This phrase contains a mouthful of meanings.  I will dissect it one word or phrase at a time.  From fearful trip, Walt uses these words to represent America's recovery from the Civil War-a tragic, devestating rivalry between the southern and northern states of America.  The ship (the American people) comes back to the port of peace, from a frighteningly gory trip of the Civil War.  The ship comes in, victorious, ("the victor ship") with the trophy of peace and unity ("object won") grasped in Abraham Lincoln's hands.  The American people have overcome the obstacles of conflict and were united in peace.  They had beed led back to peace from the terrifying seas of war, by their captain and father, Abraham Lincoln.

    For more information on the Civil War and Abraham Lincoln:
    Civil War
    Abraham Lincoln