The Sun.
London, England, 1864-08-04 00:00:00

THE SUN, LONDON, THURSDAY EVENING, AUGUST 4, 1864.

scorn committing a burglary in peace. But if the re-
publicanism of their troops admitted the possibility
of truth being told, these exceptional Generals would
be the first to confess that they are too few, and
feeble to leaven the mass of officers around them, or
to exert the smallest influence on the loosely coupled
and undisciplined rank and file.
The situation of affairs in front of Petersburg re-
mains the same. I do not myself believe that Grant
will maintain his present position much longer. It

is the opinion of those who understand the South
best, it would have been wiser for their opponents
to have assumed everywhere, in the present cam-
paign, a defensive attitude, and while strong lines
were held in Virginia, Georgia, and Louisiana to
have lured the Southerners on to some rash step
like the invasion of Maryland, or Pennysylvania, or
Tennessee. By assuming the aggressive the Fe-
derals have drawn down upon themselves the grave
disasters which have overtaken General Banks in
Louisiana, and the unpromising prospects which
seem to await General Grant before Richmond,
The Confederate army cannot be disposed of until
it has weakened itself by some aggressive move,
and after such a move, to which the well-known
impatience of the Southern character would infal.
libly prompt, the way to Richmond would be, so
far as it ever can be, uncovered. As matters now
stand, with Grant baffled and arrested, I see no
other course for the Federals to pursue than, by
acting on the defensive, to let the weight of the tai
possidetis principle tell, and when any talk of nego-
tiations arises to ask the Confederates, " What have
you in exchange for New Orleans, Pensacola, Key
West, Morris Island, Port Royal, Beaufort, New-
bern, Norfolk, Fortress Monroe, Western Virginia,
and the State of Tennessee to give, and how can
you talk of peace unless you give us payment for
each of these cities and regions, or, failing that,
allow these cities and regions to remain in our
hands ?"

was weathered by the respective craft as follows, the wind
being now nearly duo south:—

If, Af. S.
Arrow
Mosquito
Alert°
Surf
Volanto
Astarte l2 49 0
Marina

The Norman weathered, the Arrow made a long board
in for the weather.shore, under Priory Point, then tacked
and stood out for the western end of the course —the
Warner lightship—closely followed in all her movements
by the Mosquito. The Warner was weathered by the
Arrow at 12h 5m 555; the Mosquito followed round at
12h 56m 15s; the dye next vessels weathering it as fol-
lows

H. M. S.
Alerts
Surf ... 1 5 40
Vo!ante
Astarte 1 17 50
1 25 50

Marina

The Arrow and Mosquito soon had their balooners out
on their bowsprits, and, with sheets slacked off, camo
bowling along on the hack of the tide, and before the
southerly breeze for Calshot light-vessel, Ryde pier head,
Stokes' bay pier being in line, being passed thus
S.
Arrow
Mosquito 1 26 30
Alerte
Surf 1 33 23
Volante

Astarte 1 61 0
Marina 1 67 12

It was simply a plain ran in before the wind from the
Warner to the mark boat off Egypt, and this left nothing of
interest until the leading vessels had rounded the Calshot
light, when the wind fell considerably, and but slow progress
was
,made thence for some time. The Alerto, Surf, and
Volante passed round the lightship protty close together.
From the lightship to the mark-boat of the Egypt there
was nothing but variable winds and calms, now favouring
one of the competing vessels, and now another. The Arrow
was in luck, as usual, and managed to scramble down to the
mark-boat, when she fell in with a slashing south-west
breeze, which she carried with her into the goal, falling
light again, however, on the csmmencement of her second
round. The times in which the first round was eventually
completed by all was as follows

11. M. 8.

Arrow
Mosquito
Alerts 3 61 55
Volante
Surf
Astarte
Marina .

The Vindex was lost sight of in the early part of the race,
and it was supposed got on some part of one of the shoals.
When the leading yachts were returning westward from the
Warner the Vindex was discovered passing Ryde-pier to
the eastward, and when the Marina had completed her first
round the Vindex was seen tacking along the north shore,
between Lepe and Eaglehurst, for the mark boat off Egypt.
Under these circumstances, she was not timed with the
other vessels. The second round was commenced with the
wind so far favourable that it onab)ed them to lay their
course round Castle Point Buoy to the eastward, but it was
very uncertain in its nature, and the probability existing at
the time our parcel left Cowes was that the race would not
be finished within the time laid down by the rules of the
squadron.
To-day her Majesty's Cup will be sailed for.

RAILWAY INTELLIGENCE,

METROPOLITAN.

The directors of this company have resolved to recom-
mend the proprietors to declare a dividend on the ordinary
stock of the company at the rare of 5t per cent, per annum
for the half-year ending June 30 last.