The Sun.
London, England, 1863-05-23 00:00:00

STATE Or TRADE•

MANCHESTER, May 22.—The advices by the Glasgow,
though bringing only one day's later news, have cleared
away a good deal of mist and doubt which operated disad-
vantageously to business. The rumour of an armistice, for
instance, is no longer believed, and it is generally believed
that some other reports respecting the results of the late
encounters would have been mentioned at least in the ad-
vices by the Glasgow if there had been any foundation for
tnem. Under these circumstances there has been a decidedly
better feeling in the yarn-market to-day, with a moderate
amount of business for various markets, and we have re-
gained in price all that was lost during the late depression.
The market closes extremely firm, with a decided upward
tendency in prices, and there is a general opinion that
should Monday's steamer bring no worse news as to the
position of the Northern armies than has been brought by
the Glasgow we may expect to see a considerable rise in
prices. It is quite evident from the feeling here that dis-
aster to the South alone is looked to as a proximate cause
of peace ; but, at the same time, a serious reverse to the
andthe sales have been of
large,
Federals, and the rumours of an armistice which would
gain credence, must lead to a serious disturbance of values,
but there has been
and probably to something like the panic which prevailed
in this market at the beginning of the week. In yarns
tahederan
businessad
for all a
general character. There is also an improvement in
the cloth market. The cotton market at Liverpool has re-
covered its tone, and this has had its effect upon manufac-
turers, who are now asking the full prices of last week. We
hasnotmarkets, been
have more inquiry for fabrics suited nearly to all markets,
though it has not yet led to much business. People are
willing to buy at the rates manufacturers would have taken
on Tuesday, but the latter, having recovered confidence,
are now unwilling to accept those rates. For India geode
large contracts have been offered at rather lower rates than
would have been taken last week, but declined, though they
would have been eagerly accepted on Tuesday.
CARDIFF, May 21'—The coalmasters have a good number
of orders on the books, but considerable difficulty is expe-
rienced in executing them in consequence of the scarcity of
of the colliers are only
tonnage. Many partially employed
through this circumstance. Freights are firmer, and a
slight advance has taken place to some ports. There is no
change to report in the quotations for coal. The iron trade
remains without any material alteration, and the works aro
going on with their usual regularity, The principal iron
masters are fairly off for orders, but the smaller works
are not so favourably situated. An occasional cargo leaves
for the Northern States. Quotations show a drooping ten-
dency.
NOTTINGHAM, May 21.—We had a very quiet market
to-day. The attendance at this exchange-hall was limited,
and a corresponding amount of business was done, but
there was no material alteration in the value of either
hosiery or lace yarns. Silks were quoted at unaltered rates.
The brown net trade was hardly represented, and scarcely
anything was done, prices being stationary.

Full benefit of reduced duty obtained by pur-
chasing Horniman's pure Tea;
very choice at 3s. 4d. and
4s. "High Standard "at 4s. 4d. (formerly 4a. Bd.), is the,
town supply it in packets,
strongest and most delicious imported Agents in every

TlMES.—After a series of defeats as calamitous as
any that have preceded them in the war the Fede-
ral army has retreated across the Rappihanneck
and returned to its former position at Falmouth.
Thus ends the Virginian campaign of 1863,
after five months of preparation. Operations, pre-
ceded by more than the usual gasconading, have
been followed by the usual miserable failure. Yet
the Federal Government is able to administer some
comfort to its trusting people. The Army of the
Potomac is once more in safety. It is no longer in
the field exposed to the attacks of Lee and Jack
son ; it is not intrenching itself on the ground to
whichit had been driven in two days of disastrous
fight. It has Placed the river between itself and
the enemy. Favoured by a very dark night Gene-
ral Hooker has escaped the sword of the Confede-
rates, and once more gained the camp from which
nine days before he had gone forth for the con•
quest of the South. The Secretary of War is able
to assure the public that the failure has been
" without serious disasters to the efficiency of the
army," and General Hooker is "now occupied
in strengthening his position ;" an occupation in
which he will possibly be interrupted by the ap-
pointment to his command of some subordinate who
will make a temporary reputation by inveighing
against his errors. The immediate cause of the re-
treat is alleged to have been the defeat of the corps
under General Sedgwick, which gave the Confede-
rates the power of acting on the Federal line of
communication with Acquia Creek; and it may cer-
tainly be true that it was this event which forced
General Hooker to cross the river with such precipi-
tation. But, even if Sedgwick had not been crushed,
it is hardly possible that the main army could have
been kept long in a position so dangerous and so re•
mote from the Federal base of operations. Of the
two battles of Saturday and Sunday we have no
further news ; and it may be said that the details
of these encounters and the loss of the rival armies
are still very imperfectly known to us. Of the
battle of May the 4th, however, which ended with
Gen. Sedgwick's being driven across the river with
the loss of 5,000 men, some accounts have arrived,
and show that the struggle was long and obstinate,
as indeed might be judged from the heavy loss to
which the Federals confess. The Confederate rein-
forcements suddenly made their appearance on the
Monday morning on the hills to the left of Frede-
ricksburg, and coming down rapidly occupied the
city, getting into the rear of the Federals. The nearest
way of retreat was by a ford five miles above the
city, The corps was arranged in an arc, both wings
resting on the river, the right at Bank's Ford. On
Monday afternoon it was attacked by superior forces
of the enemy, and gradually forced back. In the
night it retreated by Bank's Ford, thus leaving
General Hooker's communication unprotected.
Immediately on this the General prepared to
re
retreat also. Sedgwick's corps was driven across the
river in the night of Monday, and on Tuesday
morning Hooker began to follow him. We do
not know—we shall probably never know—the
rea 1 extent of the loss suffered by the Federals in
these battles, but we strongly suspect that General
Hooker was so disabled as to make the defeat of
Sedgwick rather an opportune excuse for retiring
than a real disappointment. General Lee reports
that many prisoners were captured, and that the
enemy's loss in killed and wounded was large;
and from the circumstance that Hooker could
give no assistance to his subordinate when attacked
by superior forces there is reason to think that
his army must have been too much beaten to
have any hope of resuming the offensive. He
had also left on the field the dead and wounded
in the Sunday's battle, which indicates plainly
enough that when the Federals were driven backin
the last great struggle their retreat was something
like a rout. The shattered army consequently had to
be withdrawn with the utmost caution, and in the
night it succeeded in getting away, the Confede-
rates being either outwitted by the rapidity of the
movement or not desiring to expend their strength
upon a flying enemy. We cannot but think that the
former is the more probable solution. Much allow-
ance must, however, be made for men who had been
engaged in one of the longest and most continuous
conflicts of the war. For three days it may be said
that the fighting hardly ceased, and it may be that
the Confederates were too exhausted to pursue an
enemy who owed his own activity only to the immi-
nent danger of destruction. The Secretary of War
' has proclaimed that the Army of the Potomac will
shortly resume operations, a statement those may
credit who choose. A more likely event is the super
session of Hooker by Gen.Heintzelman or some other
soldier who happens to be the favourite of the hour
at Washington. The Democrats are urging the
claims of M'Clellan ; the Republicans are calling for
Fremont. There are meetings to denounce the war,
and there will be, no doubt, meetings to urge the more
relentless prosecution of it. Words are cheap, and in
no country more than in America will people flock to
hear effective oratory, whatever be the subject or the
speaker's views. There is also something soothing to
the sore vanity of the North in fancying itself deter-
mined and obstinate beyond the example of any
people whom history describes
when struggling
under misfortune. The end of this war is not to be
looked for from any return to conscientiousness or
humanity, any conviction that the cause is unjust
and success hopeless. There will be under any con-
ditions, either of success or failure, a sufficient
number of men interested in the continuance of
hostilities, and able to persuade masses of people that
with one effort more the war will close gloriously,
The end must come by the slower process of exhaus-
tion, either of men or of that real enthusiasm which
fights instead of preaching. The next few months
must decide whether the war is to end with the pre-
sent year, or to drag on to the close of President
Lincoln's term, or later. It is stated that the con-
scription is to be immediately enforced. Ab this
threat was held out last autumn, and succeeded in
gaining large reinforcements through the exertions
of States, cities, and districts anxious to avoid the
draught, it may be thought that another body of
men may be brought into the service in the same
manner, But after one more yeor of defeat the
number of volunteers who can be collected by any
bounty whatever is likely to be small. The thou-
sands whose time of service will have expired in
June and July must be replaced if the war is to be
continued at all, and it is most unlikely that any
large proportion of these will re-enlist to be sent
back to battlefields whitened with the bones of their
comrades. The Government will be this time really
obliged to enforce a conscription, or limit the ope-
rations of armies which are already too small for
the conquest of the Confederacy. Of the prospects
of raising a new army by compulsory draughts,
which can only be turned into soldiers after several
months of training, we shall probably hear more in
a few days. But it may be said that, whatever
were the chances in favour of the Government, they,
are now sadly diminished by this last disastrous de-
feat of the largest and best appointed army which
the Federals possess.
HERALD.—If we are informed aright, Lord Rus-
sell has made a very bold step in advance in his
treatment of the Polish question. Oar Paris cor-
respondent alluded, two or three days back, to
somejoint proposals on the part of England and
France, which had emanated from the English:Ca-
binet ; and we have every reason to believe that his
statement of those proposals is substantially correct.
They are :—" 1. The conclusion of an armistice for
one year. 2. The Polish fortresses to continue to
be garrisoned by the Russian troops. 3. The im-
mediate institution of a Polish administration. 4.
No individuals implicated in the rebellion to be ar-
rested or brought to trial." It is easy to understand
that the Cabinet of the Tuileries has " eagerly asso-
ciated itself" with that of St. James's in the pre-
sentation of these demands ; it is not easy to fathom
the motives of Lord Russell's initiative. The first
proposition is quite sufficient to ensure the rejection
of all. The acceptance of an armistice for 12 months
would be to Russia the surrender of Poland—nothing
less. It would be a virtual recognition of the.insur-
rection as a belligerent power, and would giye.tho
the insurgents precisely that moral status for which
they are fighting. It would afford the Poles time
to organise and agitate, and to provide for thtef
Russia
struggle. It would be a tacit confessiodn the anxious
was unable to put down the revolt ahn
strain upon
for foreign intervention.. Now
Russia, struggling with a great social
ocrisis, is un-
doubtedly great ; but there ea. b
she is slowly but
.steadily gainingthe upper hand,
and that, if the affair had been left in the hands of
the Poles, if there had been no foreign recruits in
the insurgent bands, the contest would be already
well-nigh over. To ask Russia then to consent to
an armistice at this moment is to ask her to forego
all her present advantages;
.to put arms into the
hands of the rebellion ; to give increased strength
and a better position to the Poles ; and we can
hardly doubt that a high-spirited Monarch will re-
sent the demand and refuse it. What then? Will
Earl Russell put up with the rebuff quietly, and
frame some new proposals more palateable to the
P
Russian Government; or will he accept the only
logical consequences of the demand and refusal, and
present an ultimatum ? We have too much respect
for the noble earl's sagacity, and too much confi-

dente in his dread of responsibility, to believe that
he will be guilty of any such folly. But what a
position has he permitted himself to be drawn into ?
[he champion of non-intervention in the American
war, where hundreds of thousands of men die yearly
in a hopeless and objectless struggle, and where
every month's hostilities adds to the misery of half
a million of our own countrymen, intervenes use-
-1( ssly between Rus.si i and the Poles. He does so
knowing that a war with Russia would convulse
the whole continent, that it is England alone that
can prevent that war, and that every step the Eng-
lish Government takes in conjunction with France
to bring Russia into direct diplomatic collision
with its proposals is a step towards an actual con-
fl.ct. We sincerely trust we may be wrongly in,
formed. If it be true that these demands are on
their way to St. Petersburg, we are on the eve of
serious complications. We are simply " drifting,"
as we were nearly ten years ago, without any
settled policy, and we may wake up some day to
:feocreatilvttehdou;h.
find that we have reached a point whence we can
neither recede with honour nor advance without
imminent peril to ourselves and the whole of
Europe.
DAILY NEWS.—General Hooker has returned to
his camp on the north of the Rappahannock. It is
plain from what we now know of the battle of
Sunday that no other course was left open to him.
The New York papers explain the movement by the
riding of the river, the confined position into which
he had been driven, and other local circumstances.
ttwhi
friendsootauhs was
fowtoafroihurtki
olht
ceyhfehr
tsEohhseveheel
oemoNnirvwnseioonegrt
wdtoht
hhtebgrcseerhoedtoahr.
reasonablyup: stdsw
rhak
try
tei
el
alrdetactoeornrxei
,dntpa,
iotdeccetaoddlna
gbed
oeeeucgwatt
aui
why
moment
ohftßhanfaeacevt
Notwithstandingd thoseepri eeadr lhiei
mr movements otvhtehemi
advantages
dnmvt sai
misfortune
gt
uehisns eh army r
hishm had
dr
mwyh gained,ifcohu gwhaentr
and
most within his power. But the disgraceful be-
splendid battle, anetdanitnosfiirfrinco.tmedhLuieepohomnthotehnned enemy a loss
patorlteaanstt
reoqiunafolrotoemi
the Richmond papers state that Federal cavalry had
penetrated audaciously into their neighbourhood
and broken up the railway communication, it is
certain that this object was not accomplished in time
to prevent the transit of the troops which assailed
Sedgwick. Had Hooker been reinforced from
Washington, as Lee was from Richmond, he might
have renewed the battle with a fair prospect of suc-
cess. His troops are full of spirit, for they know
that although the fortune of the field was against
them they have fought a good fight. Hooker's
short campaign south of the Rappahannock must
be added to the list of Federal failures; but it is a
failure which has inspired the enemy with respect.
General Lee announces a " great victory ;" but he
does not announce that he has pursued a flying
enemy, or that he holds a foot of ground more than
he did when Hooker began to move. Early in the
present week it was "known in well-informed
quarters in the City" that Hooker had found it
impossible to cross the Rappahannock, and that he
had surrendered with all his army. And this was
only a reasonable expectation, it ought to have been
true, supposing the appreciations of the recent
fighting which many of our contemporaries put
forth to be at all accurate. It is now seen, how-
ever, that Lee has simply foiled his adversary at an
enormous cost of life. The result of these battles
has caused much disappointment in the North.

Naval and Military Intelligence.

THE NAVY.

At 11 o'clock yesterday morning five gunboats,
with 300 Marines, went through a portion of the
rehearsal of the naval engagement which is to take
place at Southend on Monday. Vice-Admiral F.
W. Hope Johnstone, K.C.8., commander-in-chief at
the Nore, and Capt. Luard, R.N., were present upon
the occasion. Capt. Butcher was in charge of the

Marines.
The Lords Commissioners of the Admiralty, com-
prising his Grace the Duke of Somerset, K.G., Vice-
Admiral Hon. Sir F. Grey, K.C.8., Rear-Admiral
Chas. Eden, C. 8., Rear Admiral Robinson, Con-
troller of the Navy, and Mr. Stansfeld, M.P., accom-
panied by Col. Greene, R,E., director of works to
the Admiralty, and Capt. R. Hall, private secretary,
to the Duke of Somerset, paid a somewhat unex-
pected visit to Portsmouth dockyard yesterday.
They arrived about 2.30 p.m., and were received by
Vice-Admiral Sir M. Seymour, G.C.8., and Rear-
Admiral G. Elliott, who, attended by the different
heads of departments, accompanied them though the
yard and adjacent Government grounds. The Royal
Sovereign, turret ship, and the Defence, 18, iron
frigate, lying in No. 10 dock, were inspected, after
which their lordships went on board the Hector,
iron frigate, lying in the steam basin. The inspec-
tion of the Hector concluded the Board proceeded
through the yard and out by the Eastern gate,
through the fortifications, and over the glacis and
past immense piles of timber. The Board then arrived
on the site which is to be occupied with the new
Naval Barracks, which were evidently the chief
object of their visit. They were engaged for some
time in inspecting the ground and plans, Colonel
Greene, R.A., and Mr. Woods, (IE., explaining the
details. Reentering the dockyard by the eastern
gate the new dock (No. 11), now being constructed
by Messrs. George Smith and Co. at the north-east
corner of the steam basin, was hurriedly inspected.
After this the workshop for the manufacture of ar-
mour plates was visited, and Mr. Murray, C.E., the
chief engineer of the dockyard, explained the
various processes by which they are prepared,
by bending, planing, and drilling for the ship's
side. They next proceeded to No. 5 build-
ing shed, where, under the bows of the
Royal Alfred, are stored the two French
armour plates which were lately tested at Ports-
mouth, and to which allusion was made in Vie Sues
of yesterday. This concluded their visit ; shortly
after they left the yard and returned by train to
London. In their progress through the yard, hur-
ried though it was, the members of the board could
not fail to be struck with the excessive care with
which iron masts are protected from the weather,
while wooden masts are lying about by scores with-
out covering of any kind.
A reply has been received to the memorial trans-
mitted to the Admiralty some few days since from
the inspectors employed on the iron frigate Achilles,
building at Chatham dockyard, requesting that they
may be placed on the same footing as regards in-
creased pay as the junior officers and mechanics
working on the iron frigate for the additional num-
ber of hours they are employed in the dockyard.,
The Lords of the Admiralty intimate that they can-
not accede to the wishes of the memorialists, who
aro reminded that, as salaried officers of the estab-
lishment, the whole of their time is at the
dispossai
of the Admiralty. This decision has caused con

derable dissatisfaction.
The Leander, Capt. Harvey,sailed from Spithead
yesterday for Devonport.
The Liverpool, Capt. R. Lambert, arrived at Spit.
head yesterday from DBVSI2pOrt. She conveyed round
from the latter port men on leave from the Edgar.
Brevet Major Pym, Royal Marine Light Infan-
try, yesterday left Woolwich, to embark for service
on board her Majesty's ship Formidable, now at
Hamilton to the
Sheerness.
The following appointmentsF tv.
C. ere
llrnL
amade. yesterday
at the Admiralty :—Capt. J.
Esk ; Lieut. E. J. Church to be Flag Lieut. to Rear-
Admiral
irsoghlarnd t; o
Jas,
Admiral Dacres, C.B. ; Lieut. H.
Excellent; L. W. E. Booker tothFe.
Ward, chief engineer, to theEsk ; G. Weeks, chief
engineer, to
the Majestic , B
class assist, engineer,A. Campbell, first
acting to ;he
engineer,
fist class bk ; W. Harwood,
assist, to the Esk ; T. J
Andrewortha, acting second class assist, engineer,
to the Esk ; and
N. J, Beale, assist. clerk, to the
Liverpool.