The Sun.
London, England, 1865-03-06 00:00:00

THE CIVIL WAR IN AMERICA.

(From the Times' Correspondent.)

NEW YORK, Feb. 21.

The retreat of Beauregard before the steadily ad-
vancing columns of Sherman, the evacuation of the
line of the Congaree River without a battle, Sher-
man's unopposed entry into Columbia, his forward
march upon Charlotteville, with the supposed in-
tention of effecting a junction with Grant, and the
sudden, though by no means unexpected, evacuation
of Charleston, are events that have followed too
rapidly upon each other to permit of a due apprecia-
tion of their actual importance or their probable in-
fluence upon the future fortunes of the war. Thesan-
guine people who habitually look upon every victory
as final, who " break the backbone of the rebellion"
with every little or great success of Federal strategy
or valour, are more sanguine than ever that the cause
of the South is hopeless, and that on the day of his
second inauguration Mr. Lincoln will be able to
announce that he is the President de facto and de jure
of the whole Union, and that the " stars and
stripes" float not only over all the sea-board cities
of the South, but over rebellious Richmond. This
roseate anticipation, however, finds more counte-
nance from the sensational press than from the
public ; and military critics, so far from lending
the weight of their knowledge and character to
support such expectations, assert that Beaure-
gard's tactics in retreating before Sherman are
sound, that a junction between his forces and
those of Lee can be sooner effected than a:junc-
tion between Sherman and Grant, and that Sher-
man's army is in imminent peril of being sud-
denly attacked and defeated by the combined
armies of Beauregard,Hardee,and Lee before Grant
or any portion of his force can come to the rescue.
Whether the South will win its Austerlitz or suffer
its Waterloo within the next ten days is a question
that is everywhere discussed, and almost invariably
decided by the political bias of the critic rather than
by cool calculation and dispassionate judgment of
events and probabilities. It is evident, however,
that great events are at hand, and that neither the
slaves of the South, nor the new and as yet unen-
listed levies of the North, can be brought into the
field in time to take part in the spring campaign—
that will, in all human probability, decide the for-
tunes of the Confederacy.
The evacuation of Charleston will be celebrated
to all future time as among the grandest and
gloomiest events of the war. It appears to have been
determined upon by General Lee immediately after
his assumption of the supreme military power con-
ferred upon him by the President and the Legisla-
ture, and heartily approved by the people of the
South. There are indications that the first move-
ment to this end commenced fully three weeks ago,
and it is positively known that the principal citizens
and the bulk of the army had withdrawn four days
before the Federal commander had any suspicion of
the fact; and when the Northern forces entered the
almost abandoned city, they found that the Confe-
derates had determined to make a Moscow of it, and
that the arrival of the foe was to be the signal for its
destruction. Six thousand bales of cotton and two
ironclads were ruthlessly destroyed lest they should
fall into the hands of the enemy; the arsenals, con-
taining large quantities of arms and ammunition, the
quartermaster's stores, the railroad station and
bridges, the vessels in the building yards, and fully
two-thirds of the once beautiful and flourishing city
were reduced to ashes ; the other third, fronting the
sea, having been so riddled by the shot and shell of
the besiegers during the last six or eight months as
to be virtually uninhabitable. None but the poorest
portion of the population, chiefly negroes, wereleft
behind. All the rest had departed,
bearing with
them,: there can be uo reason to doubt, a
spirit of
vengeance which will yet blaze forth in new and
fiercer struggles. The news when first received ope-
rated upon the gold market to only a slight extent,
sending down the premium from 202 to 196 f, or 5f
per cent. The fall, however, was not maintained,
and the price advanced grade ally to 194, as men
of business began to calculate that the evacuation of
the proud city by a proud enemy meant, under the
terrible circumstances in which it occurred, not peace
or negotiation, but stern resolve and unrelenting

It may sound strangely in Europe, but it is never-
theless the fact, that New York, whatever may be
the case in other cities and districts of the Union,
has almost ceased to look at the war from a political
or patriotic point of view, and that it is far more
alarmed at the financial consequences of peace and
a reconstruction of the Union than at any possible
prolongation of hostilities. A victory or a defeat, or
even such an event as the evacuation of Charleston,
is mainly of interest or importance because it sends
up or sends down the price of gold or stocks, and
enables the gamblers of Wall and William streets,
and the Fifth-avenue Hotel (the latter gamble by
night, the former by day), to buy or sell fictitious
gold or shares, and to grow rich or become poor by
the early possession of exclusive information, which
they turn to account in their hazardous but fascinat-
ing business. A greedy lust of gain has taken pos-
session of all men's minds, and has infected even the
women, with whom it is as familiar to ask one an-
other " How's gold to-day ?" as it was in healthier
times to inquire after husband or children, or the
style of the last new bonnet. But so fierce is the
money mania of the time that even gold and stocks,
as influenced in price by war, seem as if theywould
by
be deposed from their pre-eminence in favour of pe-
troleum, the price of which is in no way affected
the progress of hostilities. Everybody that possesses
a few acres of land in the immense district of country
ei from Canada to Pennsylvanoia ,which
petro-
leum is boring anddigging oil-wells. producedTo
is to become rich at a bound and f "strike oil"
arms on which
the precious commodity has been discovered, that

The Derby and Nottingham meeting were both very
successful; but the performance of L'Africain in the Great
Midland Steeplechase was one of the most disgraceful over
witnessed. The horse could have won by nearly a quarter
of a mile if they had let him. It was a more barefaced
performance than that of Fille de l'Air in the One Thou-
sand Guineas last year. The owner, who is a Frenchman
and a butcher, must remember that there are butchers as
well as butchers boys in England, and that if another
similar case happens it would be impossible to answtr for
the consequences such an act would bring down from an
infuriated mob. Englishmen love fair play, and none re-
joice more than we do when the French division are suc-
cessful in any of the great races. If M. Valliant should be
successful in carrying off the Great Liverpool Steeplechase
he will find that his horse will get the top weight in all
future engagements, as Mandingoe (late Chamade) was
treated for something similar.
The Liverpool Spring Meeting commences to-morrow,
and will extend over three days. The principal race for
to-morrow is the Spring Handicap. Twilight has the top
weight, but after the lumps of weight she gave to Tippler
last week she must nearly win, unless her owner should
substitute Change, who is very forward in preparation.
Aurelian will, in all likelihood, represent the Marquis of
Westmoreland, and, if in anything like his last year's form,
must be very formidable. Revolver did not show last week
at Nottingham, and may be in reserve for this race. If
well, he must have a great chance. The two that are most
deserving of notice are Twilight and Aurelian, and I ex-
pect one of them will furnish the winner. Chapel Royal,
notwithstanding his 51b. penalty, will carry off the
Tyro Stakes. The Grand National Steeplechase will,
in all likelihood, have a very large field. The following
are those that the field will be selected from :
L'Africain ... Palmer.
Emblematic ... G. Stevens.
Arbury C. Boyce.
• Tony Lumpkin ... Mr. Thomas.
Jerry ... Capt. Townley.
The Ilandingoe (late Chamade) Mr. F. Rowlands.
Emblem ... James Adams.
Flyfisher J. Monaghan.
Penarth ... Geo. Holman.
Joe Maley ... ... Page.
Acrobat Mr. Muraford.
Meanwood ... J. Knott.
Alcibiade •.• ... Capt. Coventry.
Hall Court Mr. Davison.
Lightheart ... Mr. Bevill.
Princess Dagmar J. Holmes.
Agag. W. Reeves.
Marble Hill ... Mr. Edwards.
Fenton ... Mr. Riddell.
Ballycasey T. Barton.
Stanton ... G. Waddington.
West End W. White.
Real Jam ... ... D. Hughes.
Cockatoo ... ... H. States.
The Czar ... ... Mr. A. Goodman.
Market Gardener ... ... D. Meany.
The Dwarf
Tumbler ...
Philosopher... ...
Merrimac
Careless Boy (late Deception) ...
Balder
Without going through the performances of the whole
of the above, I shall, as on previous occasions, at once select
a lot from which the winner is almost certain to emanate.
These are Arbury, Emblematic, Emblem, Joe Maley,
Jerry, and L'Africain. Reducing them still further, I shall
retain L'AriticAnT, EMBLEM, and EMBLEMATIC. And I
shall expect the judge will hoist:the number of one of Lord
Coventry's,

EMBLEMATIC on EMBLEM
as the winner of the Grand National Steeplechase of 1865.
A FRESH MAN.

SPORTING INTELLIGENCE—This Day.

CITY BETTING—Tries DAY.
LIVERPOOL STEEPLECHASE.
7to 1 agst Arbury (taken and offered)
9 to 1 agst Emblematic (offered)
15 to 2 agst L'Africain (taken and offered ; at first
• 7to 1, taken to £500)
10 to 7 agst Emblem (offered)
100 to 7 agst Tony Lumpldns (taken)
100 to 7 agst Lightheart (taken and offered)
100 to 6 agst Joe Maley (taken freely)
15 to 1 agst Stanton (taken)
20 to 1 agst Princess Dagmar (taken)
20 to 1 agst Alcibiades (taken)
20 to 1 agst Dwarf (offered—take 25 to 1)
25 to 1 agst Meanwood (taken)
33 to 1 agst Jerry (offered)
CHESTER CUP.
100 to 12 agst Lord Zetland
14 to 1 agst Gratitude
TWo THOUSAND.
4to 1 agst Liddington (taken)

JRES FOR 1865.

Vincennes
Chelmsford Spring .. . ...
Grand National Hunt
Barham 3O
Lewes Spring 3O
'REL.

Canterbury Spring
Abergavenny 2O
Thirsk 2l
Cardiff 25
25
Epsom Spring

Bath 23
Harpenden 26
Epsom BO