The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1861-06-04

LETTER FROM A PRIvATEERSMAN.-We make the
subjoned extract from letter addressed to the
New Orleans Delta, by prvateersman on board
the successful etter-of-marque steamer wv, ted
off PAss-a POutre mouth of the Mississippi, May II
Last Friday left New Orleans for this place and
boat for little privateering-to st in ANNOYING
the enemys commerce; but the enemv's commerce
has ceased almost To spread its wings in this lati-
tude On board the Ivy guns aud men enough
to accomplish great destruction called on
| to open with our cannon. Our human fighting
zaaterieL is constituted of good bone, snew nd
pluck, and some of the crew having entered the
privateer service with only one intent-commenda-
| Bile revenge on the North.
To-day we succeeded in sighting a vessel of the
largest dimensions, and full rugged, which proved
| to be the Sarah Pettigrew, which, to our sorrow,
was without a cargo, there being in her hold only
two or three thousand sacks of salt, from Liver
pool. We had prize crew on her broad
decks, greatly to the muddled surprise of her oi-
GERS and crew.
After the formality of taking possession, your
correspondent being among the boarders--we do
not pay weekIy-I overhauled the flag bag, and
soon had bunting in plenty for pretty Southern
Confederacv flag, which was Immediately sent aOtt
to futter defiance to all who don't like US. The
Ivy's capacity enables her to do her own towing,
and after she had cruised around in the Gulf for
two three hours to overhaul other Sails she
turned to US and turned our prows toward
Pascal Outre, where the Pettigrew lies,
waiting to be tOwed to your city. The privateer
Calhoun gave chase for the same vessel, but the
Ivy was too fast for her. We lie in near the
river every night, but start out soon after mid.
night and keep sharp lookout for any speck on
the horizon, and when the cry of "sail no p is
heard, the Ivy's 'tendrils" don revovers, swords
knives and rifles with great excitement and good
nature. We have exceedingly good times and
''dutf," but | fear all will be closed ith the ap
pearance OF the blockading force.
THE IMPREGNABILITY OF THE SuUTH.-The I'M
pregnabiity of the South is partly owing to the
ta w m ak
practicable as winter; but chiefly to the large uls-
tances requiring be trayersed, to the sparseness
and warlike character of the people, 10 the lncor-
ruptible fidelity of the slaves, anG to the many
large water courses living athwart every road and
highway. The South-such is the character OF
her seaboard, and such the breadth OF swamp ana
sand d-barren lining its whole extent-can only be
invaded from the Chesapeake, from Charleston,
from New Orleans. or from the Upper MissssIppl.
From the Chesapeake only Eastern Virginia can
be assailed; for any attempt TO reach N"' tn va"
lima or slant parts of the interior would require
lono lines of communication, crossing wlde rivers
which could readily be broken up. Charleston is
now closed by impregnable forts New orleans Is
nrotected by its distance its miasma and ITS bound
asS and fatbomIess swamps. The Mississippi above
upmnbis Is securely guarded by swamps, by cane
brak s. and by batteries OF coumbiads.
All the South is secure from invasion except
Eastern Virginia. All the South can, therefore,
afford to concentrate its forces in State These
forces are pouring in upon in formidable nun.
bers, and we think the is safe. The presence
of the Confederate Government il equivalent to a
host of men. The excellent generalship of Presi-
dent Davis will soon infuse system, order and con-
fdence in every division and corps. When our
forces got well Gin hand, >" and all things are
ready for the fray, shall then see what late
awaits the invaders of Virginia.
While the South is closed, the North is very
open to Invasion; and if the war last year, it will
be waged upon Northern soil. The Virginia ca N
paign will make veterans of the South rn forces.
1t will then be for to assume the offensive, and
to plan campaigns. We shall carry the war into
Africa; we shall commend the chalce prepared Tor
us to their own lips.-Richmond Dispatch.
The landlords of Cincinnati are very generally
reducing their rents from one-fourth TO one-half,
in view of the s.agnatiOn in business.