The New York herald., 1862-02-22

4
sales quite limited. Corn also heavy aud 81
hcut OF sale. Mixed in store brought 6s 20, and .
small lot Jersey white the dock sold at Csc Pork
was quite steady with sales OF on the spot at
si4 for future delivery s14 90 was asked. New prime
was sold at $40 Lard and both lrm. Sugars
were Without change OF Importance the weeks sales.
The TRANSACTIONS embraced 33s hhds 80 do. meado,
and 43 bags. Coffee unchanged. A sale OF !, 200
bags Rio was made at 1s4c 2ie, and 45o do do st.
Domingo. in bond for export, at p. Freight engage
ments were fair and rates unchanged.
The Rebellion Broken Up-The Panic
Among the Rebel Leaders and Armies.
Our good tidings from the South still accu-
mulate upon our hands. Another defeat OF
Price, in Arkansas, with another batch OF
prisoners; the evacuation by the rebels of their
important defensive position of Clarksville on
the Cumberland river, ia Tennessee, leaving
behind them . large store of supplies the
burning Of several important railroad bridges
by the Unionists Of Alabama; the steady ap-
proaches Of Commodore Dupont's gunboaia to-
wards the city Of Savannah, in Georgia, and
the belief among the rebels that that city and
Charleston will soon fall into our possession
and the discovery of active Union leagues in
vents aud circumstances which will make the
Inauguration Of JEFF. Davis and his permanent
government to-day a painful mockery aud
CHASTITY spectacle.
But the prevailing panic which our recent
triumphs and the onward movements OF our
imposing fleets and armies have created among
the rebel leaders and encampments is our
greatest victory. This panic is like that Of an
unearthed colony Of rats, scampering wildly in
every direction. hither and thither within a
circle Of rat catchers, ard beaten back at every
point Our Baltimore correspondent informs
us, for example. that Beauregard has drawn off
thirty thousand men from Manassas to the de-
amount to sixty thousand men, and that he is
fortifying the place. for a stubborn resistance;
while, from other sources, it appears more pro-
bable that Nashville, like Clarksville, is to be
abandoned On the approach Of our forces, aud
in Difference to the wishes Of its citizens.
Next, it appears that the rebels are laboring
vigorously upon an enlarged system of defen-
sive works around Memphis, from which we
conclude that we shall very soon hear OF the
evacuation OF their extensive and enormous
works at Columbus, aud a backing down on
the Mississippi of over two hundred miles,
without riskng on that river contest with our
gunbOats. But most significant OF all are the
mysterious movements going on in Virginia.
If the rebels have not abandoned their batteries
along the Potomac, they have been very negli-
gent Of late in enforcing their blockade: and
ii they intend to risk great battle at Manas-
sas. they are acting very unwisely in weakening
that army by the forces which they are sending
from that point to North Carolina and Tennes-
zee. Ii they longer remain in Virginia they
begin to realize the fact that they will be
expelled or captured; but if they abandon
Virginia there will he no resting place for
them this side of South Carolina.
Upon two points depend their last chances in
Virginia. North Carolina and Tennessee, and
those two points are Manassas and Nashville.
Whether they evacuate or are expelled from
their defensive line OF Manassas, they lose Vir-
ginis and North Carolina; for the Unionists Of
both these States are waiting only for au oppor
tuslity to open upon their Richmond despotism
decisive lire in the rear. Whether Nashville
is TO be abandoned or defended by Beauregard,
We shall soon have an overwhelming force
moving upon that important position, by land
and water: and, with our occupation OF Nash
VILE Memphis will become untenable to the
rebels. And so, with the loss Of Manassas and
Nashville, they will be compelled to move
down their northern defensive line within the
boundaries of the seven original seeding cotton
States-South Carolina, Georgia, Alabama, Mis-
sis.ippi Louisiana. Florida and Texas.
Compressed within these limits, and invested
and invaded on all sides. the people Of the cot
| ton States will be very apt to make short work
of the rump of the Davis government and the
| demoralized remnants Of his wasted armies.
And such are the prospects under which. on
| this anniversary of the birth Of Washington.
| JEFF. Davis is to be inaugurated in Richmond
| President. for six years, Of Southern conted-
eracy which will probably be reduced to its
birthplace the swamps Of South Carolina, with
| in less than six weeks.
| EUROPEAN INTERVENTION Urox THE AvEprc,x
| CoNrIxExr.--Thc passages of the address Of the
| Emperor of the French and of the speech of the
| Queen of England upon American affairs read
very sineularly when we remember the many
| acts and words Of i'll concealed hostility
towards this country which have recently dis
graccd the great nations whose soyercigns
| speak of ms in so friendly manner. We have