The New York herald., 1862-12-04


tl6 TBS As.
The canvassers will meet to-day at twelve NJ.
The stock market opened dull yesterday, gained
strength toward the close OF the Arst board and be-
tween the boards and throughout the afternoon
oueysnt at an advance of per cent the active
speculative shares. Money was active at per cent.
Gold rose 70 13zk and closed at l32,s. Exchange on
London closed at lao.
The cotton market steady yesterday, at 81 70.
6Sc for mlddling up'auds with sales l,l0o bales.
There was less doing In -four. wheat and corn, which
opened at urhes slight rise in prices bat closed with
downward tendency. The markot for provisions
moderately active Mess pork closed at S1a IL SIS 25,
and prime 10 choice ard 0c. 0zsc. Thero
siderable animation in ha market for whssey allow,
hay. hides and leather but loss activity in most other
branches Of business, freghts which we're
somewhat brisks., though rates were depressed and
tending towards lower range.
The Recall from IIarrison's Landing
Important Letters az General Nee lelian
and General Hnlleck.
In connection with General Halleck's official
report of the operations of the army since his
appointment to the post of General-in-Chief in
July last, we publish this morning two very
important letters touching the recall of the
Army of the Potomac from Harrison's Landing.
The first is from General Mcclellan, earnestly
pleading against leaving the peninsula. and the
second is the reply Of General Halleck, quite
as earnestly urging the necessity Of this evacu-
alton.
The reasons presented by General Mcclellan
in favor of holding his position on the James
river are very foicble. He'there holds strong
position, secure base Of operations, command
ing both sides of the stream, and he is within
twenty-five miles Of Richmond. Ills army is in
good state OF discipline; be has the advantage
of the powerful cooperation of "a feet of gun
boats. He fears that the removal of his army
to Aqua creek will prove disastrous in tie
extreme to our cause" that it will demoralize
the army; that 1t will have ga terribly
depressing effect upon the people of the
North" and that ''tLere is strong pro-
liability that it would influence foreign Powers
to recognize our adversaries." He says that
"here, directly in front of this army, is the heart
of the rebellion" and that 'it is here lin front
of Richmond) that all orr resources should he
collected to strike the blow which will deter
mine the fate Of this nation" With these views
General Mcclellan asks for reinforcements, and
entreats that the order for the removal of his
army from the peninsula may be rescinded
Against this order, 80 full of dangers and dis
asters, as be considers it, he pleads with the
earnestness and eloquence Of man pleading a
case of life and death.
Gen. Halleck, in his reply, says "You, Gene
raj, certainly could not have been more panied
at receiving my order than was at the necessi-
ty of issuing it." He says that, against the ad-
vice of high officers he had delayed this deci-
sion as long as he dared delay it, hut that after full
and mature consideration, he is convinced there
is no 0thcr alternative. The rebel army, he un-
derstands, is 100000 strong, and il daily re-
cciving reiuforcements--it is between the army
of General Mcclellan and that of General Pope,
and, separated as these two are, neither
can help the other in case of attack. Gene
raj Pope's army cannot be diminished
without uncovering Washington, Maryland
and Pennsylvania, and McClellan's cannot be
reduced without inviting an attack in full
force by the enemy. He does not think that
McClellan's troops will be demoralized by their
removal, and he contends that the new base of
operations at Fredericksburg possesses many
desirable advantages.
General Halleck furthermore says that it is
beyond his power to furnish the reinforcements
desired by General Mcclellan, reasonable as
are his acquisitions: that it will require several
weeks to raise new troops equal to the emer-
gency, and that in the meantime the army on
the pestilential banks of the James river in
August and September would be seriously
weakened by disease. With various other con-
sideratons in justification of the withdrawal of
General McClellan's army, General Halleck
says:-I have not inquired, and DO not desire
to know, by whose advice or for what reasons
the Army Of the Potomac was separated into
two parts. mnst take things as find them.
find our forces divided, and I wish to unite
them;' and Tor doing this "only one feasible
plan has been presented
Here. then, Is the case on both sides The ar
gument of General Mcclellan in favor of hold
ing fast to Harrison's s Landing, as the most ad-
vantageous base Of operations for an advance
upon Richmond and for the defence of Wash
ington, 10 positively unanswerable- provided
always, that the reasonable reinforcements
asked for could have been promptly supplied
him. 1t is very evident that this was the
opinion ofGeneral Halcck. The recall Of the
army from the peninsula, then, was not the
choice made between two or three strategical
movements at his option; but he declares that
It was his only alternative, and was forced upon
him as painful necessity. And wherefore,
Because he had no reserves from which he could
possibly spare the thirty-6ve thousand addi-
tional troops suggested by General Mcclellan
as sufficient to enable him to push into Rich
mond, Notwithstanding the rebel army of two
hundred thousand men, and because the june
ture Of Gen. Mcclellan and Gen. Pope, inds-
psnsable to the safety Of both armies, could
only be effected in the way adopted.
The case, then, is perfectly clear. We see
a..