The New York herald., 1863-07-10

longitude 6s She started a boat. heavily manned.
after the bark; but fog settling down just then
! enabled the latter to escape. The privateer was
a three masted schooner. and carried the English
flag.
Our European files by the Asia contain the i'm
portant information that General Forfeit, Of the
French army, had left Paris for Mexico, bearing
dispatches from the Emperor to General Forey
in which he was ordered that when he entered
Mexico city he should issue proclamation an
Davis government. This news is contained in La
France, of Paris. the special organ Of the Empress
Eugene and the high church party Of France.
We have also some details of the alleged plan Of
Lord Pamerstoa to propose reference of the
American question to the arbitration of King Leo
pold of Belgium.
Earl RUSSELL in reply to the Earl of Clanricsrde.
stated that Napoleon had not renewed his propo-
sails for recognition" of the South to England
Colorado Jewett was at the Court of Austria
on his peace mission. He had had an interview
with Count Rechberg, and prayed the interference
of Austria. Count Rechberg replied that when
the North and South united in requesting the good
offices Of the Emperor they might be accorded.
MISCELLANEOUS NEWS.
The Board of Councilmen did not organize last
evening for want Of quorum, but four members
being present when the roll was called. The
Board stands adjourned until next Monday
evening at four o'clock.
The proceedings in the case Of the alleged prize
steamer Peterhoff, in the United States District
Court, yesterday, were of considerable interest.
Mr.. Delafeld Smith and Mr.. Upton, for the govern
ment and captors, and Messrs. Augustus F. Smith
and Lorenzo Sherwood for the claimants, indulged
in some passages at arms upon the presentmont
by the District Attorney of some new and inte-
resting testimony. The grounds upon which a
condemnation is claimed will be found in our re.
port of yesterdays proceedings.
Coal shippers in Philadelphia have stated that
the present advance in the price Of coal will only
be temporary, and that the price, as soon as the
present excitement is over, may fall lower than it
was before the advance. The increase Of price, it
is known, was caused by the action Of the coal
operators, who agreed to send regiments to the
field and provide for temporary suspension Of
operations in the mining regions.
The stock market better yesterday and there was
more disposition to buy the active The advance
OF the day was equal to u 2h cent. Gold
1914. Exchange was pretty steady at 144K I45.
Money easy and the feeling mercantile circles
cheerful.
Cotton attracted more attention yesterday, and
rather frmer. There was increased activity in -four,
wheat and corn somewhat irregular rates. and in pork
at frmer prices. Hay, talow and whskey In de-
mand at uniform quotations; but in most other articles
the movements were unimpOrtant. The freight market
was hrm with heavier engagements reported, chiefly Of
breadstufs for British ports.
The Position OF General Lee-Ths Late
Important Events In the Southwest.
Arrested in his fight by the flooded Potomac,
with his immense army train, General Lee
| has been compelled to prepare for another
battle with the advancing army Of General
Meade, and we think it altogether probable
that terrible struggle will take place between
the two armies this day or tomorrow. With
Lee the question is narrowed down to the
rescue Of his army from its perilous situation,
or the loss Of his army, and with it the imme-
diate collapse of the rebellion.
What is the prospect, To avoid any argu-
ment in regard to the losses of Lee since tho
first day of July at Gettysburg, we will put
them at the lowest reported figures, and we
will assume that on that day his army amount
ed to ninety thousand men. In those three
days battles, according to the lowest estimates
! his killed and wounded left on the field
| amounted to fifteen thousand men, and be has
lost in prisoners, thus far reported, twelve
thousand men. Add TO these the wounded that
he carried OF with him, and his stragglers
dropped behind on the way, General Lee
returns to the Potomac shorn of full
one-third of the army with which he en-
tered Maryland. His whole force now halted
on the Potomac does not exceed sixty thou
sand, and it may in reality be less than forty
thousand men. On the other hand, while Gene
made up by the acquisition of General French's
troops, who were not in the battles of Get
tysburg, we dare say that his army now is con-
siderably stronger than it was on the first day
of July, from other reinforcements, to say
nothing of the auxiliary militia army of Gene
raj Couch The odds, therefore, appear to be
so heavily against Lee that we cannot doubt
| that the issue of this impending battle will be
| the end Of this late invading and defiant rebel
army, and the end Of the rebellion The only
chance Of escape to Lee appears to depend
upon his ability to hold our opposing army at
bay for two or three days, in which time the
river may fall to fordable stage. But we pre-
sume that General Meade is duly informed of
this probable contingency, and will not wait
for the river TO fall.
Meantime it appears that General Bragg, re-
treating to the south side of the Tennessee
river, and burning the splendid bridge at
Bridgeport behind him, is pushing on at the
double quick for Chattanooga, but whether to
halt there or to hurry forward to the relief Of
| Loft Daria M Richmond rornnina 10 l,o