The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1864-06-22

The Terrific Fighting st Petersbarg-
Tho Weir IN she Corner.
The late terrific fighting Of the enemy ut
Petersburg has disclosed to us several import
ant facts-frst, that through the foresight of
the rebel leaders the city has been very strong
ly fortified; secondly, that the bulk OF Lees
forces have been drawn over to its defence.
and are in for stubborn resistance; thirdly,
that it is the key to Richmond, and. lastly, that
General Grant is bound to possess it
The news Of the repeated sanguinsry repulses
Of our troops from the enemy's Entertainments on
Saturday caused sensation in Wall street,
which, together with the tinkering legislation of
Congress, has enabled the gold spectators to
run up the premium on gold two or three per
cent. Nor can we expect any efectual reaction
against these gold gamblers short Of some de-
cisive victory by General Grant. To secure
such victory, therefore, speedily rs possible,
additional reinforcements to the Army of the
Potomac, to the extent Of fifty or seventy.6ve
thousand men, should be forthwith pushed for
ward to the James river. Surely from our
two or three hundred thousand troops scattered
about in little detacbments here and there, be-
tween the Susquehanna and the Mississippi
rivers, fifty or seventy-fve thousand can be
drawn to complete the investment of both
Richmond and Petersburg at the same time.
Let this be done, and instead Of two
months laborious siege, like that Of Vicksburg,
Richmond must be instantly abandoned or sur
rendered by Lee; for otherwise, if placed be-
tween two armies, each equal to his own, his
army must inevitably be routed, broken up and
dispersed. The rebels are now fighting des-
perately to gain little time. They have given
up all hope for the present Of gaining
anything else. They admit that their cause is
upon its last legs; but they still hope that, by
holding General Grant at bay even a month or
two longer, our national finances will become
50 deranged, and the public mind of the North
so discouraged and unsettled, that the copper
head disunion peace faction will gain the politi-
cal balance of poyer in the loyal States, and
will bring upon them such a state of political
discords, strife and confusion in this Presiden-
tial campaign as to compel the general gov
eminent to suspend this struggle with JEFF
Davis and open negotiations for peace.
This is what Lee is now fighting fora little
time, in the hope Of gaining, through the inan-
cial embarrassments and political discussions
of the North, what the rebel leaders now con-
fess cannot be gained by them in any other
way-namely, the disruption Of the Union for
the mockery Of treaty Of peace. Time, there
fore, the gaining of a little more time, which is
now the last hope of the rebellion, suggests to
the government its true course. 1t is to strike
now, while the iron is hot; to bring all our
available forces from all sides against Rich
mond, and without delay. 1t is the policy Of
letting secondary places take care Of them
selves for the present, in order to make quick
and certain work Of Richmond; for the differ
enoe between the capture Of Richmond by the
middle of July, as compared even with the
middle of September, will, as things are now
going, be equal to the saving of whole years
expenses Of the war in men and money. Let
the government now concentrate all its availa-
BILE strength against Richmond; for with the
fall Of Richmond the whole fabric of the rebel
lion tumbles into ruins.