The New York herald., 1864-06-07

is a. much a. our army can do to drive the
rebels out Of hastily thrown up rife pits"
Tho News from Europe-Great H Sensation
and Excitemens IN Eagland.
BY the arrival of the Virginia. Etna and
China, from Liverpool, we have one week
later news from Europe. The steamers Europa,
City of Washington, Scotia and Bavaria had
arrived atvarious English ports, and the intelli-
gence they brought of General Grants forward
movements had created the greatest sensation
and excitement. Indeed, the English people
and papers appear to be in greater furor
about our victories than we are. Experience
has taught us to view matters more philosophi-
caliy. and to bear triumphs and defeats with
more oalmness. relying upon the ultimate sue
cess of our arms, and displaying a serene and
perfect confidence in Grant. But with Eng
land the case is different. Her sympathies are
with the rebels, and every blow we deal them
cuts her to the quick. Consequently the late
news has disturbed London, just as it has dis
turbed Richmond, and the retreat of Lee shakes
the British isles like an earthquake.
When the first steamer arrived from New
York (the Europa) the sensation is described
as profound" Cotton at once became
weaker" The London Times, which is in
fact q rebel organ, thought it 'hard to discern
the inclination of the balance, 80 evenly do the
scales of battle appear to be weighed" This
is a roundabout way Of declaring that the
Times could not say which side would win.
The Post, Lord Palmerston's organ, saw ''no
appreciable advantage on either side" but
recovered its equanimity the next day, and an
nounced that we had Sustained crushing
defeat" The London Star was afraid that
Grant had paid too dearly for bis
victory; which was very kind Of the
Star, since no regrets were expressed
that Lee had paid too dearly for his defeat. The
Morning Herald. which is in the pay Of the re-
bells, pronounced Grants advance "a failure"
and will continue to pronounce it SO after Grant
has taken Richmond. The Globe stated that
"Lee was fully successful In barring the road
Of General Grant to Richmond;" but the Lon
don Globe is like the New York World-a great
deal behind the age, and very apt to be mista-
ken about our war. As commentary upon
all these newspaper opinions, it may be men
toned that the pirate Georgia was Immediately
advertised for private sale, her crew dismissed
and her stores sold at auction.
Well, while matters were in this position,
along came the City of Washington with more
news from Grant. This increased the excite
ment and sensation The newspapers did not
strive SO hard to argue down these successes.
On the contrary, we are told that g the news<
was most generally regarded as very disastrous
to the rebel cause" The rebel loan at once
declined, and was quoted at i've or six per cent
lower. Five or six per cent is not much of
decline here. where stocks huctuate ten per
cent in a single day. but In sober. steady, dog
trot England, snch a fail means mischief John
Bull began to feel Grants sword slashing
away at his tenderest point-not at
his heart strings, but at his purse'strings and
we very decidedly fear that he lost some money
by this decline. Then came the most signii-
cant result Of all: the British government
purchased the Laird rams. Afraid to let them
GO, unwilling to ask Parliament for q more
stringent law to confiscate them, and tired OF
holding them in suspense, like Mah0met's
coffin, the government escaped from the dilem-
ma by buying up these troublesome vessels-of
war. Grants campaign in Virginia brought
Earl Russell TO this sage conclusion, just a.
his capture OF yicksburg caused the stopnSssv
Of these very rams a year ago. Had the news
been the other way-had Lee defeated Grant
undoubtedly the rams would have been re-
leased to prey upon our commerce. This pur
chase is, therefore, equivalent 70 a grand
Union victory abroad.
In the midst OF the "iucrcased excitement
TO which We have referred, the Scotia sailed
into Liverpool with more news from Grant
This seems to have capped the climax. On the
morning after the arrival Of the Scotia the
London Times had an article endeavoring to
show that the rebellion would not be subdued
even il Grant did capture Richmond. and that
its downfall will cos: great loss Of life. This
is practical confession that Richmond will
probably be taken. Ii is refreshing to read
such mournfui passages about the value Of
human life in the columns Of the representa-
tive newspaper Of country noted for her
piracies during hundreds OF years past, and
celebrated alike. for her conquests, her opium
war, her massacre Of the Sepoys and her
starvation system of labor. The nation whose
history is written in blond may we'll lecture us
upon the horrors Of war. The nation that
punished her rebels b. blowing them from
cannons mouths may well sigh at our inhu.
manity and shut her eyes to Southern barbara
tics. The nation whose operatives have been
subssted by our bounty may we'll groan over
the cost Of reunion. As for the taking Of
Richmond, that may or may not end the rebel
lion. We are going to try it and see what
effect it will have. We do not believe it will
hurt our cause very severely, even f It does
not crush the coufederacy After Richmond
has fallen we can go on taking places until the