The Sun. — 1864-10-07 (London, England)

LONDON, FRIDAY, OCT. 7, 1864.  The news brought by the City of Manchester shows us how greatly the first report of SHERIDAN'S triumph and EARLY'S repulse were exagge rated after the fashion of New York intelligence, It is now said that EARLY'S entire loss did not not exceed 6,000, while that of the Federals in killed and wounded was over 4,500, At one moment indeed the fate of the battle hung in the balance. and the chances were in favour of the Confederates, whose musketry and artillery fire threw their opponents into confusion. The Federals were on the point of giving way, when, unit• ing all his cavalry, SHERIDAN made a desperate charge, which turned EARLY'S right flank and compelled him to retire. EARLY retreated to Fisher's Hill, where on the 21st, two days after the battle, he made a stand. From this position he was afterwards dislodged, but the relative posi. tion of the two forces is by no means what the first intelligence would have led the unwary to suppose. Meanwhile matters at Petersburg appear to be standing still, but the battle when it comes will be momentous. If GRANT be defeated it may precis pitate a peace, and destroy LINCOLN'S chance of re-election. The Federal anxiety for peace is indicated by the news that General SHERMAN has invited Governor BROWN, of Georgia, to Atlanta to confer on the subject of peace. SHER3fAN has probably found himself in a difficulty, and is unable to push his success; he therefore wishes to appear magnanimous in offering to begin a conference in whose object he is closely concerned. The news is altogether so eonflicting that what we receive from New York by one vessel is generally contradicted by the arrival of the next. The North is always in the aacendant at first, but almost invariably the picture changes when fuller accounts come. We may now watch daily for the arrival of fresh news, which, there is every reason to believe, will be decisive in its character.  An election contest has come in gc;od time to break the monotony of the autumn. In spite of agricultural exhibitions and annual gatherings, in spite of the critical position of affairs in America, and the anxiety with which the Danish and German negociationa are even now matched, in spite of the Franco-Italian Convention, and notwithstand• jog the murders and catastrophes which always spring into prominence at this time of the year, and of which there has been of late a truly startling supply, the months that intervene between the close of the Parliamentary campaign and the opening of the winter season are universally pronounced dull, and the present year makes no exception to the general rule. Accordingly, a contested election is an actual boon to the news seekers, and the progress of events at the quiet town of Hastings has been watched with considerable interest. The contest lay between two candidates, one of whom repre• rented the Conservative interest and the other supporto Lard PALMMRSTON'S Government, As our readers aro aware, the struggle ended in the victory of the professed liberal, but when we look at their te'pc-ctive addresses we shall find there is still something left to consider. Ali. ROBERTSON, in a brief but straightforward and sensible address, asked a very pertinent but awkward question. He had been told, he said, that the great difference between was that the him and his Opponent no would give a constant support to " the existing fLe Government, while support of the other would bo uncertain. Upon this he asked, «what the support of Lord PALMERSTON implied ?" A question which, We apprehend, Lord PALMERSToN himself would be puzzlsd to answer. Our gay, popular pRER/ER, who has such a knack of adapting himself and his policy to the requirements of the hour, would certainly not like to confess that he was steering with