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

LONDON, FRIDAY, OUT. '7, 1864.  • The news brought by the City of Manchester shows 113 how greatly the first report of SHERlDAN's.triumph and EARLY'S repulse were exaggerated 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. SHERMAN 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 conflicting 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 ascendant at first, but almost invariably the picture changes when fuller accounts came. 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 good 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 negociations are even now matched, in spite of the Franco-Italian Convention, and notwithstand. ing 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 Isom 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• seated the Conservative interest and the other supported Lord PALMERSTON'S Government. As our readers are aware, the struggle ended in the victory of the professed Liberal, but when we look at their respective addresses we shall find there is still something left to consider. Mr. 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 ii;ff•-:,rence • between him and his opponent was that the one would give a constant ripport to the existing Government, while 1,1;3 nupport of the other would b© uncertain. Upon this ho asked, " what the support of Lord PALMERSTON implied ?" A question wt: lc., We apprehend, Lord PALMERSTON himself would be puzzled to answer. Oar gay, popular PREMIER, who has such a knack of adapting himself and his policy to the requiremecti of the hour, would certainly not like to confess that he was steering with