Year: 1863

What is the prospect? Is there any hope for
the country? or is the chaos of Mexico to be
our portion? Disappointments still attend US.
vicksburg tells substantially the same story as
Fredericksburg-an assault by our infantry
upon line Of the enemys defensive works too
strong to be carried by storm without pre-
paratory bombardment; the consequent repulse
Of our brave troops, with serious losses in killed
and wounded, and the temporary abandon
ment of the enterprise We apprehend, too,
that the parallel between Fredericks-
burg and yicksburg will hold good in
another respect. A month has elapsed
since the return of General Burn.ide's army
to its position of observation on the north side
OF the Rappahannock. and there it still remains;
and at least month will most probably elapse
before another attack is made upon the rebel
stronghold of the Mississippi.


This thought is extremely discouraging. With
the defeat of the rebel army at Murfreesboro
the premium on gold was thirty-four per cent,
with signs of a decline; but with the news Of
the late Galveston disaster, superadded to the
Vicksburg failure, gold rose in Wall street to
premium of forty two per cent. This depreca-
tion of our paper currency will still go on while
our fleets and armies remain inactive, at an cx-
pense of two millions and half of dollars per
day. We must strike some telling blows upon
the vital points Of the rebellion before the re-
turn of spring, or we shall be cast adrift upon
the boundless sea Of universal bankruptcy
government, people and all


But ii there were no financial embarrass-
ments to warn the government Of the impsrious
necessity OF instant and earnest action against
the armed forces Of the rebellion there ought
TO be enough to urge IL forward in the simple
fact that, by May next, the terms Of service
will expire of some three hundred thousand Of
our volunteers in the field. If we do nothing
in the interval towards breaking up the armies
and defensive strongholds Of the rebellion we
shall probably find the rebels next summer
attempting again their programme of last
August of general invasion Of the loyal
States, from Maryland to Missouri. But we need
not 20 so far to establish, on our side. the sue.
cess or failure Of this war. IT. with our present
army afoot Of eight hundred thousand men, and
our navy. equal to another army OF half .
million Of men, We shall accomplish no crush
ing victories over this rebellion by Nav next.
the cause of the Union will be lost; for, If
nothing else will then avail to establish peace
upon the basis Of two con|ederacies, we may
prepare for the experiment of European inter-
vention.


Why has the Army Of the Potomac remained
in state Of demoralizing inactivity since it's
repulse from Fredericksburg 1t is stronger
than the rebel army before il. The Virginia
roads have continued good for transportation
purposes, and II the heights occupied by the
rebels are too difficult to be carried from the
front they may be carried by flank move
ment or from the rear, Take some other road
draw the enemy out, and fight him till his forces
are captured or routed and dispersed. Do some
thing-do anything rather than persist in this
.unous inactivity at this crisis Of life or death to