Situation Of Fort Henry

Fort Ilenry is sttuated fifty milos above t tic mouth of the Tennessue Rivcr, on its bank. It a mere earthwork thrown up along the river, so as to coinmaud some tlistance down the sfream, and very little else. It stands in the bottora about the high water mark, just below the bend in tho river, and at the hcad of a straight stretch of about two miles. The land around it is a little higlier, and is covered panly with timber. A small creok, setting in to tho Tenneasee just at tho south of the fort, adinits back water iuto tho low lauda behiud the fort, form'mg a pond or marsh. Across this a brigü or oausewBy has been eoustructed, giviDg coniinunicatiou by mcans ola military road receutly cut directly back to Fort Donclson, at Dover, ou the Cumberland lliver. From a point on this road back of the pond another road bas been cut, lcading aroucd undor tho blutfs back of the piue bottom land to the Pine Bluft' laading, sis miles below the fort. The place was not one with natural advantagus tor a stronghold, and the event has proved the correctness of the opinión of our Cairo oorrcspoudent, in the letter published yesterday in the World, that '' from a general knowledge of tlie situation and the construction of the defenses, there was grouud for believing that the place would be evacuated aftur a slight Btruggle." JMPOKTANCE OF TUE POSITION. The strategie importanco of the place will be seen ou a carcful exaininatiou of tho map. Fort Henry is betweeu the rebel strongholds of Columbus and Hickman on the west and Bowling Green on the oast, and not far from being equidistant from both. A few miles further up the river is the junction of the Memphis aud Ohio liailroad, counectiug Bowling Green with Memphis. This railroad, by the telegraphie account, is now in the possessiou of our forecs. - Uero tliey are iu the rear of Johuston's army. A trip down .this road sevouty miles to Ilunibolt leads to the rear of Hiukman and Columbus, and cuts off all the railroad communieation of these two places with the South. It does not, though, cut off Bowling Green from Nashville. We have, therefore, if this advantuge is followed up, eecured au important success over the robels, whieh will enablc us to pursuc the campaigii iuto Central Kentucky unembarrassed and unimpcdod. Wo are between the two parta of tho rebel army of tho West, threatening each, preventing their uuion, and niasters of the situation.