The Position

The private telegram given in a portion of our last week's issue, announcing the defeat of Hookhu at Frecferioksburg, and Lis reerossing tlie Rappahnnuock, proved too true. We have no lieart to speoulate upou the many causes of this great reverse, but sinooth it over as we may, it is nothiug lesa thau defeat, utiless it be au inglorious retreafc from a defeated army, and it is hardly that. During the week we have híid reporta of the capture of Richmoud, of another advance of Hooker, and of various "strategical" movements ; but at present the position of the army of the Potomac is presumed to be as it tea ; the federal army - minus sorne 10,000- in thoir üld camps at Falmouth, and tlie rebels in force at Fredericksburg - with a loss variously estimated at from 12,000 to 18,000. And so far as we can seo these i losses aro. tlie solé physical resulta of the last movement. The moral results are not ao easily eátimated, and time must develop them. The eavahy raid of Stoneraan's sevcral divisions was a very brilliant aifuir. j and had Hooker dofeatod Lee, would I have been productive of much good, but as the cainpaigu resulted it vtiü only be remembered for its brilliancy. We shall give some details of the raid another week. The advanco on Vieksburg has not yet cubainated in an attack on the city : ! Grant is reported'as having defeated Gen. Bowrnen at Clinton on the 6th. The rebels in front of Roseerans are said to have been reinforced, and the latter is preparing for battle. Morgan is reported threatening Nashville. Burnside is said to be puahiag for East Tennessee. The move-rnents of the coming week will be active - at least in sensation headings - but we venture no prediction.