The Late Federal Successes

It is now elear that tb ere are but Three armies in the Souib - the anny nncler Juhnston, the iirmy underBragg, and the nrmy under Lee. lt is abuu(lantly clear ihnt the army oí Johnston, ivhieh is rtow naruhing eastwnd, is in do po.siiicn to o pp ose even a división of Grant's nnny, wbich it may beobserved, has been reitiforced by troops dra n ironi that of Oiui. Burnside, who oomirninds in Ohio. Bingg novv appenrs tobe in the neighboi'hoorl ot Atlanta ii iheeenireof Georgia, and a'tlmugh he has beuiï censurecl by some ot the Southern papera tor retrentinar from Tulluhoma,. the probability is lh;t he fouml hitüself too weak to oppope the advance ot Rosccrans. It is said that Bragg and Johnsto aro endeavoriwg opérate a junction. - Such a refiils is not caj' to attain. - But even if it were po?fib]e, tbere is no renson to suposo tbat both armies nited wiiï!d be abfe to opposo any effeettial resfetanoe to th3 cotnbined ar miea of Kosecrans, Grant, and such ot' Hurnpide's troops as oan bo spared. Indeed, the .Southern jonrnals are compelled to adinit Ihis; and, if it be true, as tbey assert, tbat the Federal torce amounts to f ome 180,000 men, it is clour that their tears aro reasonu.ble, - öome of these journtils tnlk loudly of a guerrilla warfare. Bul thejr eÊtorts in this direction hitherto havo not been very uceefwfuf, The last atterrvpt uir-j der Morgan hna been dcf'eated,. artd when the gieat liues of railway are in {isscssiofi o? the Pederufa, any desnltory warfare wrll be of no great irnporfance. Tho movements of the army of Gen. JLee are still shronded in mystery. It would be absurd to rel}' upon the telcgraphic anrwuncement tbat the aringeinents of Oon. JVTeade havti al ready inwuped bis rival's destrnction. - ït is by no mea na clear tbat Meade has anything to gain by mnking an attack ou Lee until he can make absohuely certain of the victory. Un the contrafV, so long as Lee remains the valIy of tho Shenandbah, he keeps a largo army unemployed,, f.nd gives the Federal offioers in tho West time nough to concéntrate their armies ar.d to mature their plans, whilst at the me time it enables Gen. Meade to obtuin now recruits and discipline thena. lt is almost certain that the army of ILee must be defeated before the Confedérate witt we for peace; but to secure thi.s result it may probably be bettor to dispense first of tho other armies of tho Confedérales in order to Inunch the concentrated forcea of the North ngi.inst tho Conlederato army in Tirginia-.