A wonderful bit of news is presented through editorial interpretation by tne New York Herald. It exultingly announces that Gen. Grant is out of the race by liis own declaration, and says: "It rernains now to be seen whether the celebrated Grant movement can get on without Gen. Grant. For Gen. Grant positively declines to re-enter the political field." We are not sure that the ex-President will be grateful to the journal that has observed and recorded his movements with no such assiduity and enterpriae for thus ínaturing some very guarded expressions of liis in a reported interview with the Viceroy of Tientzin; and if he should repudíate entirely the offlcious service that he has rendered him it would not be an inconsistencv that any one could criticise. If Grant'a interview with the Viceroy has been correctly reported- and it is upon its published report that the Herald bases its remarkable inferences- he is as deftly cocjuetting for the llepubiican Presidential nomination in 1S80 as he ever was. It would have been very easy for "a plain, blunt man." even though conversing witli a tlowerytongued Chinese dignitary, to say in so many words that uuder no circumstances would he accept another term as Chief Magistrate of the American people; but upon that point he was very careful not to commit himself, though he wasgivenevery opportunity to put himself in a perfectly unequivocal position. Diplomacy is a good thing, but Gen. Grant employed it too lavishly for a simple answer to a plain nuestion. Borie followed the great man around for six months to sound his mind on this topic, :md learned just about as mucli as the bolder questioner learned in a much shorter time. If there is anv deflnite inference to be drawn f rom the interview it is that Grant is laying his pipes deep down to come out at last with brilliant and startling effects. In response to the compllmentary -vvish of the Viceroy for his re-election to a third term, he said : "Your Excellency is very kind, but there could be no wish more distastef ui to me than what you express. I have held the office of President as long as it bas ever been held by any man. There are others who have risen to great distinction at home, and who have earned the honor, who are worthy, and to them it belongs, uot to me. I have no claims to the ofllce. It is a place distasteful to me, a place of hardship and responsibilities. When I was a younger man these hardships were severe and never agreeable. They would be worse now." In his whole treatment of the subject there was nothing more positivo or defmite than that. All that he said was very true, but it did not so much as squint at a rejection of an offer to return to power. On the contrary it has a decidedly Cheap John aspect. He intends so disparage the office and disclaim any ambition to fill it again in order at the laat to work the element of fice up to larger and more íinposing proportions - to come out with the well-worn pliariseeism about the office seeking the man and the cali of the people being sü strong that he cannot resist, and, putting away private considerations, consents to put himself again in the way of accepting rewards and honors. The Herald must show a declination in more unmistakable language than any it has yet quoted for its conclusions before it asks others to join in jubilation over the f act that Grant is not in the political fleld. Just now, so far as a glimpse oL his purpose can be obtained froni his replies to the questions of' a pagan prince, he is heading as directly as possible for the Kepublican nomination, though ïiensin seems a queer starting point.