New York, Jan. 13.- The Herald, vmder date oL Pine Ridge, Jan. 11, prints a dispatch frora W. F. Cody (Buffalo Bill) ■which reads as follows: "Your request for my opinión of the Indian situation is, by reason of the complications and the changeable nature of the red man's mind and action, a puzzle. Every hour brings out a new opinión. Indian history furnishes no similar situation. You must imagine about 5,000 Indians, an unusual proportion warriors, better armed than ever knovn before, hemmed in a cordon about sixteen miles in diameter, composed of over 8,000 troops, acting like a slowly closiug drag-net. Despairing, Desperate and Fanatical. Thia mass of Indians is now influenced by a percentage as despairingly desperate and fanatical as the late Big Foot party. It contains also restrained neutrals, frightened and disafïected Ogallallas, hampered by the powerful Brules, backed by renegades and desperadoes from all the other agencies. There are about 2,500 acting and believed to be friendly Indians in and around the agency. Such is the situation Gen. Miles and the military confront. Any one of this undisciplined mass is able to precipítate a terrible conflict from the most unexpected quarter. Miles Must Be Let Alone. Each of the component quantities is to be watched, to be measured, to be just to. In fact it is a war with a most wily and savage people, yet the whites are restrained by a humane and peaceful desire to prevent bloodshed and save a people from themselves. It is like cooling and calming a volcano. Ordinary warfare shows no parallel. Gen. Miles seems to hold a firm grip on the situation. The Indians know him, express confidence in his honor, truth and justice to them, and they fear his power and valor as well. As the matter now stands, he and they should be allowed, untrammeled even by a suggestion, to settle the question, as no one not on the spot can appreciate the fearfully delicate position. Thinka It i k Like Feace. "Thechafï must be sifted from the wheat, and in this instance the chaff must be threshed. At the moment, so far as words go, I would say it will be peace, but the smoldering spark is visible that may precipítate a terrible conflict any time in the next few days. However it ends, more and prompt attention should be paid in the future to the Sioux Indian in his rights, his complaints, and even his necessities."