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From Pensacola.

--Gen. Bragg's Twelve Months Proposition a Success.--Our latest advices from Pensacola and the Navy-Yard are to the 22d ult. A letter to the Mobile Advertiser, says:

‘ As I have mentioned before, the proposition of Gen. Bragg to his twelve months men will prove a perfect success, if not interfered with at Richmond. Numbers have already gone home on furlough, and others are to follow their example. I have conversed with a great many of the volunteers, and have not yet heard one say he intended retiring wholly from the service after his term of enlistment expired. As an evidence of the war feeling among the twelve months troops, I will state that the regiment of Col. Chalmers, designed for the war, now numbers five hundred men, divided into seven companies. These companies, I am informed, are composed of the first material in the army, and that Col. Chalmers will be allowed to recruit his companies to one hundred and fifty men. He will, therefore, be able to take the field early in the spring at the head of fifteen hundred men — as good and true as ever shouldered musket or ‘"bit,"’ cartridge. Col. James R. Chalmers now commands the First Mississippi at Washington.

Col. Henry D. Clayton, of the First Alabama, is also in the field for a reorganization of his regiment, on whose banner is inscribed the ever-memorable 22d and 23d November, 1861. Two companies of this regiment go out of service on the 17th of January, two on the 19th of February, and the whole corps on the 20th of March. I understand many of the officers, (among them Lieut.Col. Steadman,) as well as the men, intend going in for the war, and keeping up the organization of the First. It is the oldest corps in the Confederate service, and it is to be hoped the pride of Alabama will not permit it to exist in name only.

The frigate Niagara left last night, and has not yet returned. Maybe she is on a visit to Ship Island, which bids fair to be as notorious a place as Hatteras Inlet or Hilton Head.

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