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Latest from the North.
Defeat of the Federal at Murfreesboro.

We received last night a copy of the New York Herald of the 15th inst. The paper contains an account of the capture of Murfreesboro', Tenn., by the Confederates, with $30,000 worth of army stores. The following is the dispatch announcing the disaster:

Nashville, July 14th, 1862.
The Union forces engaged were the Third Minnesota, Col. Leslie, eight hundred men; six companies of the Ninth Michigan, Col. Parkhurst, three hundred; the third battalion of the Pennsylvania Seventh cavalry, two hundred and twenty-five; Hewitt's battery, sixty men, convalescents; the Fourth Kentucky, twenty-five. In all about fourteen hundred men.

The rebel force consisted of one regiment of mounted infantry, a regiment of Texan rangers, and Georgia, Alabama and Tennessee cavalry — between 3,000 and 4,000, mostly armed with carbines and shot-guns.

Their loss in killed and wounded is heavier than ours. The Pennsylvania 7th lost, in killed, wounded and missing, 200 men. The only officers escaped, as far as reported, are Capt. J. F. Andrus, of Company G, Capt. C. C. McCormick, and Lieut. H. D. Mooney.

The commissary and quartermaster's departments were recently replenished with new clothing. &c., all of which have fallen into the hands of the enemy. Captain Rounds, Provost Marshal of Murfreesboro', and guard, shot nine of the rebels before surrendering.

The rebel Governor, Isham G. Harris, and Andrew Ewing, active Secessionists here, were known to be at Beersheba Springs, near Sparta, a few days since, organizing the raid on Murfreesboro', which may, it is apprehended, be extended to the capital of the State.

The public are still in a great state of excitement, many families having left. The Louisville cars were crowded this morning with alarmed cotton speculators and adventurers.

It is reported that Gen. John C. Breckinridge, Col. Forrest, and Col. Raines, of Nashville, commanded the rebel forces at Murfreesboro'. It is also reported that they have taken Lorergne, fifteen miles from Nashville, and that Kirby Smith is advancing on Nashville from Chattanooga with fifteen thousand men,

Murfreesboro'; was barricaded by bales of hay, and the Federal shells set fire to many houses. Col. Lester is falling back towards Nashville. Union reinforcements are coming in by special trains.--The 28th Kentucky has just arrived. They were cheered as they passed through the streets.

The city is in a great state of excitement. The Secessionists confidently expect the arrival of the rebel forces some time to-night. Batteries have been placed on Capitol Hill and other points.

Col. Leslie surrendered at Murfreesboro' at four o'clock P. M., the Minnesota Third and Hewitt's battery included, the latter for want of ammunition.

Georgia and Alabama cavalry and Texan Rangers were engaged in the fight. The 7th Pennsylvania cavalry were partly engaged. Some have reached Nashville and are now on duty.

Gen. T. A. Crittenden, of Indiana, is a prisoner.

An escaped prisoner reports the 1st, 2d, and 4th Georgia, the 1st Kentucky regiment, and, Texan Rangers, and 1,700 mounted infantry, under command of Forrest and Warner, 6,000 in all, advancing on Nashville. The 4th Pennsylvania cavalry and the 74th Ohio arrived from Lebanon last night. Four regiments are coming from Huntsville. A convalescent camp of 150 of the 11th Michigan is still at Nashville, with camp equipage, &c.

Men are lying on the sidewalks asleep, holding their horses bridles in hand, expecting every moment to be called into action.

News from Kentucky--the Pursuit of Morgan's Guerrilla.

Louisville, July 14, 1862.
The 11th Michigan arrived at the camp near Louisville Fair Ground yesterday noon, after an unsuccessful three days chase of Morgan.

Cincinnati, July 14, 1862.
A dispatch, dated Lexington, says that General Ward assumed command last night. The city is under martial law. No man is to appear without a musket under penalty of being shot down. Gen. Ward's proclamation orders all the citizens of Fayette county to prepare forthwith for military duty.

A dispatch, dated Frankfort, says that Morgan, with less than 10,000 men, crossed the Kentucky river this morning, and moved North to Versailles, where now is a force sufficient for the protection of Frankfort and Lexington.

Since Saturday night the city has been greatly excited. A thousand rumors are afloat. Meetings have been held, and citizens in large numbers have volunteered special service at Lexington. Over one hundred of the city police went fully armed. Many citizens are yet anxious to go, but their services will not be accepted until further news from Morgan is had.

Address of Gen. Pope to his troops,

Washington, July 14, 1862.
To the Officers and Soldiers of the Army of Virginia.

By special assignment of the President of the United States, I have assumed command of this army.

I have spent two weeks in learning your whereabouts, your condition, and your wants; in preparing you for active operations, and in placing you in positions from which you can act promptly and to the purpose.

I have come to you from the West, where we have always seen the backs of our enemies — from an army whose business it has been to seek the adversary, and to beat him when found — whose policy has been attack, and not defence.

In but one instance has the enemy been able to place our Western armies in a defensive attitude.

I presume that I have been called here to pursue the same system, and to lead you against the enemy. It is my purpose to do so, and that speedily. I am sure you long for an opportunity to win the distinction you are capable of achieving. That opportunity I shall endeavor to give you.

Meantime, I desire you to dismiss from your minds certain phrases which I am sorry to find much in vogue amongst you.

I constantly hear of taking strong positions and holding them — of lines of retreat and of bases of supplies. Let us discard such ideas. The strongest position a soldier should desire to occupy is one from which he can most easily advance against the enemy.

Let us study the probable lines of retreat of our opponents, and leave our own to take care of themselves. Let us look before and not behind. Success and glory are in the advance. Disaster and shame lurk in the rear. Let us act on this understanding, and it is safe to predict that your banners shall be inscribed with many a glorious deed, and that your names will be dear to your countryman forever. John Pope,

Major-General Commanding.

From the grand army.

The correspondence from the ‘"Grand Army"’ is very large, but contains nothing of importance. It is asserted that the army has advanced four miles.

The Recruiting question.

Recruiting goes on slowly, and a grand public demonstration was to have been made in New York on the 16th inst., to arouse the people. The following are some of the dispatches published in the Herald:

Utica, July 14.
--A large and enthusiastic meeting was held this evening to advance volunteering under the new levy. The Mayor presided, assisted by the most distinguished citizens. The resolutions proposed an extra bounty for volunteers. Speeches were made by Ex-Gov. Seymour, Judges Denio and Bacon, Francis Kiernan, Ellis H. Roberts, Chas. W. Doolittle, and others. Liberal subscriptions were made for the extra bounty.

Boston, July 14.
--An order appropriating $300,000 from the city treasury, to be expended in the payment of bounties ($100 to each volunteer) and other expenses in raising the city's quota of volunteers under the recent proclamation of the President of the United States, was passed this afternoon by both branches of the city government.

Indianapolis, July 14.
--An enthusiastic war meeting was held to-night. Twenty thousand dollars were subscribed to support the families of volunteers. Recruiting progress most favorably. Indiana will fill her quota of new troops rapidly.

The situation

Is thus briefly given in the Herald:

There is no later news from the army on the James river than that contained in our correspondence from Fortress Monroe and Harrison's Landing. In all probability the army is in a state of quiescence for the present, notwithstanding the vague rumors of a recent battle. It is stated that the obstructions placed by the rebels in the James rivers, near Fort Darling, have been greatly reduced by the recent freshets. If this be true our gunboats may have an opportunity of operating a little nearer to the rebel capital before long.

The New State of West Virginia.

‘"West Virginia"’ is ‘"nearly"’ in the United States. The Senate has passed the House bill admitting her, with an amendment, that the children of slaves born after the 4th of July, 1863. shall be free, and that all slaves who should at the time aforesaid be under the age of ten years, shall be free, unless they arrive at the age of twenty-one; and all slaves over ten and under twenty-one shall be free when they arrive at the age of twenty-five. There is not much doubt that the House will agree to the bill.

The Herald on the Gloom Pervading.

The Herald says the civil war has cost the U, States $600,000,000, and the ‘"bones of its dead soldiers would make a Golgotha monument higher than that of Bunker Hill"’ It says:

‘ In return for this immense outlay of blood and treasure, what have we gained! Are the rebels subdued? On the contrary, they seem stronger than ever. Is the rebellion at its last gasp? It has to-day more soldiers in the field than the Union.--Have we succeeded in reviving the Union feeling at the South? Why, every day the two sections drift farther and farther apart; every day we become more and more ignorant of the sentiments of the Southern people; every day that this accursed rebellion is permitted to continue, the number of Southern Union men becomes less as the old Union seems more powerless and remote, and the new Confederacy more powerful and successful. What, then, have we gained? In spite of our brilliant victories, our naval superiority, our numerous but isolated triumphs, we have practically and in results gained very little and lost very much.

What, then, shall we do next? Shall we give up the war, disband our army and navy, and let the rebels go in peace? Never! It is too late to think of such a course. The recognition of the Southern Confederacy by our own Government is no longer among the contingencies of this war. --The rebels may defeat our armies and capture our capital — these are possibilities — but the rebels can never conquer their independence. The conflict has assumed a new and a sublimer aspect. We have to decide now, not whether the rebels can be subdued, but whether the country is to be saved. The question is no longer the putting down of the rebellion, but the salvation of the nation. We are in cul de sac, from which our only escape is the suppression of the rebellion by force.

’ In another article it says that ‘"this summer's campaign must end this rebellion or that this may be a very long and eventful war."’ It adds:

‘ We call upon the Government to supply, at once, from our troops in the field elsewhere, an overwhelming army to McClellan and Pope in Virginia, and upon our loyal States to push forward their volunteers or militia. If within two or three weeks we can reinforce our Virginia armies to the extent of a hundred thousand men, it may save us a vast amount of human life and a thousand millions of dollars, which may otherwise be required for the suppression of this rebellion. Now is the time for action, if we would save the Union. We can. Let action, then, be the word.

The New York money Market.

[From the New York Herald, July 15.]

Monday, July 14, 6 P. M.
Today's bank statement compares as follows with that of last Monday:

July 5.$143,643,71831,790,5199,270,815127,496,534
July 12.147,997,43632,098,1749,212,397127,538,055

The decrease in loans was hardly expected, as some of the banks were known to have increased their line of Government securities. Others, apparently, on the other hand, have been selling. The increase of specie, in the face of the heavy exports of the past month, is quite a satisfactory indication. It shows that, notwithstanding the high premium on coin, the banks are not sellers, and that the gold which is being exported comes neither from them nor from their special depositors. They are in an unusually strong position for the season of the year, and after a specie export of $34,000,000 in six months. The deposits remain unusually steady; they will probably increase again as soon as Mr. Chase begins to issue his new paper money.

There is no change in the money market. Call loans range, as for some days past, from 5 to 6 per cent. Money is abundant enough, but many capitalists seem inclined to wait a day or two before disposing of their means.

Exchange and gold were higher to-day. Bills ranged all the morning from 127½ the last quotation was 127¼ @ 128½. Gold opened at 115½, rose to 116 ¼, sold at 116 in the afternoon, and closed 116½ bid. No cause is assigned for the rapid and severe fluctuations in the precious metal.--They are probably the fruit of speculation.

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