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The advance on Atlanta.

The well deliberated and carefully calculated programme of that coterie of warriors, statesmen, and rebellion crushers — Grant, Lincoln, and Seward, et id omne genus--was to seize Atlanta and Richmond at once, and thus make a simultaneous crush of the whole affair, and settle the business of President making after it was a lover. In an editorial on this subject, the Atlanta Confederacy of June 7th, says:

‘ Fighting had already begun in Spotsylvania county, Virginia, when Sherman, having got all in readiness, put his gigantic machinery in motion — the "On to Atlanta" was to be accomplished by a series of flank movements. The "On to Atlanta" has not been consummated, but as much of it as we have been permitted to see has been conceived ingeniously and executed not without some display of strategic brilliancy. If some enterprising Confederate sharpshooter had shot a bullet through Mr Therson's head, and knocked out Sherman's brains, the Yankee raid might have been handled with less skid, and with more damaging result to the enemy. As it was, it will not be denied that Sherman has desired. The possession of Dallon was but the work of a few days rapid march by flank, which culminated in a spirited encounter at Resaca. Another flank movement and he possesses Rome and Kingston, cresses the Etowah, and is somewhat abruptly checked at New Hope and Dallas. Any further attempt to flank an enemy who shows his claws so pluckily and defiantly as did Johnston in all of these little passages at arms, would be attended with imminent danger to an expedition "thus far into the bowels" of the enemy's territory. To make another right flank would be dangerous; to advance direct, with a veteran and disciplined enemy and a sagacious General confronting him, equally so; to retreat across the Eto wan disastrous. Sherman immediately seizes the Altoona Hills by a movement to the left, and he will there entrench himself, plant his pontoons behind him, reconstruct the Etowah bridge, and gather his strength for another hug. Except the acquisition of a great deal of valuable territory and several important villages, he has gained nothing but a closer proximity to Atlanta, and a longer and more hazardous rear line of communication to his supply depots.

’ Looking upon the Southern shade of the picture, while we have gained no material advantage over the enemy, we have lost nothing in regard to strategical advantage or position.

Sherman advanced in the outset with upwards of one hundred thousand men. Rocky faced Ridge, Resaca, and Pat Cleburne, have cost him dearly in the loss of many good fighting men, which, with a reasonable deduction for stragglers and deserters, have seriously diminished his stupendous raiding party. His men are more or less dispirited and demoralized, while ours were never in better trim or stomach for the fight. We do not believe he will attempt any further advance for some time yet, and when he does, it will be a repetition of his original advance by flank. When that is at tempted it will precipitate a battle, as is generally anticipated, between the Etowah and the Chattahoochee. With the latter river, well bridged with pontoons, in his rear, and his trains and supplies on the Southern side of it, Johnston will have his adversary at an advantage, whenever the prowess of the two armies may be brought to the test. His gallant and patient army, much inferior numerically to Sherman's force in the beginning, has increased considerably in the retrograde, and is now more than a match for the enemy in "an open field and a fair fight" Gen. Johnston will hardly attack Sherman in his present position, and the latter will not be likely to continue the aggressive until his losses are made good and his raid is strengthened by reinforcements.

Atlanta was not is not, and will not be in danger. We sincerely believe that the echo of a Yankee gun will never be heard except from a point outside of its peacefully entrenched limits. It Richmond is held as well we shall be satisfied. In the meantime we are constantly punishing Grant in that quarter. If Johnston can "hold here, while Lee skins there," we are doing well enough, and the Yankees will abandon both magnificent failures before another Fourth of July celebration is held in New England

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