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The American campaign in London and Paris.

The London and Paris correspondents of the New York Herald, writing on the 28th ult, give some accounts of the reception of the American news in those two cities. They are gotten out specially to please the Yankee public, and we give extracts as specimens of how the thing is done:

The news in London.

Go in the city, go to the lobby of either house of Parliament, go into any club in London and ten to one the first question will be, "Any more news from America?" or "What do you think of Lee's position?" In business and stock operations everything that could be affected by military successes or reverses in Virginia has been completely unsettled for the last fortnight. Opinions and surmises as to Grant's performances and prospects have been more candid and sensible than I have seen them here since the war commenced.--No one cares to make himself a foot by depreciating Grant's courage, strategy or prospects.

Of course there are plenty to cry "Oh, norro, was there ever so much useless slaughter! " But that must be expected. The best resume of the situation and performances of Grant in any of the journals here will be found in to-day's Spectator and the editor does full justice to the pluck, endurance and generalship exhibited in the rebel army led by Lee. Without being a rout of the enemy, the Spectator says, If ever a General was entitled to have "victory" inscribed on his banners it is Grant, for the eight days fighting from the 5th to the 13th of May. The editor says, had the Danish shown half the fervor of the Union troops the Prussian army would now be sleeping under the sail of Denmark.

Since the tempest in a teapot caused by the Treat affair, nearly three years ago, there has been nothing like the absorption of all public topics by the American news that we have witnessed during the last ten days. The intelligence just brought by the Scotta has caused a little depression to the former prospects of the Union cause; but still little doubt exists that Richmond must fall. How much Sigel and Butler may have suffered by the attacks made on their forces seems uncertain, but few believe either of them to have been over whelmed. Old Napoleon's maxim seems generally believed — that God is usually on the side of the largest battalions.

Such is a faint idea of the state of public opinion here on the reception of the news of the terrific campaign now moving over Virginia. The hoaxes practiced by speculators and others in matters like the Lyons and Davis correspondence, Mallory's pretended report, and Lincoln's mythical call for four hundred thousand more troops, have occasioned considerable talk, and not a little chagrin and mortification to those believing them. As to the canard of President Lincoln's last call for troops, the same steamer that brought the announcement brought also its contradiction.

The anxiety of everybody is still on the strain, and we are all looking to see the culmination of these military efforts, the most persistently sustained of anything that has occurred since Hannibal fought the battles of Canta'œ and Thrasymene.

Bets offered that Richmond will fall within an many weeks find no takers. One military officer, of high standing and large experience in the British army, in answer to some remarks about the "useless slaughter" of Grant's men, declared that since the art of war was practiced better generalship, higher skill, or more persistent military perseverance, under such circumstances, was never known. Said he, "there is very little room for what is ordinarily termed tactics. His strategy is profound and complete, and the military work in a country with such natural means of defence must be principally to find your enemy and then administer hard blows, and this Grant has done, and with tremendous effect" Were I permitted to give the name of this general officer it would carry great weight with it.

In Paris.

As you may well imagine, the excitement among the American community of Paris during the present week has been intense — greater than at any time before since the news came that the rebels and traitors of Charleston had opened fire upon Fort Sumter.

Monday afternoon the first instatment of the news, giving a telegraphic summary of the events which occurred between the 5th and 11th of May, reached Paris. As this left matters in rather an uncertain condition, and as the rebels, as usual, professed to have received later dispatches, they claimed a victory, and during that evening the cafe of the Grand Hotel, in which they "most do congregate," was thronged with them. Champagne flowed freely, and rejoicing was great, and as the loyal men who stop at that establishment sat quietly upon the balcony they heard loud hurrahs for Lee, mingled with curses upon Grant and his hosts.

On Wednesday, when the news from New York to the 14th arrived that Lee was in full retreat, and the victorious Union forces pursuing him with vigor, our Southern friends at first professed to disbelieve the story, but when, by a later dispatch, the statements seemed confirmed, they began to look excessively blue, and, passing through the court yard of the Grand Hotel last evening I saw crowds of them sitting there, silently brooding, looking at each other for consolation, with feelings "too deep for utterance."

Among the loyal men here the excitement, if not so wild, has perhaps been quite as great. The two principal banking houses where they go to hear the news have been all the week filled with earnest inquirers, like Oliver twist, "asking for more." as a general rule the Paris journals have merely published summaries of the news, awaiting something more positive before making comments. The Patrie however, with its usual mendacity, speaks of the result up to the 11th of May as a "Federal defeat"

The Moniteur, with an amount of enterprise which for that slow journal is really surprising, published a map of the battle ground, taken from the New York Herald, and the correspondence of the shenteur, which for a long time past has been of a decidedly rebel complexion, has completely changed its character, and not only acknowledges the most decided advantages to the Union forces during the late battles, but predicts for Lee's army a crushing defeat.

It is well understood here that the French Government received information as to the strong probability of a speedy crushing out of the rebellion from its representative at Washington a short time since, which has led to an entire change of programme on its part. This accounts for the statement made by the Minister of State in the Corps Legislatif, some ten days since, in substance that the French Government had no intention of recognizing the Confederacy, and for the action of the Government in giving orders to prevent the departure of the vessels built for the rebels at Bordeaux and Nantes. The Emperor has managed thus far to keep himself exceedingly well balanced upon the fence of "neutrality"--giving certainly to the rebels the "word of promise to the ear, and breaking it to the hope." but ever ready, the moment he saw the tide of success surging in our favor, to show himself, as he undoubtedly henceforth will, to be our very good friend, and, if necessary, our most humble and devoted servant.

With such stirring events crowding upon each other with such rapidity upon your side of the water, your readers are probably not particularly interested in the political affairs of the Old World. In fact, there is not much of interest. It is now generally believed here that there will be no European war, and that the Danish question will be settled by the application to the duchies of the Emperor's universal remedy of a "plebiscite."

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