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We regard the evacuation of Atlanta by our troops as a misfortune only in so far as it will have the effect of consolidating all parties in the North in favor of a continued prosecution of the war. In itself it is no misfortune whatever. The Yankee papers have been telling us for many weeks past that Sherman could enter and take possession any day he pleased. But he regarded the mere possession as an empty triumph, which it was not worth the cost of life to obtain. He cared not about taking it unless he could take Hood and his whole army along with it. That he was expecting and preparing to do, to that end all his movements were directed, and for that purpose he made the recent change in his line, concentrating upon his right and cutting off the West Point railroad. He expected, no doubt to throw his army around Atlanta to the south of the city, and, holding all the passages of the Chattanooga to the north of it, in that way compel a surrender. General Hood, to prevent such a catastrophe, and to prolong the tenure of Atlanta, which he saw it would soon be necessary to abandon, ordered the attack of Hardee upon the enemy on the West Point railroad. This battle--one of the most severely contested of the war — resulted in driving the enemy, with immense slaughter, from his entrenchments. But there was an interval of seven miles between Hardee's corps and the main body, and into this gap Sherman thrust a heavy column. Hardee being thus cut off and exposed to an attack in flank and rear, was compelled to retreat after having inflicted on the enemy much more damage than he received. Hood made a corresponding movement, and the whole army is safe at Lovejoy's station.

We do not regard these operations as by any means decisive of any question whatever. Hood's army still exists, and its spirit is still unbroken.--Every step that Sherman takes in advance increases the difficulty of retreat in case of disaster, and that disaster will eventually come is among the probabilities, at least, of the future. His line is already enormously long, and Wheeler is operating upon it, cutting off his supplies, capturing his small garrisons and tearing up the railroads. Should a retreat once begin, there will be no end to his disasters.

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