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The situation.

The grand manæuvre which the Yankee papers according to their custom, have been hinting at for the last three weeks as about to be executed, and to result in something if it would astonish all the world and the rest of mankind, has at length been tried. It has not captured Richmond, but it has procured "hospitable graves" for many of Grant's cut-threats, black and white. What will be try next to. Why, we suppose he will manufacture a bulletin, in which he will announce the most splendid success, and which will set the whole semi-barbarous generation represented by him and his army to screaming, dancing, throwing up their hats, and shouting for old Abe. That is all he has done since he has been in command of the grand army, and it is pretty much all that he can expect to do hereafter. But that will not take Richmond, although it may, and no doubt will, assist greatly in electing Lincoln.

The sudden abandonment of Fort Harrison by our troops was a sad affair. It proves that none but tried veterans ought to be entrusted with the defence of outposts, liable at all times to be suddenly attacked and to be overwhelmed before the arrival of assistance. The Yankees will represent the capture of this post as a great victory, of course. But time will show whether it is so or not.

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