The Daily Dispatch: July 25, 1862., [Electronic resource]

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Later from the North.

The Philadelphia Inquirer, of the 22d, contains some later Northern news:

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From Nashville — the rebels in force around the city.

--Our pickets were captured on the Lebanon road this evening, five miles from here, by the guerrillas. One of them escaped.

Three bridges were burned to-day within eight miles of here, on the Chattanooga road.

The enemy is in force, under Forrest, only five miles from the city. Our troops are out, and there is great excitement in the city.

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From Louisville.

--Between Crab Orchard and London, John Morgan destroyed several wagons of a Federal train destined for Gen. Morgan's command at Pound Gap.

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The rebel Jackson near Gordonsville.

--It is reported in Secession circles this morning that Jackson is at or near Gordonsville. They seem to have received direct intelligence to that effect.

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Important Dispatch from Gen. Pope.

The cavalry expedition I directed Gen. King to send out on the 19th inst. has returned. They left Fredericksburg at 7 o'clock P. M. on the 19th, and, after a forced march during the night, made a descent upon the Virginia Central railroad, at Beaver Dam Creek, 25 miles west of Hanover Junction, and 35 miles from Richmond.

They destroyed the track for several miles, together with the telegraphic line, burned up the railroad depot, which contained 40,000 rounds of musket ammunition, 100 barrels of flour, and much other valuable property, and brought in a Captain, who was in charge, as a prisoner.

The whole country around was thrown into a great state of alarm. One private was wounded on our side.

The cavalry marched 80 miles in 30 hours. The affair was most successful, and reflects high credit upon the commanding officer and his troops.

As soon as the full particulars are received I will transmit to you the name of the commanding officer of the troops engaged.

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Morgan's movements in Kentucky.

The excitement caused by Morgan's movements in Central Kentucky, had not calmed down at the last advices. The town of Paris being threatened, it was abandoned by the Federal troops that were stationed there, who fell back upon Lexington. A detachment of Home Guards was attacked between Mount Eden and Rough and Ready, a few were killed and the remainder taken prisoners. A report that Morgan was marching on Shelbyville created such a panic among the Home Guards at that place, that ‘"they left,"’ as the Cincinnati Commercial sarcastically remarks, ‘"in every direction except the one in which the enemy were reported to be advancing."’ At Lebanon, three days previous to the taking of Cynthians, Morgan captured a small body of Kentucky troops in the Federal service, together with a few home guards, destroyed the ordnance stores, burned the wagons and hospitals, and distributed the commissary stores among the poor of the town. ‘"In the Government depots,"’ writes a correspondent to the Louisville Journal. ‘"were sugar, flour, bread, &c., and the destruction was immense. Guns were bent double by striking them across rocks; powder, cartridges, and percussion caps,"’ we are told, ‘"were thrown into the creek."’ It is estimated that the value of the Government property lost at Lebanon would reach one hundred thousand dollars--perhaps exceed that sum.

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Changes in the Cabinet.

A special dispatch from Washington to the New York Herald says:

‘ Some important movements are on the tapis to give unity and force to the military plans of the Government for the speedy suppression of the rebellion. I have authority for stating to you that Gen. Halleck does not come here as Commander-in-Chief of the armies of the Union. He may be appointed Secretary of War; but it is believed, in well informed circles, that Mr. Stanton will retire to relieve the President of all embarrassment, and that Mr. Lincoln will make Gen. Banks Secretary of War, with Gen. Halleck as military adviser.

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Gold Advancing.

The rates of American gold have again advanced. Sales were made at the Stock Board, in Baltimore, on Monday, at 20 per cent premium, closing at 121 asked, 120 bld. At the New York market large pales were made at 20 per cent. The sales at the First Board, New York, were made at 119½ U. S. sixes, 81, at 98½.

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Affairs at Harper's Ferry — the daring of Stonewall Jackson.

A correspondent of the New York Tribune, writing ‘"on the Baltimore and Ohio railroad, July 17, P. M.,"’ says:

‘ From Harper's Ferry to Wheeling the road abounds in stirring rumors of rebel movements in the Valley. Whether Jackson, or Ewell, or whoever the Confederate commander may be, it is certain that the long roll beats again in our camps for his approach, and that Winchester is once more imminently threatened. The fact is, this Jackson has, by his vigor and audacity, so impressed himself upon the people of the Valley — upon loyal no less than secesh — that those who heard, or have heard or, have heard of, his blunt address at Winchester, (on the occasion of his raid against Banks.) when he promised ‘"to return again shortly, and as certainly as now,"’ count as confidently on his keeping his word as if our own brave troops were pledged to make it good. instead of turning it into a stumbling block and foolishness.

Intelligence of unmistakable authenticity has been received at Cumberland, conforming rumors afloat on the road yesterday morning, to the effect that the Garibaldi regiment had been driven from Middletown to Winchester. The rebel force is reported as very strong, and consisting almost wholly of cavalry: what infantry they have is supposed to be cavalry dismounted for the special service.--The situation, therefore, is a threatening one.--Crossing over to Bath and Sir John's Run, and de stroying the Great Cacapon Bridge, as they did before, and at the same time repeating their demonstration upon Martinsburg, and reducing the Opequan and Pillar bridges to ashes, they can command the road again, and get New Creek in their clutches at last, where, fortunately, however, we have but little left that would be disastrous to lose. These are the movements which are contemplated with the liveliest alarm by those timid loyalists who forget that, this time, the familiar rebel "if" is represented by the man who says he "has always seen the backs of his enemies."

On my way to Martinsburg this morning, I conversed with a very frank and intelligent Captain in Donn Piatt's command, just from Winchester. He tells me that Piatt's brigade, of 3,000, without cavalry, had a smart skirmish yesterday with nearly 10,000 of the Ashby horse, three miles from Winchester, and fell back on their fortifications, where they have twelve 24 pounders.

Piatt considers his force, thus entrenched, amply capable of coping with and repelling three times his number of the enemy. At the distance of half a mile he can shell them with great spirit; and, for closer quarters, he has pent up for them a storm of canister which no rebel Ajax will venture to defy. He declares that he will neither surrender nor evacuate — that "if the rebels want his room, they must kill or capture his entire command."

My informant is satisfied that the rebel cavalry is the old Ashby force, but by whom now commanded he knows not. The secesh of this region say, however, that Ashby has been succeeded by Colonel Minifle, of Kentucky--a man with one leg, but noted for "independent" exploits in Mexico."All accounts agree that for their present operations in the Valley the rebels are employing but an insignificant force of Infantry.

Yesterday I met Capt. Robinson, of Robinson's battery, on his way (to Portsmouth, Ohio) to recruit. He was at the battle of Port Republic, where his brother lost three guns, and was wounded and made prisoner. Capt. Robinson, who appears to be a very modest and veracious man, relates that while he was working one of his guns, Stonewall Jackson, whose form was familiar to him, came within easy hailing distance, and, standing erect in his stirrups, beckoned with his hand and actually ordered him to "bring the gun over here."

Captain Robinson replied by eagerly firing three shots at the ubiquitous Presbyterian, but without even the effect of scaring him. "I might have known," said he, "that I could not hit him."

Capt. Robinson is utterly at a loss to explain this extraordinary personal demonstration of the redoubtable "Stonewall." Whether he mistook him for one of his own men, or that some incomprehensible ruse was involved in the act, he does not pretend to guess. "But one thing he does know," that Stonewall Jackson is the great man of the war, and that our troops in the Valley believe him to be as humane as he is rapid and daring.

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A Grand National Festival.

The great national German demonstration of the summer, the German Federal shooting match of all shooters' guilds of the German race, is fixed for the 13th till the 18th of July, at Frankfort.

Two hundred persons, organized as ten committees, are superintending the running up of an extemporized whole suburb of tents, booths, and festal halls of brick, ‘"gift temples, "’ with upwards of five hundred honorary prizes of ceramic art in silver and gold; shooting halls, beer and wine halls, fountains, telegraph offices, &c. The central festal place, fenced in all around, four hundred and eighty thousand feet square, is surrounded by a far greater one, accessible to everybody paying for admission.

The inner festal place contains the shooting hall, with a hundred stands, 1,170 feet by 50 feet; the gift temple, 64 feet in height, with a Germania on the top; the festal hall, 400 feet by 100 feet. The outskirts, will have accommodation for emptying

150,000 bottles of wine, 3,000,000 pints of beer and other beverages; for assimilating many hundred weight of sausages, meat, and other delicacies; for singing unions, music bands, equestrian and other artists, and popular feats of strength, cleverness, pedestrianism, and gymnastics; public amusements, fireworks, dancing, &c. Upwards of 5,000 members of the German shooters' guilds are expected, besides odd hundred thousands of people in general from near and afar, Russians and Japanese Included.

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From Kentucky — Jack Morgan again,

[Correspondence of the New York Times.] --You know Jack Morgan has turned up again at Tompkinsville and Glasgow, and issued another manifesto against the ‘"Hessian invader,"’ ‘"foreign hordes. "’ and ‘"Northern tyrants."’ On the strength of ‘"the late Richmond victory,"’ he appears once more among us, to raise h — ll and turn up Jack." He fancies himself a greater than Ashby or ‘"Stonewall."’ In fact, he has created quite a scare on the other side of Green river. But his doings so far seem to have been greatly exaggerated. However, it won't do to let him, Ferguson, Hamilton, Hunt, and their brigand gangs run at large any longer. Gen. Boyle is doing his best to abate such nuisances and pests.

The Nashville Union learns that Beaury, with 60,000 troops, is at Chattanooga, but ‘"hopes soon to hear that Gen. Buell and his grand Union army will possess it."’ Gen. Buell will not take it and Knoxville until ready to hold them, and to protect East Tennessean permanently.

Our school trustees, by a majority of one, have resolved not to apply any uniform and definite standard or test of loyalty to teachers. They only declare that ‘"none but loyal teachers shall be employed in the public schools of this city."’ Messrs. Wolfs and Duffield, though of the Board's infinity, are sustained by a large majority of, the people.

Gold sells at 19 to 20 premium, silver 12 to 13, Demand Treasury notes 5. In rare cases persons submit to a shave of ¼ in exchanging Treasury notes for Kentucky currency. These Treasury notes in New Albany sell at over 7 premium for Bank of the State of Indiana currency. Some say it will require two or three hundred millions of specie to purchase the underrated portion of the cotton crop. A Louisville merchant, on the 8th, shipped $35,000 gold for cotton and sugar in Memphis; 400 bales received on the 10th, 890 bales shipped to Cincinnati yesterday; 27,500 sacks grain and 11,000 boxes pilot bread received here since the 7th.

The banks at Lebanon, Danville, Frankfort and elsewhere are sending their funds here for safekeeping. Two religious weeklies — the True Presbyterian and Baptist Recorder--are suppressed.--Several preachers are under arrest. Eighteen more Secessionists in the last ten days gave bonds for $134,000. Many are being disarmed.

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The New Levy.

[From the Boston Courier, July 18.] The conviction is not to be avoided that the quota of our men, required to make up the complement of 300,000, must be raised by a draft. So far as we have learned, the same condition of things exist in all the New England States, whatever the case may be elsewhere. The very fact that a large bounty is proposed, and in several towns a very large one, shows clearly the general popular sentiment, that extraordinary inducements'are necessary in order to accomplish the object in question.--With all this, the success thus far does not appear flattering. The Newbury port Herald, of the 16th inst., says: ‘ "We do not hear of many enlistments;" the New Bedford Mercury, of the 17th, speaks with equal discouragement, and remarks, "Something certainly prevents not only the enlistment of men, but the expression by our citizens of any interest in the success of the efforts to enlist them." This is a deplorable state of things, indeed! We are in the midst of a war of the most formidable character, it can only be carried on successfully by the unshrinking spirit and energy of men ready to serve their country in arms; and yet in Massachusetts itself, strong in men and means, claiming honor for its patriotism, as it may well feel pride in the glory already acquired by its sons in the field — there is this lamentable shrinking from stern but necessary duty. ’

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The proposed Military Changes.
[from the New York Express, July 18.]

* * * If Stanton is to continue in the War Department,--and if McClellan and Pope are not to be interfered with,--the question is, what is to be Gen. Halleck's specific work? The ways of the Administration are past finding out, especially its ways in army matters, but we may venture to guess that Gen. Halleck is wanted at Washington to consult and advise as to the movements of the various armies as an unit. Gen. Hitchcock, the gossip said was, awhile ago, filling that office, but success not attending his advice, it is deemed judicious to try a new man--one, at least, that brings with him the prestige of success — and hence Halleck is called in. We have great faith in the energy, discretion, and wisdom of Gen. Halleck, and we trust that with no meddling, demagogue Congress to annoy him and interfere with his plans — as Gen. McClellan was annoyed and interfered with — he will be able to do something to improve the military situation all around.

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The currency.
[from the New York Shipping List, July 12.]

The law recently passed by Congress, empowering Secretary Chase to issue another large amount of Demand Treasury Notes, thereby creating a currency vastly in excess of the wants of the country, has commenced to bear its legitimate fruit.--While the country was so greatly elated, as it but recently was, by the false belief in the invincibility of the Army of the Potomac, and the bright prospects of the speedy capture of the Confederate capital, and the consequent. probable collapse of the great rebellion at an early period thereafter, there was comparatively little danger of any such extraordinary panic in monetary circles as that which has occurred since our last. But, with the retrograde movement of that army and its attendant disasters, it at once became evident that the capture of Richmond, if not problematical, was, at least, indefinitely put off, and rendered exceedingly improbable for some time to come. These facts dispelled the fatal illusion under which the country had for so long a time been resting, and, combined with the fears of foreign interference in American affairs, which they have engendered, resulted in the extraordinary excitement in Wall street and environs, above referred to.

But the great advance in gold and silver and foreign exchange — or rather the depreciation in paper money — is more directly traceable to the recent enactment of the Treasury Note Bill, against the remonstrances of a united public, proclaimed through the columns of an almost undivided press; for seldom, if ever, has the press been so unanimous against any public measure as it was against the passage of the bill conferring such great powers upon the Secretary of the Treasury. We learn that it is by many considered exceedingly doubtful if Mr. Chase will use his power by issuing any more demand notes; but, if this be true, in view of the extraordinary and deplorable condition of affairs now existing, and the still more unfavorable prospects, we conceive it to be the duty of the Secretary to inform the public in regard to his determination. If, however, he shall conclude to issue more demand notes, the circulation of bank notes should be reduced in like ratio, as this alone would probably save the country from the evils which it is beginning to experience, and which are attributable directly to the passage of the demand note bill, the crisis having only been deferred for a brief season by the general belief that the war was about to be brought to a close by a splendid coup of the Army of the Potomac. There is a limit in the issue of paper, beyond which it is dangerous to advance, and it is now evident that this limit has already been reached, if not passed.

Rarely has the spirit of speculation run so high in Wall street as during the past three days, and though the belief that there is a scarcity of gold and silver is simply chimerical, yet it exists in a great degree, nevertheless, and the enormous premiums which have been paid for specie and its equivalent by speculators, has gone far towards confirming it. So great has the evil already become, that it is impossible to obtain change anywhere except by patronizing the brokers and paying the enormous premiums which they demand.--Various are the attributed causes for these evils, but the true and only cause is to be found in the past and prospective excessive issues of paper currency. Were it not for this, it is undoubted that gold and silver would to-day have been quoted at par, and with no prospect of being any higher. This is certainly a fit subject for Mr. Chase's thoughtful contemplation, and we trust that he will hesitate long before taking so evidently fatal a step as the further issuing of any considerable amount of demand notes. The public mind has become completely unsettled, and it is the firm conviction of many people, who make finance their chief study, that the country is fast drifting into a state as much worse than that it is now experiencing as the existing state of affairs is worse than that which prevailed previous to the enactment of the last Demand Note law.

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Miscellaneous.

Gen. Hovey is now in command at Memphis, in place of Gen. Grant, who, with his staff, is expected to be called to Corinth at any moment.

Several female Secessionists have been escorted beyond the Federal lines by General Thayer, they having refused to take the oath of allegiance. Their husbands are among the most wealthy citizens of Memphis, and are now serving in the rebel army.

It appears that there is some alarm at Suffolk, Va, on account of rumors of an intended attack of the Confederates. Sutlers have been ordered not to lay in a large stock of goods.

Hon. John S. Phelps, of Missouri, has been appointed Military Governor of Arkansas, and will soon leave Washington for that State.

The steamer Commerce, Captain Archer, bound from Memphis to Louisville, stopped below Henderson, deeming it unsafe to pass.

The French Minister, Count Mercier, has arrived at Philadelphia from Washington.

Henry Hurtt and Charles Stevenson have been arrested in Baltimore, and sent to Fort McHenry, charged with having recently returned from Richmond.

The Kangaroo sailed from New York on Saturday, with over a million in specie.