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Latest from theFredericksburg, Northern papers, of the 16th been received. The following is a of the most interesting news obtained them: From the New York Herald, of the 16th inst., we copy the following: ‘ No confirmation of the rebel report that Banks had been defeated by Kirby Hooker returned to the army from Washington yesterday, and the telegraph tranquility, on the banks of the Rappahannock. Mosby's movements continue to create solicitude. It is said his object is to cut the Baltimore and Ohio railroad. The Mexicans still hold Pueblo, and are receiving large reinforcements. The the French appears to be most critical. John J. Crittenden has received the Union nomination for Co. grace in the 7th of Kentucky. He the rebellion, and has pledged himself to support every measure of the Administration tending to a vigorous prosecution of the war, until the power of the Government and the Constitution is re-established in all parts of the country. The stock market was rampant yesterday. Erie rose 4 per cent., with enormous transactions. Gold was dull, at 150. Exchange was inactive at 165. Cotton very dull and prices down to 59c to 60c for middling. ’ Washington, May 15 --Such ideas are now thrown out in high radical quarters as to warrant the belief that sound ideas prevail as to the proper method of operating hereafter to break the backbone of the rebellion. General Hooker was in Washington, making social calls with Mrs. Lincoln, and appeared in excellent health and spirits. Rebel property in Washington is to be seized by the 1st of June. Much difficulty exists in obtaining proof on which to base legal proceedings. The English schooner Wanderer and the, sloop, Express, from Nassau, blockade runners, have been captured. Stanton refused to advance money in aid of the organization of blacks in Washington until they are numerous enough. Gen. Stoughton has been restored to his rank. Cincinnati, May 15.--Judge Leavitt renders the decision in the Vallandigham habeas corpus case to-morrow. It is understood that Gen. Burnside will announce the disposition to be made of Vallandigham as soon as the Judge's decision is made known. The Herald says two or three wretched papers at Washington, feeding on Government crib, maintain that Burnside has done better in the capture of Vallandigham in the town of Dayton, Ohio, than if he had succeeded in capturing Fredericksburg and Gen. Lee. The Star and Chronicle seem to be ignorant that he has knocked his head against a thicker wall and precipitated himself into a more dangerous collision. Everywhere public opinion, without distinction of party, is pronouncing against Burnside's course. The united press of the Empire City, with the exception of the Times, are of more value than the tune played to order by the two miserable organ grinders at Washington. The Herald says the "loyal leaguers," or royal leaguers, at Philadelphia, are about to attempt breaking up all organizations hostile to the Republican party. It is evident that the design of the Abolitionists in to create an insurrection in the North, in order to obtain an excuse for making peace with the South.--They are unable to put down the Southern rebellion, produced by the anti slavery question, and now they propose to foment another rebellion at the North by the suppression of free speech. Let them beware, lest they raise another monster which they cannot quell. The Herald believes that Hooker "is to have another opportunity, " although "it can hardly be denied that his late nine-days' campaign is the most inglorious of all the failures of our General's in Virginia since the beginning of the war. " We do not suppose he will advance for some days or weeks to come. We copy from the New York Times, of May 16th, the following: ‘ General Grant expresses himself satisfied with the condition of affairs in his vicinity. --Dispatches of the 8th prove it is untrue that he beat Bowen on the 6th, or that Bowen repulsed him on the 4th. He states that Port Hudson is evacuated except by a small garrison and their heavy artillery. He will endeavor to cut the railroad between Vicksburg and Jackson, and a battle is expected in the vicinity of Big Black river bridge. A Jackson (Miss) dispatch, of the 11th, says Grant will probably advance east, and not direct to Vicksburg. Another dispatch, dated Vicksburg, May 11, says: ‘"Nothing of importance to- day. A barge, laden with coal, ran past the batteries last night. The enemy's fleet above the city is increasing."’ ’ From Tennessee.--Louisville, May 15.--Col. Jacob, in Sunday's fight with the rebels Clarke and Chenault, at Horseshoe Bottom Narrows, on the Cumberland, lost forty-two men, including three officers. Chenault and several other rebel officers and ninety-eight of their men were killed, and three taken prisoners. Col. J. H. Morgan, commanding 4,000 men, is still on the south side of the Cumberland. His proposed raid into Kentucky has been defeated. The Cumberland is falling, with five feet of water on the shoals. Cape Girardeau, May 15.--Gen. McNeil was wounded in the hip this morning, by accidental discharge of the pistol of one of his aids. The wound is not serious, but it will prevent his taking the field for several weeks. The Conscription Law.--Stanton has decided that the acceptance of $300 in lien of service is pernicious and not mandatory; that he is not a national treasurer, and has no time to hunt up substitutes. The President concurs, and the clause selling exemptions at $300 will be practically ignored. Conscripts must hunt up substitutes at their own price, or volunteers will be called for to be accepted only as substitutes for drafted men, and receive the Government bounty and the conscript's price of exemption besides. A special correspondent from the Army of the Potomac says the late sensation falsehoods about the recrossing of Hooker's army must have given the believing North a severe fit of indignation and seriously injured the army, and produced bad blood and hard feelings among men and officers. He also says: ‘"The fording of the Rapidan by Slocum and Howard at Germania, and Meade at Ely's food, is among the most brilliant achievements of the war! "’ The estimate of loss in the Army of the Potomac is now reduced to 11,000. The rebel raiders in Western Virginia are still hanging about Gilmer and Wirt counties, plundering and moving out of the county what they have already stolen. They appear to be doing pretty much as they please, and nobody seems to know anything of their future designs. The Times says the fall of Richmond would have been but the fall of a city. The fall of Vicksburg will be the fall of a half of the Confederacy. It would render the death of the whole concern simply a question of time.
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