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The Situation in Tennessee.

The Atlanta Confederacy, of the 24th, has an article (written of course before the reverse of Gen. Bragg) which shows that the impression prevailed that Grant was reinforcing Burnside. The Confederacy says:

‘ In front of Chattanooga active movements are in progress upon both sides. The indications are that the enemy is removing large bodies of troops into East Tennessee. Our movements will be governed by those of the enemy. We may add, in this connection, that it would not surprise us if the next general engagement is fought upon the Kingston Plains. We hear of shelling on yesterday from our batteries on Lookout. The enemy are suffering extremely from the want of firewood.

’ ss The Atlanta Register, of the 24th, has the following relative to affairs in East Tennessee:

‘ We are advised that Burnside, with twelve or fifteen thousand men, is now cooped up at Knoxville. The place is strongly fortified. Gen. Buckner had begun a system of earthworks, which the Federals have perfected, before, under the orders of Gen. Bragg, he abandoned the city. We learn that before Longstreet had reached Knoxville, Burnside had gathered there a large supply of corn and wheat, and that two mills of the city have been for some time past constantly used in the production of flour and meal. The Yankees, then, have enough bread and water, and hence the stronghold cannot be reduced by famine. In addition to this supply of provisions, the enemy have collected in the place six thousand hogs. We are, therefore, inclined to believe that the Federal soldiers have been furnished with half rations simply in the excess of Burnside's caution.

’ There is one fact which is very consolatory: The enemy have been unable to bring across the mountains any guns of heavy calibre, and in this Longstreet must have a great advantage. The grist mills will not ran many days.

From what we have heard and know of Longstreet his impatient spirit will hardly brook the delays of a siege. The heights will be carried by storm if Burnside will not retreat across the Holston.

Wheeler and Ransom are now beyond the city, and thus Burnside is cut off from communication with Cumberland Gap. If he crosses the Holston he will be lost in the mountains of North Carolina, and his escape would be as remarkable as that of Xenophon's ten thousand. But he has not retreated yet.

The success of Gen. Bragg's strategy depends upon two events — the capture of Knoxville and the failure of a rise in the Tennessee. If the Tennessee become navigable, Grant's armies will be abundantly supplied, and they can at once flank

Bragg and move South, when another fierce conflict will speedily occur, the result of which we do not fear. If the Tennessee does not rise, and Knoxville fall into our hands, Grant is flanked, his communication with Nashville is threatened, and he must retreat. The railway can hardly feed his immense army, and with it endangered his troops would starve.

Twenty thousand Federals were, on Saturday, at Trenton, a place thirty miles Southwest of Chattanooga, at the terminus of the Wills Valley Railroad. This is said to be Sherman's corps, or a part of it. We need not state what measures have been adopted to check this movement; but it will be done.

Five hundred tents or more disappeared in Chattanooga on Saturday, and there seems to be a considerable diminution of the Federal force at that point. Bragg is on the qui vive. There was heavy firing all day yesterday, (Sunday.) This was done to cover the movements of the Federals. It is thought that Grant wishes to relieve Burnside, and hence is sending troops towards Knoxville while making a diversion in the direction of Rome. Our lines in front of Chattanooga are entrenched, and we need only leave a small force there, reduced as the enemy reduces the garrison.

The Register contains the following telegram dated London, Tenn., the 21st inst.:

Burnside burned twenty-five houses along the railroad last night fronting our lines. The machine shops and the Humphrey's House is supposed to be burned. Burnside charged Longstreet's right and was repulsed. Longstreet opened from our batteries and silenced them. Great confusion prevails in the Yankee camps. Brownlow and Maynard have gone to Kentucky.

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