AMERICA.

Otago Witness, Issue 664, 20 August 1864, Page 9

AMERICA.

NEW FORK, June 15.

General Grant, after declaring most emphatically that he would capture Richmond, has been forced to abandon every position he has assumed; and after a month's strategy and a fortnight's severe fighting, the Federals have lost 100,000 men, in killed, wounded, and prisoners.

Large reinforcements have been sent to both armies.

The Federal Government calls for fresh troops and a loan of eighty millions sterling.

After crossing the Rapidan, General Grant marched direct on Richmond, in order to penetrate the Confederate lines, with the view of driving them across the Chickahominy. AJbattle commenced on the 3rd instant, when the Confederate position was carried, with a loss to the Federals of 2000 men.

Two days afterwards, at daybreak, Grant again assaulted the Confederates along the whole line, and carried the enemy's entrenchments at several points, but was repulsed, with loss of 6,000 men.

On the sth and 6th instant, the Confederates assaulted Grant's lines without success. •

Grant then changed his base of operations on the 13th inst., from White House to the James River, intending to post his army on the south bank.

_ It is reported that he will commence siege operations ; but military authorities assert that the i campaign has failed ; and although he is within thirteen miles of Richmond, as M'CleUan was, he could never reach that city, and would have to retreat to Washington.

The Confederates erected formidable batteries on the Mississippi, and burnt several Federal steamers.

Great excitement was prevailing in the Federal States about the Presidential election.

Fremont and Cochrane had been nominated.

The Federals were driven out of Arkansas and Louisiana by the Confederates, with a loss of 16,000 prisoners. The Fugitive Slave Law Bill was repealed by a vote oi eighty-f&gr against fifty eight. ! 'l&

The Republican Convention at Baltimore re-nominated Lincoln for President. . "

The Federal public debt is seventeen hundred million dollars.

The daily expenses of Government amount to two and a half millions.

The New York State owes (national liabilities and all) one billion dollars, equal to two hundred millions and one thousand pounds sterling — within thirteen millions six hundred thousand pounds sterling of the value of all her real estate.

The House of Representatives passed a bill forbidding time bargains for gold or exchange, or their negotiation in public places.

Gold 197^ on the 15th inst. Should Lee succeed in defeating Grant or Sherman during the Presidential contest, it was anticipated that a commercial panic would ensue, and a furious agitation of popular passions, causing a civil war in the Northern States.