12 SEPTEMBER 1863, Page 1

It will be seen, by the very able American letter

we publish to-day, that this success has greatly elated even the soberest and most thoughtful of the Northern people, among whom we reckon our correspondent. But, with the greatest deference to him, we must say that one of the characteristic differences in that trans-Atlantic temperament of which he speaks, seems to be an elasticity of faith and hope which innocently exaggerates its own successes, and mistakes its expectations for its achievements. We cannot think that any equally cultivated Englishman could speak,—with such an army as Lee's within fifty miles of Washington, and so many thousand square miles of territory absolutely untouched,—of having, "to all intents and purposes, put down" this great revolt.