23 JANUARY 1864, Page 2

There is a lull in American news which will scarcely

be broken for another month. The weather keeps the armies from moving, and both sides are very diligently completing their levies. The few items of news which have arrived this week are slightly unfavour- able to the Federals, the Confederates pushing them northward in the Shenandoah valley ; but they are gaining ground in Texas, are inducing Maryland to emancipate, and are planting military colonies down the Mississippi. The principal topic in New York seems to be the struggle about exchanging prisoners, the South refusing to give up negro soldiers or men who have commanded negroes. The 38,000 Confederates now in Northern hands are, however, to be massed in General Butler's department, that officer thinking he has a plan for compelling the South to give way.