4 APRIL 1874, Page 2

Serrano is, we think, slowly winning, —that is, in the

great pounding-match going on round Bilbao he is forcing the Carlista out of their entrenchments. His losses in killed in one day ex- ceeded the strength of the whole European force under General Wolseley, but the Carlists lost as many, and the loss is of itself a good omen for the Republicans. If her soldiers will only fight properly, Spain must beat Biscay and Navarre, and when so many die the soldiers must be in earnest. Serrano is now calling for reinforcements, and 5,000 of the Guardia Chile, the best fighting men in Spain, were, by the last adviees, on their way to join him. If he will only keep on for a week "pegging away," as Lincoln said, and run any risk of temporary disorder, and accept no offers whatever except unconditional surrender, Spain may bend of Carlism for some years.