4 JULY 1863, Page 3

Our intelligence from America is simple, though overloaded with guesses.

General Lee has not invaded the North, but he has traversed the Shenando.th Valley, and turned eastward through Thoroughfare Gap, looking towards Washington. North of him his cavalry are streaming into Pennsyl- vania and Maryland, to Collect forage and spread dismay ; and east, between his position and the capital, lies General Hooker. Before the Confederate chief can accomplish any- thing serious he must destroy Hooker's army, which has behind it the lines of Washington and Heintzelman's enormous garrison. The enterprise will be a difficult one ; but without it he has only, it would seem, to move back again unsuc- cessful.