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The latest intelligence from Spain is nearly unintelligible. Serrano, it

is reported, has returned to Madrid to assume the ordinary government, while General Manuel Concha, brother, we believe, of the better known Captain-General of Cuba, assumes the command in the field. If this is true, Serrano's attack on the Carlist position has failed ; but the whole affair suggests that there is some intrigue going on, which requires the presence of the Marshal in two places at once. Even the fact of Serrano's departure is not accurately known, any more than the real position of the Carlists, who several observers believe to be negotiating with their opponents. There is no rising in any city as yet.

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