Mr. James Spence, the agent of the Confederacy in Liverpool,
has the good fortune to find alike in the victory or defeat of the Southern Commanders presages of speedy and ultimate success. He writes to yesterday's Times to point out that Bragg was just as much "beaten and demoralized" before his victory at Chicka- mauga as he is now after the reverse which has nearly destroyed his army, and that be has, therefore, just as much chance of re- covering now as he had then. Unfortunately, Mr. Spence is more ingenious in his theories than accurate in his facts. Before the battle of Chickamauga Bragg's army was neither beaten nor de- moralized,—it was swelled by heavy detachments from the army of Virginia, and accomplished on the army of Rosecranz in its attempted retreat to Chattanooga precisely the same operation which Grant has now successfully accomplished on Bragg, namely, catching it in the awkward moment of preparation for retreat.
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