,
Secretary of State, dated 17th of October, 1862, that if the Federal
army shall not achieve decisive successes by the month of February
ensuing, it is probable the British Parliament will recognize the
Confederate States. To-morrow is the last day of January.

I cut the following from yesterday's _Dispatch_:

"_The Results of Extortion and Speculation._--The state of affairs
brought about by the speculating and extortion practiced upon the public
cannot be better illustrated than by the following grocery bill for one
week for a small family, in which the prices before the war and those of
the present are compared:

1860. 1863.

Bacon, 10 lbs. at 12-1/2c $1 25 Bacon, 10 lbs. at $1 $10 00
Flour, 30 lbs. at 5c 1 50 Flour, 30 lbs. at 12-1/2c 3 75
Sugar, 5 lbs. at 8c 40 Sugar, 5 lbs. at $1 15 5 75
Coffee, 4 lbs. at 12-1/2c 50 Coffee, 4 lbs. at $5 20 00
Tea (green), 1/2 lb. at $1 50 Tea (green), 1/2 lb. at $16 8 00
Lard, 4 lbs. at 12-1/2c 50 Lard, 4 lbs. at $1 4 00
Butter, 3 lbs. at 25c 75 Butter, 3 lbs. at $1 75 5 25
Meal, 1 pk. at 25c 25 Meal, 1 pk. at $1 1 00
Candles, 2 lbs. at 15c 30 Candles, 2 lbs. at $1 25 2 50
Soap, 5 lbs. at 10c 50 Soap, 5 lbs. at $1 10 5 50
Pepper and salt (about) 10 Pepper and salt (about) 2 50
---- ----
Total $6 55 Total $68 25

"So much we owe the speculators, who have stayed at home to prey upon
the necessities of their fellow-citizens."

We have just learned that a British steamer, with cannon and other
valuable cargo, was captured by the enemy, two days ago, while trying to
get in the harbor. Another, similarly laden, got safely in yesterday. We
can afford to lose one ship out of three--that is, the owners can, and
then make money.

Cotton sells at _seventy-five cents_ per pound in the United States. So
the blockade must be felt by the enemy as well as ourselves. War is a
two-edged sword.

JANUARY 31ST.--We have dispatches from Charleston, to-day, which
reconcile us to the loss of the cargo captured by the blockading
squadron early in the week. An artillery company captured a fine
gun-boat in Stone River (near Charleston)