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Exaggerated Reports.

We caution our readers against being in haste to believe all the large stories about rebel losses before Richmond in the recent battles. Some of these stories of course are too absurd to believe — as for instance the statement that they must have lost 75,000 men — but some will say that though this is too large a story, some approximation to it is probable. It will be the safest and wisest course to reject all stories about rebel losses until our own losses are ascertained, as it stands to reason that if our officials don't know their own losses they nor others can hardly be well posted as to losses of the enemy. Some of these stories are the merest guess work, got up expressly for sensation purposes; others are intended as a sort of solace for our heavy losses, to be made known in due time, and others again are the braggadocio of excited soldiers. There has been quite enough of this underrating the strength and ability of the rebels, and we may as well concede that — no matter where the blame lies for our disconfiture — McClellan's progress toward Richmond is in the last month has not been particularly rapid or bloodless, and that we must do better in future or not expect to get there.