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The military District of Missouri.

--Speculation is again on foot on the subject of the rumored appointment of a General to rank Price and McCulloch for the District of Missouri and Arkansas. The report of the intention of the President to appoint Colonel Heth to that post, as Major-General, excited a good deal of comment and feeling some days since. But the report had since quieted down, and it was stated on pretty good authority that the President had abandoned the idea of this appointment, if he had ever entertained it.

The rumor that Price was to be ranked by a young Confederate officer, just promoted, traveled on the wings of the wind to all parts of the West, and, judging from the papers received at this office, excited one universal bust of disapprobation. The popularity of Price is not exceeded by that of any General in the Confederate service. No one of them has achieved so much renown with means such as he had. He placed himself upon the tide of revolutionary enthusiasm of his people, and led them on to victory with a courage and sagacity that has ranked him amongst the most distinguished and most popular of military men in the South. Especially is this the case in the West, and the temper of the public sentiment there upon the rumor that he was to be superseded was altogether unmistakable.

It is understood that there was some rivalry and discord between Price and McCulloch, and that it was deemed the best way to quiet their troubles to appoint an officer superior to them both. But even in adopting that course it is generally contended that the reelection of an old and distinguished General would have saved both the rival Generals somewhat of that mortification that would be inflicted by placing over them a young officer not yet greatly experienced, however accomplished he might be.

Col. Heth is an officer of decided merit. He is a man of true courage and honor; and it is in no unkind spirit to him, evidently, that public sentiment has been so average to his superseding or ranking the brave and successful Gen. Price. The regret has been to be forced to object to the appointment of an officer against whom so little could be said — indeed one so much respected wherever he was known. The regret was that so promising an officer should, upon his promotion to so high a position, be forced to incur a sort of public aversion for superseding the man, at this time one of the greatest of the public favorites.

The rumor that this appointment is to be made is again circulated on the streets, with what truth we are unable to say. But we trust that the matter of the trouble of the commands in Missouri and Arkansas may yet be arranged to the satisfaction of the brave people out there, and without detriment to the cause, or prejudice to that General who has proved himself one at least amongst those who are equal to the present great and grand exigency.

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