_The Grove, December 31st_, 1854.--The last day of one of the most melancholy and disastrous years I ever recollect. Almost everybody is in mourning, and grief and despair overspread the land. At the beginning of the year we sent forth an army amidst a tumult of joyous and triumphant anticipation, and everybody full of confidence and boasting and expecting to force the Emperor Nicholas in the shortest possible time humbly to sue for peace, and the only question was, what terms we should vouchsafe to grant him, and how much of his dominions we should leave him in possession of. Such presumptuous boasting and confidence have been signally humbled, and the end of this year sees us deploring the deaths of friends and relations without number, and our army perishing before the walls of Sebastopol, which we are unable to take, and, after bloody victories and prodigies of valour, the Russian power hardly as yet diminished or impaired. All last week I was at Hatchford with Lord Grey, when we did nothing but talk over the war, its management and mismanagement, Raglan, etc. Grey's criticisms are clever and not unfair, far from favourable to the Government, but detesting Derby, of whom he has the worst opinion, formed from a very ancient date and upon long experience of his character and conduct. Grey's idea is that there has been much mismanagement here and still greater on the spot, and that Raglan is quite incompetent and, as far as we can see, nobody else any better. The opinion about Raglan appears to be rapidly gaining ground, and the Ministers have arrived at the same conclusion. THE FRENCH ALLIANCE.