Transcribed by Emily Smith. Geo. DR. LEYD'S PREDICTIONS. A gentleman attached to one of the European Embassies in London has received a letter from Dr. LEYDS, who writes in a characteristic vein of confidence. Dr. LEYDS boasts that since the war commenced, Continental military men have passed into the Transvaal by way of Delogoa Bay in considerable numbers, and that British vigilance has been unable to prevent the conveyance to Pretoria of stores and ammunition in great quantities. He says nothing about guns, and therefore current stories about these being smuggled through Portuguese territory in piano cases may perhaps be dismissed as baseless. Dr. LEYDS still assumes (with what sincerity there is, of course, no means of judging) that the Republics will win the day, and impose terms upon the Imperial Government. The Transvaal generals have absolute knowledge, he says, that the Ladysmith garrison is in a very straitened condition, and that its morale is seriously lowered, hence the almost superhuman efforts which the Boers are making on the Tugela to keep back General BULLER, on whom the infliction of a second defeat would, it is believed at Pretoria, practically bring the war to a conclusion, because Ladysmith would certainly fall, and the whole garrison would be carried over the border as prisoners. "Such a catastrophe to the British," adds Dr. LEYDS, "would produce a shock from which it would be impossible for the Imperial army to recover. SALISBURY and CHAMBERLAIN would then be ready to discuss conditions of peace, and we, with our future independence secured, would not be extravagant in our demands. But England will have to pay in hard cash for this war." Dr. LEYDS adds the information that he was able before the war began to lay before three of the principal European Governments an accurate estimate of the splendid military resources of the two Republics, and that the apparent indifference of the Continental Powers to the fate of the Boers was in reality no indifference at all, but a quiet conviction that the British army was absolutely unequal to the task which the British Goverment was imposing upon it. Dr. LEYDS declares that he is still in confidential communication with the leading statesmen of Europe, and that if by an mischance the fortune of war were yet to go against the Dutch in South Africa, England would instantly be distracted by complications in other parts of the world. -- Emily Smith