Northern Times.
Liverpool, Merseyside, England, 1860-02-06 00:00:00

GLASGOW IRON.

Market .quiet. -Quotations No: 1/60s. to 60s.
Warrants, 60s. 9d. to 61s. ; Makers' Iron, 60s. 6d.1
No. 3, 695. 9d. to 60s. 3d.

TRADE CIRCULAR.

. • STAFFORDSHILE,IRQN. • ,
. In his weekly circular, Mr. Samuel Griffiths says
• The notification contained in our last report of the iiiten7,_
tion of-the Scotch-- kw:master:. to-blow out-ill:the fur-
naces proves to be quite correct, and has created a great':
• sensation throughout the whole trade. -.1-Aa the Wol-
, verhampton
_meeting on Wednesday this was the
subjeft-. of
,general"- • eenvecsatiqnv ; the ..questi.4
was universally asked; Will the- Seotch irlinma4ers bI6W
the furnaces out ? A telegrain,lhOWeVar;.soOnlanswered
this question, stating that 70 of the furnaces were-
alietidyl damped. The meeting was cheerful, and the
tone 'of the market for Pigs good, 'notwithstanding
the' Bank had raised the rate of disoOunt.,
one per cent. the day before.' The next day 'et Bir-'
minklani'; the:Scotch -dispute was- again the subject
of general conversation, and at' threejo'clOok'd-felegrarn
arrived from Glasgow stating that,B7,,furnace.s had been
damped, and another from London tb the effect that the
Court of the Tank direct Ors 'had broken up with-
Oliflhrther advancing-the Tete ef'diseohnt7"--The'lltter
information was very acceptable, it being generally
known. en !Change that the pregsure for Money, in Lon-
don-the daybefliee.htid ,been' .4 6 Most exliaoidinify
character, and on this account further stringent actfort-
of the Court was expected. The meeting generally
cordiallmoincidetwith the course taken by the Scotch
Ironmasters, it being admitted on all hands that an
advance of wages could 'at' ifoisibly 'tie entertained
with :theT,presen,t, prices for Jon
.eithen Scotland:9A%
any other Iron-producing district. -The Market for Pig
Iron . 'Was firin,- ifia the ttiansietieris :Which I: took
plaeo-in-Pigs-were-quite-up--to-the ruling- -rate*,
Finished iron there julittle change to tiotice, since- oF
last, the Orders to hand are perhaps abdve the late average;_
the general demand for Nail Rods continues very brisk,
and most of the makers of this sort have orders on their
books sufficient to keep their works filly employed for a
very considerable period., The leading:makers of Sheets
and Plates are likewise well off- for orders, and -several
indents have been received this Week"for Angle Bars:
for the East Indies and' Australia, and small orders for
Doubles and Latien, for the ports •of the- Meditercaneam-•
The trade in North ,Staffordshire is in full activity, the
manufacturers here having large orders on band, which
will find them employment for some time to come, par,
tieularly for Plates, the quality of which is being spoked
highly of. We visited North Staffordshire during the
past week, and were highly gratifidd with the ,progress
made in the manufacturing- department during the past
six months in this district. The MiddlesborOugh•Distriet..
—The stocks of. Pig Iron here by no. means com-
, mensUrate with the.large orders 'for rail bars and other
I sorts of inallealke Iron on hand. It is. computed that
the orders on hand exceed the 'stocks of the raw material
by 100,000. tons. All the great works are fully, occupied
here, the same may be,said with regard to, the Durham
arid Newcastle district. In South "Wales the trade is
more confined. to railway bars; seine- 'of the large:
works are fully occupied, while others -are considerably-
less. active. The official list of prices 'of Staffordshire
finished Iron is as follows :-Oomtnon Staffordshire ba,rsv.
£7 10s.„ at the works ; 'best bars, £8 10s. ; sheets,' 49
doubles; £lolos. ; nail sheets, £8 lOs. ; latin, £l2; boiler
plates, £9; best an best best in proportion; common rods,
47 10s. - Hoops, £8 -10 s.; Gas Strip, £8 ; Canada
Plates;-£i2, and all other sorts in proportion. These are
the official prices--Pig Iron Current prices,-Staffordshire
Cold Blast, £4 103. ; Best Native Hydrate Pigs, £3lss.
, to £4 2s. 6d. ' • "first-class All Mine Grey Forge Pigs,
£3 10s. to £3 15s. ; Good Mine Pigs, with'a modicum
of Flue Cinder, £3 to £3 ss. ' • Mine Pigs, deteriorated by
Cinder, £2lsx. to £3 2s. 6d. -,Grey Forge Cinder Pig Iron,
£2 15s. to £2 17s. 6d. White Forge Cinder Pigs, £2 10s.
. to £2lss. Melters, Nos. 1,2, 3, £2 17s. 6d. to £3 2s. 6d. ;
superior makes of all mine melting iron, £3 lOs. to £4,
according to make and quality. Favourite Shropshire
and Forest of Dean brands, £4 10s. • The Glasgow mar-
ket for Scotch" pigs MLA heen very much excited during
the past week,- closing with an established advanee.of
3s. per ton over the opening-price this day week. The
ironmasters have cfxried out- their resolution of Friday,
the 27th ult., to the letter ; eighty-seven' furnaces are
already -blown out, and the blowing out process is to
continue until Wednesday week,' when the future course
of the great producers of pig iron here will be decided
by the attitude . assumed by the coalmasters and their
men. .The market cloied firmly yesterday (Friday) p 1 s.
buyers. Tin—A reduction of £4 per ton on refined, and
£2 per tsn on common, topic
,plaec at a meeting
of the smelters held in London yesterday afternoon:
The present price of Refined is £l3B ; Common Bars,
£137 ; Block and Ingot, £136, free on board,. less 21
per cent. discount. The present price of Refined Straits,
is £l3l ; Banca, £137, nett cash. The reduction in the
price was not expected, a large business having been
done last week in. Straits, in Holland, at improved

THE DA'Y'S NEWS.

By recent accounts from Naples,
,we are given
fo'uilderstand. that great uneasiness prevails in
official circles, in 'consequence of the irresistible
conviction that the; present- Sibilormal state of
_things in that kingdom cannot last much longer,
and that a crisis must be at hand, and may arise
'anjt nicinient: ' The - of the King,
who is said to have no will of his own, renders
amendment- from him Utterly hopeless. The
Dowager Queen directs affairs as she chooses, and
wren the King obeys her; and she, as the
daughter of the late Archduke Charles, is, of
iotirle; `so -entirely Austrian in her sympathies,
that it were --vain to look to her for any wise
change .of policy. •!.
•
Recruiting in Austria for the Papal and- Nea-
Pdlitari'armies Still goes on briskly. A steamer,
=carrying Roman colours:, we are told, is now
running between the Austrian seaport Trieste,
`-and the Roman seaport of Ancona, by which
-medium about.: fifteen hundred recruits have
already been sent from Vienna to Italy. At
l3regeuzi in ;Austria, there also a .regnlir
recruiting office for the Nettpiilitaii OOVerinnent.
The Emperer Francis Joseph while kept in
check by the discontent of his Hungarian sub-
jeefs, on the one side, and by the Venetians, on
'the other, has now to deplore the spread of dis-
affection in the Southern Tyrol, upon which, above
all; he was want to rely as containing the most
:faithful followers of his House, and the no less
•ffieientilefenders of an important frontier.--The_
late* news .from Trient and Roveredo, in that
provinCe, is verfunfavourable. Victor Emmanuel
is publicly spoken of as " The Kilig," and re-
volutitinAty placardt are posted every fxight. :If
the revolutionary spirit• should go on spreading
for another twelve months, as rapidly as it has
done during- the last year, what may •-:we :not
expect? • -
.The -Jews in Austria are the objects of the
bitterest hate of an influential party at Vienna,
and.there seems to be no. small danger of their
soon becoming the victims of a violent persecutan
from that quarter. The last number of the Vienna
Kircher Zeitung contains, no fewer than four
tf,i;les pgninst them. :The_tene of these -writings
is described as positively "rabid." The writer,-
Dr. Sebaitian Brumier, is 'supported in- these
;attacks by:influential persons ; and if violence
ishthilik-- be employed against the unfortunate
Israelites, the Crime,.it is Said; will chiefly lie at
is door. - ----
; ,Ulttnruontanism and Roman Catholicism,, as we
have often had occasion to point out, are not .
exactly, synonyinous terms ; although many of
our Radical contemporaries have sometimes pre-'
tended not. to see the distinction,—and nowhere
is the difference more clearly recognised than in
Roman Catholic countries. Thus, even in Austria,
'where the. people generally care but little for
•
religious and political distinctions, "the Jesuits
ptnd -Liguorians who have been the great apostles
iof Ultramontanism there as elsewhere, are: bjects
lof popular hatred; and we learn by a recent
ladvice, that should there be another revolutiOn;
(they would be in the greatest. danger of their
!lives, while it is not considered likely that a
single hair of the head of any other priest pr
monk would be injured..' The reason is siniply
this: that while a good Roman Catholic may be
a sound patriot, an Ultramontanists cannot.
A long letter has been issued by Dr. Cullen,
the Roman Catholic Archbishop of Dublin, ad-
dressed to his " Reverend and Dearly Beloved
Yireihren," The Paiish—PrieSPT—The purport Of it-
;is to request a collection, 'on the first Sunday in
Lent, for the purpose of raising afund to assist
the Pope. H-e expounds to them the Romish
doctrine of the supremacy! and infallibility of
'the Sdvet:eign: Pontiff, the dUties *hid' in virtue=
of his high office he- is charged to•perform, and
the correlative obligations under which the
faithful' are placed to assist him with-substantial
contributions in return for the spiritual ad-
vantages---his -Holiness confers on them._ - _Re-_.
ferring to. the,..revolt of • the Romagnas,
this fearless champion of his Church does not
hesitate to say that " the 'struggle in this -ease is
not in favour of liberty and good government,
it is au. attempt to subvert ancient and fully
recognised rights, to disturb the foundations of
society, and to, establish the pernicious principle
of anarchy, sedition, and irreligion." And again,
that all this " has been encouraged by British
Statesmen." The Irish people are called on to
become tetotallers for a month, or, at all events,
Ito' give up their. favourite " potheen " for
that period,—and the half of the saving is to be
given fa the Priest " as'a tribute to St. Peter,
!which will be meritorious in the sight of God."
!The parochial clergy are requested by their
'Archbishop "to insist upon this suggestion..'
!The arguments adduced in support of this very
' practical hint are, that the daily use of ardent
spirits is a practice frequently destructive of health,
and oftentimes brings on ruin and disgrace, and
is the occasion of innumerable sifts.' It is further
suggested that ornaments -in dress and objects` of
luxury ought also to be dispensed with for the
same "meritorious" collection and subscription ;
• and in conclusion, the intimation is given that, to
encourage the people and stimulate them in the
performance of the duties thy are thus ea led on
to' perform, $' a portion of the wood of the Holy
Cross, lately given by his Holiness to the Arch-
bishop, will be expond, before Lent, to :the

demtion of the faithful, in the- Metropolitan
Church:" No doulit` this- irresistible appeal will'
be generoisly responded to by. "the faithful."
' Ministers are increasing the Radical element
tin their--body. They have -just--admitted
Hutt, the 'Radical member for Gateshead, into
their councils. He has accepted, it will be see+
the office of President of the Board of Trade,
which had beeerne vacant by the removal of the
Houourable. W. 'Cowper to the Lord Commis-
sionership of Works.
_ _ •

The wine -trade is evidently thrown into a great
;ferment by the proposed reduction of duties on
'French wines. These reductions-will undoulatally
;militate in no slight degree against both Irritisil
!andreolonial interests. Our colonial wines are'
'now becoming articles of general consumption •,
'but it is more than piobable that their use will
dwinfile away through the force of the more,.
favoured circumstances under which French wined
be introduced. Another: apprehension
and it is one thatwill most materially affect our
hotne interests—that the more extensive use of
French wines will diminish the consumption-of
malt liquors. At any rate, by the reduction of
the duties on French wines a very great risk.will
.be run, both as respects British and Colonial
interests ; and in the present financial state of
the_country, with a heavy Income-tax pressing
upon the trading classes, it would certainly seem
,to be a very questionable policy that is to be
proposed for the adoption of the House of Com-
mons to-night.

Staff appointments in the army are TIOW ten-
able ,for five years only; and this regulation is
to be applied throughout: the service generally,
and also at headquarters; 'so that some of the
chief authorities at- the. Horse Guards, as " staff
officers," will retire -from their posts, and -make.
way for successors during the course of the pre=.
sent year. The Times regards the principle thus
established with extreme satisfaction. When all
;such offices become vacant by the insensible ope-.
ration of a fixed rule, the services of tl:_ose who-
:may have proved unfit for command can be .dis-
pensed With without any trouble ; and while the
effect of this order will be to get rid of the hie-61h=
petent, it will bring forward the deserving,—a,
process at all times valuable, but, in the present
transition state Of military science; indispensable.
It.,s-gems_pnbable that, simultaneously with._ ,
,application of this new law, and in some Meaiiire
as a necessary adjunct •to it; will be recognised
the propriety of distributing prefermentrby-the
test: of merit, throughput. the ranks of the profes.
sion ; so that the regimental officers may be more,
liberally dealt with in these matters, and the
legitimate prizes of the services be opened up to
them, instead of being, as at present, practically
beyond their reach:,
At the last meeting of the Council of the Ballot
Society in London, Mr. Duncombe's proposed bill
for the future adoption of the ballot at Gloucester
and Wakefield elections,was discussed in a very
jocose manner. The Chairman informed the
11r.P.s and othefifehtlenteri-pre-sent, that " hehad
seen a -gentleman concerned as one of Mr.
Leatham's agents in the Wakefield election, who
had said that if the ballot had existed in that
town, not a 'dozen men would have been bribed."
Such high authority surely cannot be doubted,
and- of- course the whole question at issue may be.
considered settled accordingly. The chairman
was followed by the lately defeated candidate for
Beverley, who graphically described himself as-
" the last eel-that had been skinned ;" and, after
this-highly classical allusion, he said he was of
opinion that one trial of the ballot would be quite.
enough to risk ; he was not disposed to assert that
the ballot would put an end to bribery; but, strange
to say, he was quite sure that if it had existed at.
Beverley last Tuesday, he would have been re
turned " in. spite of bribery." With equal' con-
sistency he considered that ." bribery became a
matter of necessity." Another speaker thought
that " The House of Commons might submit to a
tentative measure while they objected to a prin-
ciple." This was a very sinister compliment to
the intelligence and honesty of the House of
Commons:- Mr. Sejeant Gaselee considered the
in-Mitre a most suicidal- Oriehe-lia-d- -grey
, objection to it: In regard to the proposal to limit!'
the operation.. of, the .ballot to ten years and t3these particular towns, he was afraid the result
of the experiinent would be to put back the cause
of the ballot,—naively adding—" people were so
much against it." The' learned serjeant did not
think that the infliction of a partial ballot upon
Wakefield and Gloucester was, the exact sort of
punishment they deserved. He , would stop
the writs for these places altogether. In iefeience
to Mr. Serjeant Gaselee's waggish idea of the
Ballot being a punishment, Mr- Berkeley, M.P.
thought he might improve npon it by " viewing
it in the same way in which -vaccination for the
Smallpox was regarded." A subsequent speaker
thought that such places were ill-adapted for the
Heinforrned his friends that "the Ballet
, ,
could not make head against corrtption in small
places." It was resolved; however, to support
Mr. Duncombe's bill, if ever he should Meet with ,1
the scarcely-looked-for success of being able to
brut°, it.into the Rouse.
•We had, two steamship arrivals from America
yesterday, both vessels ,belonging to the British'
and-North Americau Royal Mail. Steampacket
Company. These were the Europa, Captain`"
Leitch, 'froth' -Boston, whence she 'stifled on Wed-
nesday, the 25th ultimo ; *and the - Jura; Cap-
fain Moodie,' from New York, whence she
also sailed on the same :day. Both ves
sell, it will, therefore be readily apparent,
have made good passages notwithstanding
the fact that the Jura sustained a trivial
accident by the breaking of one of her discharge
valves, which caused her a detention of three
hours. The intelligence by these arrivals is not
of great general interest. So late as the 24th,
no Speaker had been elected by the House of
Representatives, -and consequently the regular
business of the session cannot as yet be said to
have commenced. The debates, lhoth in the House
and in the Senate, although still partaking., a
good deal of personal acrimony, do not present
'any such sakieut;points for remark as:. have char-
acterised the proceedings on several recent occa-
sions ; but so farqui 'present appearances warrant
the:formation elan opinion, no progress wha.teyer
las been made towards the commencement of
real business. To an unconcerned spectator the
whole affair rippeara to bt exceedingly absurd
;but to those who prlfess to understand American
!policy—or politics—the matter is said to be easily
intelligible. Personal pique, and individual aggran-
disement are said, by those who are in the secret, to
ebeti
smmu,cohr mpourbel
ipeo tsepni
rti
tand. aTcht iev Lai
ng emnecie
r e isatlhaan ndp
ma ter it::
cantile classes are now beginning to complain of
cante d Statesutt er.
seems to be in a fair and moderately prosperous
condition.
the adverse effect produced on their business by
the "uncertain sound," which, under present =-
iscGuemsnetraanne;s
speaking, all
businesshat the i n legislaturethe un

WE scarcely know whether the " great Liberal
party " is now looking forward to a long lease of
power; but They cannot, at all events, justify any
incompetence which they may be guilty of by
denying that their reign has been commenced
under external circumstances unusually favour-
able to the present directors of their fortunes.
The movement by which the latter succeeded
in overthrowing. Lord DERBY'S Government, was,
tactics. That most
vexed of all questions; upon which their party
at the beit, very- questionable. Yet it is appa-
rently forgotten ; at least, so far as it might in-
volve embarrassing party

!hopes have at last so profitably traded, has,
some fortuitous concurrence- of circumstances:
Moulded itself into a Meat manageable 'sltaße•
By Pretending an extreme anxiety for reformat'
the same time that reform was of all subjects Ore
one they would most Willingly have shirked:
except when it presented itself as a party-weapoa
to be thrust into the sides of an opponent, rather
than as a responsibility of Which they were to.
acquit themselves, they enlisted the support of
the Radical sect, and competed successfully for
power. Now that they are in power, .the ether
end of the weapon is apparently well: in their.
hands, ready to poke-in-- the faces-of- their
quondam allies. The tables are now turned ; and
the ConservativeS are to assist the moderatp-
occupants of place to resist the pressure of to
precipitate Radicals. The system of Party noun-'
terpoise which ought to have operated as favour!'
ably on the side of a Conservative Government,;
but-which was factiously distorted into aThign-S"
Of embarrassment, all parties seem willing shoult
be appropriated -by their Whig successors 'as%
very efficient means of secnrity in the manage-
ment: Of a. perplexed question. present
calculation appears.to be this: that hi considers-
tion of its being O. valuable instalment, and
any case, Case, as much as they can get, the Radicals'
are to accept silently Lord JonN RussELt'S
that in consideration of its being not so bad as.'
it might have been, the Conseryatives are not to
oppose it. The oddest feature in this compromise
is certainly what we are now intimating, that

things have been brought to this accommodating
level solely for the benefit of the Whig party'
and to make their official way smooth before
them. But whether everything in State polities
and in party tactics is to hinge upon this consi-
deration—albeit important as it is to Lord Joug
Ru§sALT.. and Company=is a question which the'
intelligence and the virtue of the country map
yet answer in 'the negative.

Another .circumstance that might seriouslf
have embarrasied Ministers was the discontent
that was being occasioned and increased by the'
defenceless condition of the country. The did"
culties :that attended, this question have beell-
removed or greatly lightened by the extraordi-
nary outburst of Volunteer fervour throughout
the nation. Whatever peace cavillers may ssYr
there can be no real doubt that the spread of $
martial spirit through all classes of the popula"
tion is not only 'the best security of peoples, but
the most legitimate relief to governments. The
present GoVernment have been compelled in they
own behoof to take advantage of this patriotic'
sentiment, and have thus attained the good for'
tune of at once seconding the general wishes of
the country, and relieving themselves of a respon"
sibility which it would have been perhaps impos"
sible otherwise to discharge, or not to discharge'
without' considerable danger to 'their political
position. The matter is, in effect; taken out of
their hands, and the mouths of the so-called
peace-party on the one hand, and of the financial
economists.on the other, are fairly and,decisivelf
stopped.
f
It must be acccunted ,a still further piece - o
good fortune, that: just on the eve of the session'
when Ministers would have been called upon tir
give in an account of their conduct of foreign
affairs, and especially of the relation 14

which England was /(1 _be placed with re;
gard to the expected Congress, the unassisted
progress of events took this too out of their
hands, and put its veto on the scheme which:,
had awakened so much question and dispute 3'
the very close of the previous session. 131
large party in the House, our participation in
Congress was looked upon with extreme jeal°llsl
and suspicion, if not with positive disapprobati°nt
It was too confidently supposed that the prcsen
Ministry were over willing to be cajoled bY o,
" faithful ally" into a deliberative meeting, 1641°s
deliberations were all marked out beforellan,:i;.
and as they had been sufficiently warned, a.thy
shortcoming or unsuccess would have niet
little consideration.. From this they are spared
in in the best of all ways. Independently of thel
concurrence or assistance the matter has decided
itself. Nothing' is 'to be said about a Congress
either pro or con. ; for there is to be no Congresr:
and, .according to current opinion, things
going on best without one. •

be such plain sailing before Government, and sucb,
It is obvious to remark, therefore, that if there
little opportunity for mismanagement, they are
scarcely entitled to more than ordinary forbear-
ance. This day, however, may be considered the
first that really brings them to their trial. This
will be the real commencement of a series ef.
ih To-morrow
and scrutinies not likely to pass by any past act, stir
present proposition, or any futiire intent I°ll'
Ordinary observers may not find it irapoesiPi
to se;
aheadc.hild
s
knowwhether
dagers
a exuberance of spiritS, occasioned by :the
prospect of a questionable commercial qty
with France, has led them on to fantil'st;to.c.
or unwise measures. If a concession is made
France on the subject of wine and other duties, it
will be a serious question whether this Will 04
be at the expense of a great British interest,
which is now heavily taxed in the shape 131. til:
malt and hops duty ? The CHANCELLOR of_ti'°
EXCHEQUER, too, will have to make up for tilt
fragmentary and temporary character of the 185 f.
Budget, and exhibit to the keen critiets°
which
the whole economical party; the scheme lie
he has had six months to elab;:;rate• 0
will be expected, perhaps, to redeem his °:.11
implied •promise, and meet the' vague
ff
general expectation, that some ,fancied r
to be _arraat..
gement of our Financial system is
think in-
tempted. But the topic which we
volves the most of doubt and SiSpicioll, is that •

FRANCE.

ENGLISH PROPOSALS FOR SETTLING

TUE AFFAIRS OF ITALY.
• NUTS, Feb. 5.
A 'few days ago Lord Cowley communicated to
M. Thouvenel a prOject of the -English Cabinet
for the definiti,ve settlement of the Italian Eines-.
tion. This project contains the folloWing points
1. The :principle of non-intervention to be•applied
in an absolute sense. 2. 'Venetia to remain aside
from all negotiations concerrAing new territorial
arrangements, and to continue under the Austrian
rule. 3. The inhabitants of Central Italy 'to be
again invited to votvon their own constitution.
Should they pronounce themselves kir -annexa.-
tion. with • Sardinia, the latter Power to
be authorised
,to acconiplish their' wishes.
4. Sardinia to abstain from every measure
destined to favour the annexation, till the new
*Tote of the Italian States has taken place. •75.:
France to withdraw her troops from Rome and
lora the other "parts Of Italy. M. Thouvenel,
after having received the orders. of the Emperor,
'dgelared that, before giving a ,definite answer to
the propositions of the English Cibinet, the
French Government thought it indispensable to •
be informed of the views of Austria. The courier
hearing the replya Austria is not expected at
Paris before•the eta of the week.

THE .FAENCH ANNEXATION.

PARIS, Feb.

. The _Con'stitutionne/, in ,an article signed by M.
Grandguilloi, sitywthe report going the 'round of
the journals relative to the ,annexation of Savoy
and Nice to. France, is but the' result of pre-.
sentiment, public opinion, and y a statement
based on the logic of facts. The press has,
been struck by -the attraction felt 'by,. the
Population :of Savoy towards France: and
by the justice of a measure which at the
Moment when Piedmont is to be singularly
aggrandised would -give France a geographical
frontier; but this-!unanimous tendency of the
Pr.ess remains completely, without official impulse,
What Savoy wishes :for--what France desires--
dpes not appear doubtful,; but what the Govern-
ment will and can .do remains hidden under the
veil of diPloniacy. Those who assert that
.the
affair is settled are 23/0 better "informed than those
who say that it will not take place. The:Emperor
is the scrupulous defender of the cfssetitial con-
ditions which insure and guarantee the European
equilibrium, and will certainly not allow it, to be'
altered either to his. own detriment or that of
others. ,m og

YRENCIL FUND&

PARIS, Feb. 4..

•
„12.10 pan.—The market opened very 'firm.
'Rentes at a further
_rise .of per cent., the.quo-
latiOns being 68i. 10c.
3.20 p.m.7-tA reaction has taken place in
tientes, which close at 67f. 80c., or about the same
as yesterday... -

ITALY.

AUSTRIAN PREPARATIONS.

MILAN, Feb. 4.

The Austrians are constructing four new forts-
as6und?eschiera, where a large hospital has been
established. Sixty-four rifled cannon, of large
calibre, have arrived at Mantua, and have been
placed in the fortresses of the quadrilateral.
Heavy rifled bronze cannons have been substituted
for the mg cannon. Great military preparations
are teing.,Thade, and arrests continue everywhere.
General 'Hess has been pensioned.

THE PIEIBIONTESE DIFFICULTY.

TURIN, Feb. 4.

Th'p Opinioze
.refutes. the accusation by the
Patrie 'concerning the conduct of the Sardinian'
GevernmentinSavoy. Sardinia has always shown
great confidence in Savoy and Nice, Which have.
1140 Justified it by their e-emplary, fidelity. The..
Piedmontese Government. has left those,provinces
wwithOut troops, ,thereby allowing the inhabitants
the free manifestation of their feelings. At the
last elections of the commons in Sa my and Nice,
the party favourable to the separation did not ob-
tain the majority. The idea of nationality mush
not be forced upon the people. In case Sardinia
should obtain sufficient compensations and. strata-
getic positions, and the annexation of Savoy with.
Frince should then be called for, it might be
granted ; but it is very difficult for Nice to become
French. Nice protests against it by her acts ; her
interests, are also contrary to it. Therefore these
two distinct qbestions must not be mixed together.
Sardinia is the friendly, loyal, and thankful ally
of France, bUt
,zis long as Austria possesses Venice,
the principle of Italian nationality could not be
developed. Austria will be a permanent threat
against Piedmont, and no pout pr w 9414 rpcitliFc
that Piedmont should weaken herself,