The Sun.
London, England, 1855-05-12 00:00:00

AUSTRIA.

VIENNA, May B.—The Austrian financiers affirm
that the Exchange is an unerring political barome-
ter, bnt there is just at present some little reason to
doubt the correctness of the assertion. The ap-
pointment of Count Walewski to be Minister for
Foreign Affairs, and of M. de Persigny to represent
France at the British Court, are considered mea-
sures " favourable to the cause of peace ;" and there-
fore there has been a better feeling on 'Change
this morning than there was yesterday. The dip-
lomatic world, however, which is naturally able
to form a more correct opinion on the subject,
is greatly inclined to think that the retirement
of M. Drouyn de l'Huys from his post is a proof
that the Emperor Napoleon has refused to con-
clude peace on terms which the ex-Minister con-
sidered satisfactory. The positive assurance has
this morning been given me that the British
Plenipotentiaries had fully agreed with their
French colleagues in thinking that peace might be
advantageously concluded on the conditions pro-
posed. It is possible that they calculated on their
being / ejected by the Emperor Alexander, but if so
they were but deceiving themselves, as the "status
quo antebellum" in the Black Sea would be as great
a triumph for Russia as it would be a humilia-
tion for the Western Powers. Is it not likely
that in their anxiety to secure the active support
of Austria, the Representatives of England and
France allowed themselves to be overreached.
Some futher information has reached me relative
to the arrangement made between the Representa-
tives of the Allied Powers before Lord John Rus-
sell and M. Drouyn de Mays quitted Vienna. It
was agreed that if the Governments of England and
France should approve of the conditions here con-
sidered reasonable, and Russia should subsequently
reject them, Austria would on the Ist of June enter
into certain engagements towards the Western
Powers and Turkey. A new treaty of alliance
would hardly have been concluded, but some
article or articles would probably have been added
to the Convention of the 2d December. The
Constitutionnel and various other organs of the
foreign press have stated that a military
convention was signed by M. Drouyn de l'Huys
before be left the city, but it will subsequently
be seen that the only State document, with
the exception of the protocols of the Conference to
which he attached his signature while here, was the
agreement or contract above alluded to. You have
been informed both by telegraphic despatch and I
letter that France has not accepted the Austrian
propositions, but information has since been given
me that no " regular official communication" has
yet been received that such is the case. This, in
all likelihood, means that telegraphic intelligence
has been received on the subject, but no written
despatch. Austria is by no means inclined to break
off the negotiations, but the Western Powers will
be greatly to blame if they waste any more time in
treating with Russia, who will not make any real
concessions until literally necessitated to do so. ft
must again be repeated that the material as-
sistance of Austria is not to be had, unless
the Western Powers agree to terms incompatible
with their dignity, but she certainly at present
has no intention to withdraw her moral support.
As long as no revolutionary elements are brought
into action Austria will leave Russia to get out
of her difficulties as she best can, but if Eng-
land and France should resolve to form separate
corps of refugees and employ them on or near
her frontiers the Holy Alliance would assuredly
again be formed, and that within a very few days.
.Many people sturdily maintain that the Holy Al.liance has never been dissolved, but it is impos-
sible to believe that Russia, Prussia, and Austria
have only been "playing comedy" during the last
two years.

Baron Hess's journey has been postponed sine
die, but some of the battalions of the first army-
corps have already commenced their march to-
wards the north. We read in the Vienna papers
that at Count Baas diplomatic soirée on Sunday
the Russian and Turkish Ministers were present.
It is somewhat strange that no mention is made
either of the Earl of Westmoreland or of M. de
Bourqueney, but it does not follow as a matter of
course that they were not there.

The Wsterr:Correspondence gives the following

semi-official despatch :—" The dismissal of Reschid
Paella was partly owing to the question relating to
the cutting of a canal through the isthmus of Suez,
and partly to the influence he had employed in
procuring the banishment of Mehemet Ali. Fuad
Effendi is appointed Minister of Foreign Affairs.
Reschid Pacha comes to Vienna as plenipotentiary.
Raimil Pacha is not yet appointed. Most of the
rest remain as they were. The cholera at Maslak
is on the increase."