The Sun.
London, England, 1855-01-16 00:00:00

LONDON, TUESDAY, JANUARY 16, 1855.

A strong impression prevails in Vienna that
our diplomatists have again "made a mull of it"
—that, by the vague generality of their proposi-
tions, they have afforded a considerable advantage
to the wily representative of Russia, who has no
hesitation in assenting to propositions through
any one of which he could drive a " coach and
six" at any moment that he thinks proper to open
a fresh scene of confusion and turmoil. No per-
son, whether friendly or opposed to the Muscovite
cause, fancies for a moment that there is the
slightest chance of a satisfactory termination to
these various conferences. Every oue, whatever
may be his political predilections or prejudices, is
satisfied that NICHOLAS is merely laughing in his
sleeve at the Allies, and that the proposed Con-
gress, if carried into practical operation, will be
neither more nor less than a solemn farce, which
can only cease to be ridiculous from the gravity of
the interests involved in the result.
)Ivle,anwhile, in order to add to the complica-
tions, Prussia asserts her right to take part in
the settlement of the great question now at issue,
and demands the admission of a representative on
her behalf to any Conferences that may be held !
This is certainly a very modest proposition. The
Government of FREDERICK WILLIAM has deli-
berately chosen its part. It has preferred a state
of isolation to the retention of the influence which
under more manly and wiser councils it would
unquestionably have possessed ; and it cannot
now justly complain at the consequences of its
own misconduct. It had, in fact, ample warning.
it must have known the inevitable consequences
of its vacillation or deception, or probably a mix-
ture of both. It not merely hung aloof from
France and England, but, whenever it was en-
abled to do so without bringing down vengeance
on its own head, it thwarted their efforts, and
lent powerful, though covert, assistance to Russia.

Why, then, should it be admitted to any Con-
ference ? That it may be enabled to render fur-
ther aid to the AUTOCRAT, by sowing dissensions
among the other parties ! or procuring delays
eery prejudicial to the interests of the Western
Powers. It must have some such motive, and
therefore we should sturdily refuse our assent to
the insidious proposal, which would merely be
providing the enemy with a powerful weapon to
use against ourselves.

The moment Prussia declined to interfere in
the contest on any but " German" grounds ;
the moment she professed her intention of looking
only to German interests in the settlement, co
instante she forfeited her claim to be regarded as
one of the great Powers of Europe. It was her
own Ministers that thus narrowed the foundation
on which her rights were based, and she cannot
complain of the natural consequences of her own
acts. All she demanded, in the first instance,
was to be allowed the observance of a strict and
perfect neutrality, and that neutrality constitutes
an insurmountable obstacle to the attainment of
her present wishes.

But Austria, if her intentions be bona fide, and
that she is really desirous of bringing about a
permanent and honourable peace, has still greater
cause of complaint against Prussia than either
France or England. In every point she has been
opposed by Prussia, and not merely so far as the
War was concerned, but in her attempts to obtain
the friendly co-operation of the minor States of
the Germanic Confederation. Whatever point she
advocated, Prussia adopted the opposite views.
Her avowed objects being not so much to act for or
against Russia, as to limit the influence of Austria
—to prevent its obtaining honour or benefit.
In everything she hasproved an intolerable incubus
to her German Confrere. Even where she entered
into treaties, she showed that her sole object in so
doing was to cripple its action and paralyse its
energies. Fortunate it i■ for Austria--that is to
say, provided that she be really honest in her pro-
fessions—that an opportunity is afforded of shaking
off the modern " Old Man of the Sea;" and it
would be an act of political imbecility if she
suffered him to regain the position from which he
had fortunately been removed.

For every reason, then, and in every quarter,
by England, by France, and more especially by
Austria, the demand put forward by Count
MANTEIIFFEL on behalf of Prussia should be
rejected with the contempt it so eminently
merits—no hand should be extended to rescue
FREDERICK WILLIAM from the slough in which he has
precipitated himself and his country. He chose
his own part, and must abide the natural and
inevitable consequences of his own proceedings.

Already the applications for the New French
Loan of 500,000,000 francs exceed a milliard and
three-quarters of capital, or ono thousand eight
hundred millions of francs. No less than seventy-
two millions of pounds sterling have thus been
freely and voluntarily subscribed for, when our
CHANCELLOR of the EXOREQRBR could not obtain
applications for quite two millions, of which half
a million, or five hundred thousand pounds ster-
ling, was subscribed by a single company that
had largely profited by Mr. GLADSTONE'S " abor-
tive conversion project," and who were, therefore,
in a position to give expression to their sense of
gratitude for what was very profitable to them-
selves, although deeply injurious to the nation.
What renders the fact the more remarkable is,
that each subscriber has given a "material gua-
rantee " for his sincerity by the deposit of ten per
cent. on the amount applied for. The operations
p thatr a c t iccoanbaltei,t
ua
tnedd aa cl laarsgs.
pa rre.
of the Cervine fraternity are thus rendered im-
p oreffectuallytino of mgro. got
GLAD
O!
STONE'S subscribers to the two millions of Exche-
quer Bonds.
The French people have thus nobly responded to
the demand of their EMPEROR. The confidence
with which he appealed to their patriotism and en-
thusiasm has been amply justified. We thought
that the glorious spectacle of last yeir could not
be exceeded. It has, however, been cast into the
shade, but by the very men who wore tben the
actors. Yes ; the EMPEROR and his people may
well be proud of each other. They ara both en-
gaged in a noble cause, and both are displaying
the most unequivocal proof of the chr.valrous on
thusiasm by which they are actuated.
The recent display of French patriotism and
we believe, absolutely unparalleled
in
libethraelit isnonetary history of any nati .on. There
has been no dealing with any salfi.sh capi-
talist --v no prolonged
_haggling as to terms i

—no mutual striving to obtain the best
of the bargain. The Financial Minister of
France offered terms which he conceived to be
just and equitable. He did not seek to obtain
any advantage over the unwary by keeping the
price a secret until offers had been put in. He
did not refuse to accept tenders for less than
25,000 francs (1,0001.), and thereby exclude the
industrious classes, who could only offer their tens
or hundreds, and were unable to bring in thou-
sands or tens of thousands. The success of the
operation was in a great degree ascribable to the
fair and equitable foundation on which it was
based—a matter which our own Financial Mi-
-1 nister should bear in mind when about to'contract
any further national loan. But it was the in-
domitable spirit of the people that rendered it so
completely and triumphantly successful—that
compelled the French Minister to refuse more than
a moiety of the sums freely tendered. The spirit
displayed was rather that of children flinging
their packet-money into the lap of an indulgent
and dearly loved parent than of men of the world,
yielding to doubts and suspicions, or conceiving
that the magnitude of the demand and the exi-
gency of the situation would enable them to ob-
tain better terms and higher interest for the
money. which they had at their disposal.
Honour, then, to France, and to its gallant and
high-minded inhabitants. All honour to those
who have shown their readiness to fling their all
into the common fund, to stand or fall with their
common country. There can be no danger to the
credit of such a nation. The display that has
been made should send up the public, funds
to an elevated position, materially improving the
quotations. It has done so to some extent ; but
the effect must be still greater when the magni-
tude of the operation is thoroughly understood,
and duly appreciated. Thus will the men who so
readily respond to the call of their SOVEREIGN
reap the well-merited reward of their disinterested
and noble conduct, and the extraordinary and
almost miraculous spectacle be afforded of the
national funds of a country materially improving
in consequence of the creation of a large addition
to the debt—an addition amounting to no less
than twenty million of pounds sterling.