The Sun.
London, England, 1853-12-08 00:00:00

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It is stated in Paris as most probable that,
without attempting to dictate terms to the Porte,
the Turkish Government will be called upon to
name the terms on which it is prepared to enter
upon a negotiation for peace ; and the more tem-
perate those terms are the more surely can the
Sultan rely on the combined support of Europe.
If the Turks are wise, and if the partial successes
they have already obtained have not inflamed their
imaginations to excess, they will take advantage
of a moment so propitious to themselves, and en-
deavour to restore peace under that concert of the
European States which is their best guarantee and
protection. It is an event of no common import-
ance which has thus brought together France,
Great Britain, Austria, and Prussia in direct and
determined opposition to the pretensions of Russia
on the East, and has led them to renew their joint
resolution to uphold the existing territorial rights
of Turkey. For this declaration and the measures
connected with it are a distinct corroboration by all
the Powers of Lord Clarendon's statement that the
evacuation of the Danubian principalities is the
sine qua non of every arrangement ; and we may
now assume that Prussia and Austria concur with
the Western Powers in their determination that
these provinces shall not be filched from Turkey
and annexed to the Russian empire. If this re-
sult has actually been attained, as we trust it has,
since it is impossible that conditions proposed by
England and France could embrace' anything short
of the retreat of Russia from the principalities, the
delay which has occurred has not been in vain, and,
whatever be the turn of events in the East, as long
as the German Powers are acting in conjunction
with us we are relieved from the possibility of more
extended hostilities. Russia has received a for-
midable and unexpected diplomatic check, when
she finds that even the neutrality of her former
allies is converted into positive opposition, and
that terms of peace, to which she may not submit
without some repugnance, are equally prescribed by
Vienna and Berlin as by Paris and London. The
Emperor Nicholas evidently reckoned, at the com-
mence of this transaction, on the want of cordiality'
between France and England, and on the subser-
viency of Austria and Prussia to Russian influ-
ence. . He is equally mistaken on both points ; for
not only have France and England united their
Embassies and their fleets, but they have ended
by rallying Austria and Prussia to that conserva-
tive cause of peace and order which Russia has
so strangely forsaken and assailed. Supposing
this union of the Four Powers to be maintained,
which it will be as long as each and all of them
adhere to those common duties and public in-
terests on which it is based, the scene of war
is confined to the remotest extremity of Europe,
and the division of power is too unequal for
such a contest to be indefinitely prolonged. If,
on the contrary, Austria had been drawn or driven
into abetting the policy of Russia, either by a com-
bined aggression on the Turkish territory or by
an attempt to oppose the maritime demonstration
of England and France, it is evident that war
must have become general, and would have
spread at once from the Black Sea and the Danube
to Lombardy and the Rhine. The revolutionary
class of politicians who have been endeavouring
throughout this controversy to identify Austria
with Russia, and to terrify the Court of Vienna by
threatened insurrections in Italy and Hungary have
all this time been serving Russian interest; they have
done all they could to give Russia an ally, and to throw
the not inconsiderable weight of the Austrian army
into the scale of that very Power whose encroach-
ments we are all labouring to repress. Should
these differences become still more serious, the un-
scrupulous policy of Russia will probably use these
very men to excite disaffection and apprehension
in the ranks of her antagonists. But, in spite of
the virulent declamation of the extreme Russian
party in Germany, and the extreme democratic
party in London, Prussia and Austria have shown
that they can place their independent principles
of policy above the ties of their Northern alliance,
and that on a question involving the peace of
Europe they are resolved to remain faithful to their
public duties rather than to their personal
obligations.
The Bourse was extremely animated yesterday,
and a considerable rise took place in the price of
public securities. The Three per Cents. opened
at 74f. 55c., rose to 74f. 90c., and closed at 74f.
65c. ex dividend for the end of the month. The
Four-and-a-Half per Cents. closed at 101 f. 50c. ;
Orleans Railway Shares, 1,187 f. 50c. ; Rouen,
1,082 f. 50c ; Havre, 507 f. 50c. ; Great Northern,
880 f. ; Paris and Strasburg, 825 f. ; Paris and
Lyons, 920 f ; Lyons to the Mediterranean, 775 f. ;
Western' of France, 702 f. 50c. ; Bordeaux and
Cette, 617 f. 50c. ; Great Central, 520 f. ; Lyons and
Geneva, 525 f. ; Shares of the Bank of Credit
Alobilier, 700 f.

SPAIN.
Our accounts from Madrid are of the 2d inst.
The Senate commenced on that day the discus-
sion on the railway bill. The Duke de Rivas, M.
Ros de Olano, and the Marquis de Someruelos
announced their intention of speaking against it,
and M. Antonio Gonzales, Count de Velle, and the
Marquis de Caceres in its favour. The latter w&
left addressing the house.
The committee of the Chamber of Deputies on
the budget had nominated M. Llorente its
President.

The receipts of the Treasury in October last
amounted to 81,100,000 reals, or 1,683,000 less
than during the corresponding month of 1852.
The Three per Cents. were done at 42/ ; the
New Three per Cents. at 22i ; the debt of the first
class, at ; and that of the second, at 4i.