The Sun.
London, England, 1862-08-12 00:00:00

FRANCE.

BOURSE, Aug. 11.—The market has been heavy,
and prices are a shade lower than on Saturday,
Turee9, for the Account, being now at 68fr. The.
The Railway Share Market has not shown mix%
animation, but previous rates have been pretty well
maintained. The market continued heavy to the
close, and left off as follows:

tt per Cents. 9B —1 Bank Shares 3170
Do. end month.... ——l Credit h oncier 1225

3 per Cents
Do. end month 6B 651 Italian Loan 7O
New 3 1r Cents .. —1 Roman

pei
Do. end month.... Austrian
Credit Mobilier.... 835 Spanirl Threes 5l
Do. end month.... 837 50 Home Debt

RAILWAYS,

Cash. Account.
Orleans lOl5 .. 1013 75
Northern

New ditto ** • -- • .
Lyons and Mediterranean 1097 50 .. 1097 50
Geneva 3oo
Southern
Western

Eastern ....
Sardinian .. 365 ..
Austrian
Lon.bard -

Sarnico, and make a merit of it. Both these wil
naturally interpret such half-measures as are re-
sorted to in their own way.
I cannot help thinking there is some liresolution
as to how to deal with the movement, which is as-
suming greater proportions daily, and also ranch
inexperience in the true spirit of constitutional go-
vernment. It must be remembered that when Pied-
mont adopted constitutional forms, in 1848, its sys-
tem of administration was not changed. It
remained the some bureaucratic centralisation as
before. The war in 1859 and the full Towers
granted to the Government several times since
rather strengthened this system. While Govern-
ment was leading the popular movement the dis-
advantages of this centralisation were not much
felt, but now that the popular movement threatens
to overturn the Government the case is different.
As a Parliamentary Government it must respect the
law as to personal liberty, and as the head of the
Administration it has a tendency to interfere,
hence such half-measures as I related just now.

To judge of the effects of tie present movement
in the South of Italy it must be always kept in
mind that Garibaldi, the centre of the whole agita-
tion, is in the South, and that the South owes its
liberation to him. His name is synonymous with
all the good which the Southern Italians have ex-
perienced for the last two years, while he had 110
share in all the inconveniences which they may
have felt from the introduction of a regular govern-
ment since the annexaticn. His name recals a
reign of holiday, while that of the Italian Govern-
ment represents taxes and conscription. Besides
this, his call for Rome revives the grievances
against Turin and what is still secretly called a
Piedmontese Government, a Piedmontese army. It
is useless to reason on the subject and show how it
• is the fault of the Southern men if they have not
yet taken their proper share in the government of
Italy, they feel only the slight that they have sunk
down to a province.
Under these circumstances it cannot surprise you
that the recent proceedings of Garibaldi have pro-
duced a deep impression on the people of Naples
and Sicily. It manifests itself, however, differently
in the two countries; for while in Sicily, where
Garibaldi has begun his agitation, the move-
ment is carried on openly, at Naples it has not yet
broken out into broad daylight. For more than a
week his arrival has been daily expected, and this
expectation has not a little contributed to raise the
agitation. There is one feature which tells more of
the force of this agitation• than anything I could
say, and this is that several thousand men have in-
scribed their names on the list of volunteers. No
doubt there is a difference in such cases between
those who inscribe their names and those who actu-
ally would go if called upon ; but, even making
every allowance, these enlistments are significant if
we remember that in 1860, when the Bourbons were
at the doors of the capital, and all were so compro-
mised that they had to fear the worst, not 101
volunteers could be found to join those who fought
for them. Some of the most active members of the
party of action have chosen Naples as their head-
quariers, and they certainly do everything in tt eir
power to push things to an extreme. On the other
hand, the remains of the reaction and the priests
likewise do their best to throw o:l on the smoulder-
ing cinders. Although even the most superficial
observer can see that there is less misery than ever
has been seen at Naples, fewer beggars, and greater
activity of commerce than before, yet you hear the
people complain. I talked to several fishermen,
and they were all unanimous in assuring me that
since 1860—that is, since they have been under the•
new Government—the fish have left the Bay. In.
vain do they lower their nets—they draw them in
empty. On cross-examination they admitted, how-
ever, that they sold what they caught at three times
the price they got before, and one, evidently the
esprit fort of the party, went so far as to insinuate
that perhaps, after all, the Government had nothing
to do with driving away the fish, as they had caught
several large fish of prey in their nets which may
have been the guilty parties.
With such ignorance and such prejudices, and with.
that hereditary weakness of Neapolitans to cherish
grievances, popular movements spread rapidly. I
never yet knew a Neapolitan who had not some pet
grievance, which he spends his life in impressing on
every one he meets. There are numbers who thought
to have a claim to office and could not be accommo-
well to consider that no one of those contests was
finally abandoned by the losing party until the
moral effect of recognition had first been felt. Every
man of intelligence would say, "If our great effort
has failed with all our numbers and enthusiasm and
credit, what will the chances be with our spirit
jaded, our finances in confusion, our theories ex-
ploded, and the South supported now by the
acknowledgment of Europe P We have done our
utmost, none can term our effort an ignoble one,
and now without discredit we may yield to destiny,
respond to the opinion of Europe, and preserve our
own dominion from ruin."

And, in truth, so far from European recognition
supplying a stimulus to the North, it would ex-
tinguish one that now exists. On the 31st of July
there appeared in your columns two letters vehe-
mently urging efforts to recruit at once. Mt.
Seward writes, "All is well if we instantly show our
strength. I send Diven home for that purpose."
Mr. Diven writes, "We have not the time to
draught. We must end this war soon or fight the
world. We can't fight the world successfully ; you
know we can't." The meaning of these letters is
obviously this—" Make a desperate effort at once.
If we put a bold front on it, and make Europe be-
lieve that our strength is inexhaustible, the Powers
will continue to stand aloof; but unless we do this
instantly they will recognise the Saudi, and all is
over." Here, then, is the stimulus now in action—
the apprehension of a great evil; the struggle to
avert it. But the moment that evil is an irrever-
sible fact, the effort to prevent it ends ; the stimulus
is gone. One who hears that his house is on fire
strains every nerve to reach it, but if he learns that
it is burnt to the ground he hurries no more, but
submits to the loss it is now beyond his power to

escape.
An argument has been used with much force
that the South is now in so advantageous a position
that it may well be left to complete the work. But,
it cannot be denied that this is a war of rapid
changes. At present there is a lull, a period of
inaction, doubt, despondency—a precious oppor-
tunity for Europe, not to interfere in the contest,
but to end it by rendering its object impossible.
When operations are resumed, although it is impro-
bable, yet there is the risk that the tide may turn,
that the North may again obtain delusive successes,
which would speedily render it again elated and
defiant. Should this come to pass the opportunity
will be lost, and lost to no one's gain. Success ob-
tained by the North can only protract the inevit-
able result. It will but lengthen out the pain of an
amputation. There is also a risk in the other di-
rection. The South may be so successful as to de-
mand terms that may drive the North to protracted
resistance. As the matter now stands each has
proved before the world its energy and valour ;
-h has experienced the terrible cost of such a war,
and nei_vier has obtained so decisive an advantage
as to demant. P ressive terms of peace. When
can we hope
for ,another pause with results so
balanced as
to permit conditions humiliating to
neither, and so afford a
osp ect of future tran-
quillit) ?
The practical effect of European recognition would
be to extinguish instantly all confidence in money ed
circles; in other words, to level at once the prop O
which the war rests. It would go round with the
strange, unwelcome face of the tax-gatherer, who
will begin his calls on the Ist of September, end
would supply to every man in his home an argil"
meat against the continuance of such visits. 're'
numbers who are silently deploring this suicidal
strife it would give courage to speak and a Point t__,
rally upon. To those who see the folly of the waf.
but no means of extrication, it would afford a sees
:i
able excuse. To every thoughtful mind it would
be end
be a solemn warning that the time had come t
this iniquitous warfare, and, although some attempt
might be made to rouse a spirit of resistance, that
ow'
attempt would fail. for all would instinctively
kil
it to be the beginning of the end and the harbinger
of peace.—l am, &c.,
Liverpool, Aug. 9.

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