The Sun.
London, England, 1870-08-03 00:00:00

THE LATEST NEWS.

The fall of one per cent. in British consols yesterday,
shews how fast the opinion is gaining ground that Eng-
land is doomed to be drawn into the present war. We
have from the first pointed out the apparent impossibility
of Great Britain remaining a mere spectator of a contest
in which the destinies of all Europe are largely involved.
If the war is not ended with the first great battle—that is, if
the non-combatant powers are not able to bring about
peace between France and Prussia, and it is very difficult
to see how in any case they can do so—England will as
certainly be obliged to fling her sword into the scale as she
was compelled to nndertake her long series of wars in the
latter part of last century and the early part of this. The
Government and the people must alike perceive the truth.
Consols were quoted yesterday at 89k, and closed at 891.
In the first year of the Crimean war they never sunk
lower than 85 6-8, and from that time until the end of the
war the lowest point reached was 86 2-8. No mere exter-
nal complications would have had the effect of sending
consols below 90. There can no longer be a doubt that
England feels herself committed to the war, and when
once she is engaged, Europe will soon be on fire from one
end to the other. A special despatch forwarded to us
upon excellent authority states that Austria will certainly
join France. Those who profess to believe in the unanimous
sentiment prevailing among all sections of the German
people will probably be surprised at a turn of affairs which
less sanguine observers have confidently anticipated. If
Austria could so soon forget the treatment she has re-
ceived within the last few years from Prussia, it would be
the strangest transformation of national feeling ever re-
corded. She could not challenge Prussia single handed,
bid she was scarcely likely to resist the temptation of
avenging Sadowa with the aid of France. The circle is
thus momentarily enlarging, and the world is likely to
see one of the most tremendous wars ever known excited
by the blundering policy of a Spanish adventurer. The
story that a large proportion of the French people are ap-
posed to the war is sufficiently answered by the subscrip-
tions now pouring in from all sides towards the expenses
of the contest, and by the fact that 100,000 men have al-
ready enrolled themselves as volunteers in Paris. Many
persons have agreed to give a certain sum each day while
the war lasts, and as another indication of public feeling
it will not be overlooked that there is a demand for M.
'Tiers' resignation on the ground that his recent speech
was " unpatriotic." As the Spectator, no- friend to Napo-
leon, has justly observed, the French people would never
have forgiven their Emperor if he had allowed the intri-
gue between Bismarck and Prim to be accomplished.
The scene'at St. Cloud, at the dinner given by the Em-
peror, is only a fair representation of the true state of
French feeling. Russia still remains neutral, while Den-
mark, it is vaguely stated, is yielding to the influence of
England. She did that once before, and had no cause to
be grateful to her " protector." Belgium and Holland
seem to have assured France of their strict neutrality, but
situated as Belgium is she may yet be the means of in-
creasing strife. The promise of Russia would be of much
greater moment. Before the English people go into the
war at all they will very probably require something
more than Court influence to dictate on which side they
ought to fight. It becomes more and more important for
the United States to decide`what course should be taken
in order to secure for our shipping interest some benefit
from these great events. Before the month is out there
may be a general war in Europe, and there would be an
opportunity for our trade such as never was known or
seen before. At present our merchants are set to run a
race in sacks. The ultra-Protectionists have crippled
them. The situation in which we are now placed is
more striking commentary on the folly of our mercantile
policy than all the arguments in the world. If we only
had ships we could reap a golden harvest. The monopo-
lists have killed our shipping trade, and the people can
only look on and sse a magnificent opportunity slip
through their fingers.—New York Times, July 20.

On Sunday night, in consequence of the water
getting in in the heavy thunderstorm that prevailed. one
of the furnaces, No. 5, at Blaenafon iron Works, Cardiff,
blew up. Several men were injured. Western Mail.