The Sun.
London, England, 1867-05-11 00:00:00

LONDON, SATURDAY, MAY 11, 18G7

The anniver:ary of the tnemorable " Black Fri-
day" which ushered in a twelvemonth of almost
unparalleled depression and UIIC:ISIIIC.S.3 has happily
come reund under more favourable auspices. Many
cau.-.es tended to keep up the effects of the panic
which have been severely felt in almost every class
of society. The extremely unsettled condition of
foreign affairs produced effects nearly as mischievous
as those of actual war, and we have to thank the
greed. and aggressive ambition of Prussia for
a considerable share of the loss and annoy-
ance occasioned by a depressed state of the
money market. At home our domestic affairs
have not been altogether satisfactory. Lord
DERBY'S Government was not sufficiently strong
to semre a majority in the Commons, and there-
fore no security could be felt that we should not

have a Ministerial crisis, possibly a dissolution.
Reform, which has been hanging over the loads of
so many Cabinets, imperatively demanded a settle-
ment, which all felt could not be longer withheld ;
and between the dislike in some quarters to any
change, the excessive demands of agitators
and the uncertaintly caused by long delay and
repeated failures, the question of Parliamentary
Reform was a serious addition to the perplexities
of the day. Besides these more immediate and
pressing causes of depression and anxiety the very
elements seemed to conspire in an unfavourable
coalition. A dull and wet summer produced a
bad harvest, and the consequent high price of
bread has, as usual, made itself felt in every direc-
tion. Following the dreary summer came a winter
which of late years has hardly been equalled for
length and severity, and the condition of the
labouring classes has afforded painful indication of
the lack of vitality in business circles. The visita-
tion of the cholera was an additional trial to the
eastern districts of London, and the heavy winter
pressed heavily on those who had scarcely recovered
either physcially or financially frdm the long weeks
of sickness and enforced idleness in the autumn. It
was only wonderful that under such a conjunction
of circumstances the Revenue retained its buoyancy,
but happily we were spared the evils of a
deficit. Now, however, all is changed, and
we may hope that the anniversary of " Black
Friday" may inaugurate a period of general
confidence and prosperity. The clouds of war have
for the time being passed over. The firm and yet
conciliatory policy of Lord STANLEY has greatly
assisted in the settlement of that Luxemburg ques-
tion which a week or two since threatened to pro-
duce a European conflagration. The affair of the
Victoria occurred in good time to show that the
English Foreign Minister was no longer committed
to a policy of " meddling-and-muddling " interfer-
ance and inaction ; but that while avoiding

officious advice or empty menaces, the repre-
sentative of English honour and interests was pre-
pared to support the character and position
of his country. The ample preparations made by
France for the eventualities of war, the withdrawal
of the French troops from Mexico, and the grow-
ing indignation of the French people, have no doubt
had their effect in moderating the temper of Prussia,
and in teaching BISMARCK that he had better be
cautious how he proceeds. The effect of Lord
STANLEY'S announcement the other evening made
itself immediately felt in the money market, and all
advices from the Continent repeat the favourable in-
telligence. A general feeling of relief and renewed
confidence is experienced throughout Europe, and
we must hope that these Kings and Emperors
will for a while cease from playing at the costly
game of war and aggression.
At home the Reform question, despite the dia-
tribes of Messrs. BRIGHT and GLADSTONE, and the
thunders of the Adelphi, may be considered as
virtually settled. The country at large has ac-
cepted the Government measure, and though the
House of Commons has still a good deal of
work before it in the task of perfecting
and completing the bill, there is very little
doubt but that the session of 1867 will see Parlia-
mentary Reform no longer a vision, but a reality.
The Government, in spite of various misadventures
and mistakes, have indisputably gained strength
during the session. They have administered the
affairs of the country on the whole with credit, and
there is now little fear of their being forced to
I appeal to the country against an adverse
decision of the House of Commons. Added
to these causes more directly under the
influence of human caprice or passion,
nature herself seems to have recovered from her
churlish mood. The May sunshine is streaming
down upon us with all the fervency of July, and
the prospect of a goof harvest is cheering and en-
couraging to all. It becomes us to make the most
of the favourable opportunities likely to be affoided
to us, and not in a season of prosperity and plenty
to neglect the lessons we have learned and the
reforms we have determined to carry out in a time
of gloom and depression.

This Conference on Luxemburg seems to have
beeen the best conducted one that has taken place
for some time, and certainly its issue is a most
satisfactory one. The Patrie of yesterday says that
Count BERNSTORFF has given the members of the
Conference to understand that the " evacuation"
of Luxemburg can be effected in three or four weeks.
We suppose this is to be looked upon in the light of
an act of grace ; but it seems very strange that a
shorter period cannot suffice for the translation. At
any rate, no one throws any doubt on the subject,
and there seems no reason to believe that any
hindrance will arise to mar the settlement of affairs
after a peaceful fashion. From Berlin we learn,
through Zeidler's correspondence, that it is fully ex-
pected the end of the week will witness the signature
of the Treaty by the Plenipotentiaries at the Confer-
ence, and the result will be satisfactory. However,
the dark side is the fact that France persists in "arma-
ments," but this, the same authority expects, will
disappear. 'We rather doubt this last assertion, be-
cause the Emperor knows very well that, in point
of numbers, he is not yet a match for Prussia, and
that army has not been much reduced of late. This
limit has nothing whatever to do with the Confer-
ence, because Luxemburg is the beginning and the
end of that affair. Yesterday the
.third sitting of
the Conference took place, at which the details of
the Treaty were agreed to and initiated, and all
was apparently arranged, with the exception of the
time at which Luxemburg should be evacuated, the
Prussian Minister having to ask instructions from Ber-
lin for the purpose. To-day, at five o'clock, another
sitting will take place, at which it is hoped that the
Treaty will be signed. If so, it will be a great
point gained, and Lord STANLEY may well be con-
gratulated upon the success of his efforts. We
have all along been of opinion that with more firm-
ness a better effect would be produced on Prussian
policy, and surely the experience of the last few
weeks confirms the truth of the notion. Had there
been any repetition of the uncertain and shifting
action of Lord RUSSELL'S days pursued at the Foreign
Office, the evacuation of Luxemburg would
never have come to pass. One demand would have
followed another on the part of the Berlin autho-
rities, and in the end war would have ensued. That
this very undesirable termination of tic dispute
s!ioul I have been avoided is indeed most satisfac-
tory on all accounts, and we hope that it will n.)t be
forgotten that the desideratum has not been accom-

plished . by timorous and hesitating meaml,- but
through the adoption of decisive language, and a
cautious but most inflexible demeanour on the part

of the arbitrators.

The Marquis of CLANRICARDE displayed more
zeal than discretion in the manner in which he made

his inquiries respecting the evidence taken at the
time of the trial of the Fenian conspirators. The
Earl of DERBY, in- replying, remarked very truly
that some of the noble marquis's observations had
extended over a wide range, and that he might very
properly have left out the references which he had
made to the resolutions which the Reform League
had thought fit to pais at a recent meeting.
With respect to the mgird huniediat . object of the

noble marquis's inquiry, the Premier said that the
Attorney-General for Ireland had taken steps to
secure a report of the evidence. As for laying
before Parliament a copy of these reports, the noble
earl declined to do so, alleging, with great justice,
that Parliament was not a court of appeal from
ordinary tribunals. As for the desire expressed by
the Marquis of CLANRICARDE for informa-
tion respecting the encouragement of Fenians
in other countries, he also objected to that
on the ground of public inconvenience.
As the noble earl said, it would be
of no advantage to Ireland at the present moment,
nor, indeed, at any time, that such a thing should
be done. "Any course more likely to embroil this
country with foreign Powers, and to raise embar-
rassing discussions," could not well be imagined ;
and it is not surprising that the request should have
been refused. 'We wonder, indeed, that the sug-
gestion should have been made at all, for it is a
most extraordinary one, taken under every aspect of
the case, and one which no Government could pos-
sibly have acceded to.