The Sun.
London, England, 1859-09-10 00:00:00

THE TREATY OF VILLAFRANCA.

(From the Times).
It is now announced to the world by the
llfoniteur that one of the conditions of the Treaty
of Villafranca—not only a condition, indeed, but
that one which stood in the high position of being
a sine qua non—was the return of the Archdukes.
Large concessions to Venetia were promised by the
Emperor of Austria as the equivalent of this en-
gagement, and the Emperor Napoleon seems to
have accepted both the one and the other in the
spirit of amiable generosity which found its way
from the heights of Solferino, in face of the great
Quadrangle, to the luiet arm-chairs of the parlour
at Villafranca. If the slave who ought to remind
conquerors of their triortality be sometimes absent
from the chariot-wheel, he is never missing from
the Council Chamber. There he speaks of fruitless
victories, of treasure wasted, of life squandered, of
programmes falsified, of promises unkept. The
Emperor Napoleon accepted the condition that the
Archdukei were to ba restored as the price of con-
cessions to Venice, which we must be content to

know were " large," and which possibly extended
to some recognition of public existence and personal
liberty. But it appears that the destinies of Italy
were intrusted, not to the Emperor of France, but
to men who had more at heart little partial successes

than the future of their common fatherland. Those

bad citizens and paltry politicians, by objecting to
the restoration of the Archdukes have obstructed

instead of developing the consequences of the Treaty
of Villafranca. The result of their efforts is boldly

stated to be the perpetuation of the right of Austria
to do as she likes in Venetia, which under happier
auspices might have been placed in the proud posi-
tion which Luxembourg enjoys in regard to the

Kingdom of Holland
But the Archdukes are not to be reinstated by
foreign forces. This • " part of the Treaty of Villa-
franca is not excuted." It was, then, an aiticle
of that Treaty that the Archdukes were to march
into their old capitals at the head of French or
Austrian legions. Let Italy be thankful that she
is saved from this curious conclusion of a crusade
which was to make her free to the Adriatic. Let
her rejoice in the breach of this famous Treaty, of
which we know little as yet, except the breaches,
because it saves her from the Archdukes, though
it hands over Venetia to Austria, which is absolved
from all engagements, either of humanity or conces-
sion, in regard to this helpless province. Fresh from
the fields of Magenta and Solferino, the writer in
the 211oniteur talks of a policy of conciliation and
of peace as the natural consequence of the relations
between Italy and Austria. Distrust and hatred,
we are told, will entail fresh, misfortunes on the
people. But the oracle is obscure, and whether the
misfortunes are those of bad government or of open
war—whether they are restricted to Venice or ex-
tended to. Italy—is left in doubt, which possibly
could not be solved even by the Emperor of the
French. It is, indeed, one of the greatest of the
many misfortunes of those who permit themselves
to be forced by circumstances into a violent career,
and from which they escape as men swim out of a
tide-way, that they cannot regulate their actions
or their promises as long as they are in the cur-
rent, and are apt to make frantic professions to the
bystanders which they are only too ready to retract
in the moment of safety. We find the Emperor of
France covering the men to whom the destinies of
Italy have been instrusted with reproaches, because
they believed him. We find him openly declaring
to Austria that the sine qua nun of the Treaty of
Villafranea shall not be observed at all, but that,
as an offset, she may treat Venice just as he likes.
There is no policeman by—she is freed from en-
gagements. There is no chance even of a Congress
restraining her, or obtaining better conditions for
Italy. Austria, liberated from the pressure of any
obligations to exercise a policy of justice or mode-
ration towards the portion :of her ancient domi-
nions now left in her power, may mangle and la-
cerate as she pleases. To ask the Cabinet of Vienna
to treat Venetia with liberality would be to demand
important concessions, for which France can offer no
equitable compensation. But what would have been
the position of affairs if the programme of Milan
had been accomplished ? What will be the atti-
tude of the Great Powers, even if assembled in
a hopeless Congress, in sight of a conflict between
the troops of the Pope as a temporal Prince,
warring with the arm of flesh against his re-
volted subjects of the Romagna ? And what is
the way which the Emperor of France points out
as that in which the difficulties created by the Ita-
lian war and the peace by which it was concluded
are alone to lie solved? By war—by another war,
which, however, is to be impossible, because France
has accomplished her mission, having made war for
" her idea," which is apparently the complete sub-
jection of Venetia to Austria, and the reversal of
her policy in Central Italy. Certainly, if ever there
were required a proof demonstrative of the wisdom
of the injunction to do no evil that good may come
of it, we may see it in the state of affairs which has,
arisen out of the war of France for an idea, and out,
of the treaty with which that war was brought to
a close. France has indeed made war for her idea,
but when the Moniteur tells us she has accomplished
her mission we must hesitate ere we can believe
that she sacrificed so many millions of money and
expended so much noble blood for the sorry satis-
faction of gaining some barren victories, or for the
brief existence of a lame and impotent treaty.

BANK OF FRANCE.

*-

The Moniteur of Friday morning publishes the
usual monthly debtor and creditor account of the
Bank of France, made up to Thursday. The cor-
responding figures of the last month are added :

DEBTOR.

Sept.

August.

F. C. F. C,
Capita' of the Bank 91,250,000 0 91,250,000 0
Ditto, New
Profits in addition to Capi-
_ - _

tal (Art. 8, Law of June
9, 1857) 1,510,527 65 1,510,527 65
Reserve of the Bank 12,980,750 14 12,980,750 14
New Reserve
Ditto in landed property 4,000,000 0 4,000,000 0
Notes in circulation 700,433,675 0 735,891,725 0
Bank-notes to order- 6,478,032 55 6,135,902 62
Receipts payable at sight 9,104,653 0 9,772,272 0
Treasury account current
creditor
Sundry accounts current 178,708,082 69 181,305,261 34
Ditto with branch banks 30,614,144 0 31,316,584 0
Dividends payable
Discts. sundry interests 1,976,734 42 3,441,766 39
Commission on deposits 4,949,782 18 9,759,288 42
Re-discounted the last six
months
Surplus of paid .up bills
Sundries

1,751,105 5 3,441,766 39

Total 1,355,091,852 44 1,366,098,814 59
CREDITOR.
Sept.

August

F. C. F. c.
Cash in hhaendbiQi; Va 279,482,078365058103 302 23754478:737931 100
Ca'sComhminertcial bills overdue. 622,804 17 3,029,456 6
Commercial bills dis-
ounted, not yet due 201,408,006 58 207,871,906 43
Doc in the branch banks 239,639,429 0 255,649,488 0
Advanced on deposit of
524,200 0 361,500 0
bullion. . .
Do. by the branch banks 537,400 0 520,000 0
Do. on Frenchpublic secu-
rities
Do. by the branch banks 13,116,500 0 13,505,800 0
Do. on railway securities 48,848,600 0 52,994,588 0
Do. by, the branch banks 31,501,450 0 30,053,250 0
Do.on Crklit Foncier Scrip 684,600 0 738,900 0
Do. on branch banks Scrip 397,500 0 412,000 0
Do. to the State on agree-
ment of June 30, 1848- 65,000,000 0 65,000,000 0
Govern. stock reserved 12,980,750 14 12,980,750' 14
Do. disposable
Hotel and furn. of Bank .. 4,000,000 0 4,000
,000 0
Landed property of branch
banks 6,716,012 0 6,670,269 0
Expenses of management 835,065 15 526,140 3
Sundries

Total 1,355,091,852 44 1,366,098,814 59

ANOTHER REFORM CAMFAIGN.—It is stated that
Mr. Cobden and Mr. Bazley M.P. for Manchester, have
arranged with the members of the Liverpool Financial
ReformA.ssociations to establish branch association in other
towns, and to employ lecturers to address the public
throughout the country, so as to prepare the way for an
organised attack upon the present system of taxation.