The Sun.
London, England, 1859-03-24 00:00:00

FRANCE.

PARIS, WEDNESDAY.
The official note in the Moniteur announcing the
proposal of Russia to convoke a congress for the
discussion of the Italian question is commented on
by several of the Paris papers ; the Presse observes:
—" The initiative taken by Russia proves not
alone the great value she attaches to the preserva-
tion of peace, but also that she does not consider
herself so perfectly foreign to the responsibilities
of war as had been supposed. In proposing this
congress she has performed a deed which will be
appreciated by civilisation and policy. The French
Government offers a startling proof of its sincere
desire to maintain peace. This is a sound, skil-
ful, and frank policy. Austria cannot refuse to
accept the congress. By refusing, she would prove
to Europe that she fears her justice, and she
would then probably forfeit all chances of assist-
ance in the event of war. England beholds her best
hopes realised. Why did she despatch her first
diplomatist to Vienna ? It was in order to draw
the Italian question on to the field of diplomacy.
The Emperor of Russia has obtained for -Lord
Cowley and for England the object of their search.
We may offer one simple observation—the majority
in the congress will belong, not, to the contending
powers, but to the conciliatory. parties, that is, to
England, Russia, and Prussia. Such being• the
position, it is not too rash to' await a satisfactory
solution of the question at issue."

The Patrie considers that the meeting of a con-
gress would represent a great success for French
policy :—"Russia acknowledges, then, with France,
that the state of Italy is abnormal. The same idea
doubtido prevails in London and Berlin. The
EmperitZ of the French offers a fresh proof of his
moderation by the readiness of his adhesion to the
initiative taken by the Emperor of Russia. He
thereby evinces his sincere desire for the preserva-
tion of peace, and thereby acts in harmony with
all the precedents as with all the principles of his
policy. We cannot presume that the Vienna
Cabinet will reject the idea of a conference. Cer-
tainly, it would not venture to accept so grave
a responsibility. The meeting of a congress may
therefore be considered as almost certain. This
first result is a great success for the policy of
France, and is at the same time a valuable gua.
rantee for an honourable peace."

The Union contains the following :—The Moni-
teur has spoken, • and hope has returned to the
hearts of our unemployed diplomatists. All hail !
then, to the Sultan of the French press ; the
political world and the commercial world are
indebted to it for at least one pleasant day. Not
that the note has escaped all sorts of comments.
Some would have liked it to have been more explicit ;
others consider it too reserved with regard to Prus-
sia and Great Britain. Why—it is asked—does
such silence surround the name of Lord Cowley ?
Why pay to the Cabinet of St. Petersburg the
exclusive honour of the transaction, when every.
body believed, on the contrary, that the merit was
to be attributed to the British ambassador ? Why ?
. . . But people are too inquisitive. The es-
sential point is to know whether peace is to be
ensured, or whether the negotiations will merely
represent a lull between two storms."

The Siecle, with its usual power of reasoning,
argues that warlike preparations must be pushed
with fresh vigour, now that a congress is to be con-
voked :—" We entertain the firm hope that a per-
spective of negotiations will neither check the vigi-
lance nor efforts of France. We must prepare our-
selves more than ever for war since it can issue,
quite as as peace, from the deliberations of a
congress. We are on the eve of one of those selemu
days which only appear at distant intervals in the
existence of nations.. On our firmness, on our atti-
tude depend the future of Europe."
BOURSE, March 23. Heavy sales were effected
at the opening of the market, and prices declined,
but a sudden rally afterwards took place on a
report that the adhesions of the Cabinets of London,
Vienna, and Berlin had arrived. Threes,' after
having been done at 68fr. 50c., improved to 68fr.
80c. Mobilier varied from 787 50 to 795 fr.; Austrian,
542 fr. 50c. to 547 fr. 50c. ; Lombardo-Venetian,
522 fr. 50c. ; Orleans, 1,355 fr. to 1,360 fr. ; Northern,
935 fr. to 937 fr. 50e. ; Southern, 515 fr. to 517 fr.
50c. ; Lyons, 842 fr. 50e. to 845 fr. The following
are the last quotations :

41 per Cents. 96 Cr&lit Foncier....
Do. end month. 95 I Belgian 4f . —
3 per Cents 6B 80 Piedmontese (5) .. 79
Do. end month 6B 70 i Roman B5
Bank Shares...... 2860 Austrian
Cr6dit Mobilier .. 795 Spanish Threes
Do. Account ..... 796 25 Home Debt —