The southern press., 1851-11-06
Correspondence Of tAe NY. Com. Adsstissv :.
LONDON. Oct. 2lat lRki

| Correspondence Of ihe NY Com. AdvHtissr..
+ LONDON, Oct 2lst, 1851.
The critical stop taken by Louis Napoleon ia
the dissolution Of his cabinet, i still ths chief
topic Of attention in Ia aon Thus far, nothing
is known as to the probable successors Of the
discarded ministry. but the failure OF negotia-
tons in one or two quarters has been announced
The real points Of difference between the
President and those with whom he has consulted,
are mere matter Of conjecture It is asserted
that with M. BilIauit, who is one Of the parties
who has been requested to take office, and
who has refused, the obstacle lay in demand
on the part of the President, that the message
about to be submitted to the assembly, should
contain not merely recommendation for the
restoration Of universal suffrage and revision of
the constitution. but also for the abolition of
that paragraph which renders his own re election
illegal. NJ. Billault, it is said, consented to adopt
the first two propositions, but positively refused
to undertake the responsibility Of the latter. 1t
would Immediately, he conceived, bring upon
| the head Of the President motion for impeach-
ment from the party Of Gen. Chsngarnies, which
would at once be supported by all the Demo-
cratic members.
| This, however, is mere rumor, although it
comes from rather direct qusrters. IT is added,
at the same time, that the immediate personal
companions Of the President, and those whose
character and indiscrstion have all along been
of dsservice to him, are in high spirits 1t the
certainty that he will refuse all compromise,
and that a purely Napoleonist ministry will be
formed, in which they may themselves fill high
places. Nevertheless, the impression out of
doors il different, and It is believed that at the
last, the President will see that the combination
against him is too powerful, and that he must
! give way.
| The advices from Vienna this morning an.
nounce an increasing arrangement in the public
finances of Austria Gold has agsin risen or
3 per cent. and the quotation ia now within a
fraction of 80 per cent. premium, or in other
words the government bank notes. which consti
tute the only currency, are, as compared with
| gold, at 80 discount. Probably this further
movement is to be attributed to the state of poll.
tical affairs at Paris-and it may be taken as a
strong indication of the sense which Austrian
capitalists entertain Of the way in which at any
moment revusion in that capital may dispense
all the arrangements which the friends of abso-
utism, backed by their armies and police, have
been deliberately building up since l848 II
/ The state of Italy, as far can be ascertained,
seems every day to become more ominous, bat
| the only accounts that are received Of govern
meat movements consist in occasional Gazette
notices Of the execution of individuals, for being
found With arms in their possession, for having
resisted arrest, or for having distributed some
"anarchicrl" pamphlet of the purport of which
they were perhaps ignorant. et
One Of he most important elements, however,
in any view that may be formed of the political
prospects Of Europe, consists in the serious de-
ficiency of this years harvest in Germany. The
| rye and potato crops are so deficient that wide-
spread distress must be consequence. Wheat
| nd nth hova olo haor 1nn rod
and large inrortations will be necessary from
surrounding countries, which will be rendered
more difficult by the fact that in Sweden and
Norway and the Northern part Of Russia the
crops have likewise been defective. Some IN
ferior sorts of grain have even been exported
/ from this country to Germany to considerable
extent, and purchases are still being made
| The evil perhaps is not sufficiently great to
threaten any Of those manifestations of popular
discomfort which seize political grievances a.
their pretext, but as one bad harvest is frequent
| ly followed by succession of such, there Is
enough to cause vigilance and apprehension
Without some visitation of this sort, people in
this country will have little faith in the power Of
the German people to resist the armies Of their
rulers; but il such an impetus should arise, the
results would possibly be more frQhful than
have ever yet been seen in any revolution.
| We are still without any announcement 40 to
the arrival of Kossuth. Meanwhile his oppon-
ents and pariisans are carrying on fierce war,
in which success whoud be all on the side Of
the latter, bnt for the interruptions ipdscretion
and want Of tact which too often distinguishes
the liberal organs in this country ~ elsewhere.
The condition Of general business continues
sound. and the money market has greatly i'm
proved, the distrust caused by the recent specu-
lstive failures in London, Liverpool, and Glas-
gov, having almost entirely subsided. The best
paper can now be discounted at at per cent, aud
for money at call the highest rate 10 per cent.
Gold continues to come in from the continent
The funds have shown very buoyant ten
dency, which has been checked only BY an ar-
rival from the Cape of Good Hope, bringing
news of the continued resistance of the Csfffps.
and Of the extension Of their successful forays.
According to previous dispatches, their subiu.
gatien was to have been decidedly accomplished
| within very short period, but the cry now is
that at least 10000 additional troops from Eng
land will be necessary. M
An intense feeling Of dissatisfaction IL the
consequence, and Earl Gray, our coloninl min
ister, if Parliament was sitting, would find him
self in difficult position
Cotton is dull with tendency to farther
decline. The grain market remains without al
teraton.
The next packet from this side will be tho
Africa, on the 25th. SPECTATOR.