Washington sentinel., 1854-06-04
new YORK CORRESPONDENCE.

Wall street is overdone to-day. The news
by the Asia, on being digested last night by
the bulls, bears lame ducks, and dippers, was
considered to be good, financially, very good.
The result was that this morning, everybody
having stocks to sell, especially the heaviest
and the slippery fancies brought them into
market; the market was glutted, and became
tight So you will perceive that good news
as well as bad news may make money tight in
Wall street. With beef ranging from twenty
to twenty-five cents pound in the market, one
would suppose that /" the flush times of Ala
bama" had overspread the whole country, and
that cash must be as plentiful as pavingstones
in New York. By-and-by however, you will
hear different story. Mark that
The European news, without afrording any
thing very decisive or important in the way Of
fighting, is still exceedingly interesting. The
allies are closing up their lines of circumyalla
ton in the Black saa and the Baltic, and there
is such Gordon of fleets and armies concen
trating against Russia from the Gulf of Fin
land to the mountains of Circassia, that there
would seem to be nothing but speedy humili
alton awaiting the czar. Napier has advanced
to the island of Aland; the ice has cleared out
of the bay Of Cronstadt; the way is open to St.
Petersburg, excepting the Russian obstacles of
heavy Notifications, gun boats, ships Of war,
| sunken hulks, and torpedoes, and land force
of Calmucks and Cossacks of perhaps hun
dred thousand men. Of course, further news
from Napier is waited for with intense interest,
for he has yet to come to the tug of war. He
has been crowding the bear into corner and
when Master Charles comes to beard him in his
den, it is quite possible he may get bloody
nose, and the toughest sort of rough handling
But while Napier is closing up his lines in
the Baltic, France is mastering an army on the
Prussian frontiers, and Austria is making for.
midable demonstration of an aggregate ex-
ceeding 100000 men on that side Of her domin-
ions, next to the territories of Russia. This is
considered in England movement on the part
Of Austria, tantamount to taking sides with
England and France against her last preserver
Nicholas. Perhaps she will enlist in the cause
of his enemies. The most faithless and per-
fdious power Of modern or ancient times,
Austria is just in the position to re enact her
oft-repeated black ingratitude against the hand
which has saved her. Faithless and treache-
rous to Napoleon, to her compacts with Hun
gary, to her own people, to the Italians to
every treaty, and every ally which she has ever
made, how can she be expected to render any
other return to the czar for the 100000 men
which he detailed to subdue the otherwise VIC
torious Hungarians in lS48 and IS49, if left
left to choose at her own discretion.
AS far as gratitude and international obliga-
tions are concerned, they will have precious
little weight, at all events, in determining the
,.ltimatum of Austria in this contest. My i'm.
preston is, that her movements against the
Russian frontiers are but ruse de gierre, q
device to frighten the czar into overtures Of
peace. Austria cannot afford to declare war
against him, for instantly Paskiewitsch would
be ordered back again into Hungary, not to
re enslave that brave people, but to liberate
them. And it would only be necessary TO rouse
again the Hungarians to arms against the in
famous house of Hapsburg, to ensure its de-
struction without another blow from Russia !;
for the Hungarians, backed by the Italians
would be more than match for the despotism
of Vienna, as they we're in 1s48. On the other
hand, it would be equally perilous to Austria
to enter into an active alliance with the czar.
The French would again occupy Vienna, over
run all Italy, and if they stopped short of the
restoration Of the independence of Hungary,
it would be to answer the appeal of Russia and
Austria for peace.
In truth, neither Prussia nor Austria is in
condition to join either side in this war.
Germany and Italy are too full Of revolution
ary combustible to -isk the chances Of their
being called to fgh: either against Russia or
the western powers. Neutrality is the policy
of Prussia and Austria, and when they cease
to be neutral, they viii be most likely in the
end to Join the allies; and for this simple rea-
son, Russia, with her extended lines of frontier
operations on the north and in the east, will be
more easily kept off from the invasion Of Ger.
many than France could be. But can it be
supposed that either Frederick, William, or
Francis Joseph, is willing to make his domin-
ions the common battle ground of Europe for
the convenience Of the czar, or his enemies?
Not Prussia and Austria will maintain their
neutrality unit they can see their way through
the peris Of q active agency in the war.
The symptoms Of fermenting revolution in
Italy, the projected occupation of Greece by
the allies, the experimental shot or two at the
outposts of Sebastppol, the movement in the
Black sea Of the Turkish feet with arms and
munitions of war for Circassia, the inactivity
of the Russians along the heightened line Of
the Danube an the setting in of the deadly
fever among IL poor Cossacks occupying the
lower portion o that pestilential river, all look
bad for the cale of Russia, and highly favor
able to the Turks and their allies. But if the
Cossacks cannot survive the malaria of the
lower Danube, what will become of the French
and English troops, if they should attempt to
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