The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-07-27
French Prospects.

alarming IacL lnat the specie IN the Bank OF
France had, by the last return, fallen off nine
millions of dollars. This unprecedented de-
crease, in SO short space of time, can be due to
but two causes. One of these is the foundations,
which no doubt have been the means of throw
ing more specie than usual into the suffering
districts Property destroyed in the shape of
houses, CATTLE produce, furniture, merchandise,
&C., has been, doubtless, partially replaced in
coin by the benevolence Of private individuals or
the munifcence of the government. But this will
only account for small portion of the loss. A
couple of millions at most will cover all the
money that can have been sent to the inundated
districts. The balance, a sum of seven millions,
must have been withdrawn from bank by persons
who have begun to discredit the stability of the
empire-by men who have seen, in the failure of
Place, a symptom of the proximate fall of the
Credit Mobilier, and who, like NJ. Theirs, do not
believe that the Emperor can safely encounter a
peace without more genius than there is any rea-
on to suppose he possesses.
For some weeks letters from Paris have con-
stantly alluded to the formation Of political and
revolutionary societies. The French journals
for obvious reasons, say nothing on the subject
what our correspondents tell us they learn from
the gossip and the whispers of Partisan So
ciety. They say that the new societies have
ramifcations in every department and
every city that the operatives are
quite prepared and ready to strike; that the ar
my, which the Emperor has spent so much money
and labor in endeavoring to secure, is already on
the point of open sympathy with the people.
Even allowing for the exaggeration which natu-
rally affects contraband news these stories reveal
most alarming state of things in France. They
render it not impossible but that we may hear of
new revolution by any mail.
Whether such an event is probable or not, is
question which must be examined on different
grounds. Evidently there never was timewhen
the Emperor was less likely to be willing to re-
linquish any portion of his authority, or more
certain to he careful and anxious about its pre-
servation. Nor is there, after all, any reason to
suppose that he lacks the ability necessary to
grapple with difficult situation. He is neither
fool, like Charles X, nor penny wise poll
tician like Louis Philippe. He has qualities
which neither of these two ever displayed; he has
already achieved work which was far beyond
the powers Of either. Whatever be said of his
heart, there be no doubt that his head and his
hand are strong.
Taking this into consideration, it seems more
likely, perhaps, that he will, for time at least,
fend off the revolution, than that he will succumb
to it. He can only do the former by diverting
public attention from domestic affairs by some
bold, dazzling, unexpected stroke OF foreign
policy
A short while since it looked rather
as though the Emperor meditated turning his at
tention to America, and picking quarrel with
us by way of keeping his soldiers at work. A
little reflection seems to have disposed Of this
plan, and now there is no opportunity offering
for the display of French energy and ''gloire"
save in Italy. But Louis Napoleon can, by ju-
dicous Intervention in Italy, not only divert at
tention from politics at home, but really strength
en- his own position in Europe, render substan-
tial service to the cause of European liberty, and
earn the credit thereof The plan, of course,
would be to adopt the suggestions of Count Ca
your, and interpose to ameliorate, by a system of
gentle coercion, the administration of govern
ment and justice in the kingdom Of the Two ST.
Giles, Rome and the Legations. Any measure of
this kind would naturally involve some risk Of a
collision with Austria. But the l'e.rcn would
be riske1 under remarkably favorable circum-
stances In the first place, Austria would fluid
herself without her natural allies: Russia has not
forgiven her the mission of Prince Esterhazy,
and Prussia is still so jealous of her influence in
the Diet that she would gladly sec her humblcd
Whereas, on the other hand, France would be
certain Of the active sympathy Of England, and
Of the secret-and possibly the explosive-sym-
patty Of the Hungarians, the people Of Vienna,
and the whole united people of Italy. There can
be little doubt how collision would terminate
should any occur. And If the French Emperor
contrived, as he easily could, to make the affair
last for year or two, on the brink Of war; If he
ended by bestowing upon Italy good govern
ment, whether under the name of Murat, OF. in
any other shape, he would be certain to escape
the danger for the present, and might possibly
derive from II increased weight and character for
the future.