The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-04-18

TIE Hsws BY the Dal0c-Pe .ce In nurSpe.
At last, there is peace. The treaty Of peace
reign Affairs at Paris, on Sunday the 30th Of
March, and salvos Of artillery at London and
Paris celebrated the joyful event, Unlike or
binary treaties of peace, this one takes effect
from its signature; its ratification is assumed
as matter Of course. The telegraph has in
fact superseded the necessity Of delays for con-
sultatiOn with home governments
But the conditions Of peace are to be kept
secret until the treaty has been ratified. In
consequence, rumor is rife on the nature of the
bargain that has been made at the Conference.
Lord Palmerston has stated that the peace is
such as will satisfy England and accomplish
DE object of the war. The French Emperor
nSs that the moderation and conciliatory
brit of EB gland have brought about peace
nich has all the elements Of durability aud
e0lidity. Both strenuously deny that Russia
has been huniliated or degraded. Newspaper
correspondents seem to think that Russia has
even won diplomatic victory; the corresoon-
dent Of the Losdon Post believes that Russia
has gained more than she has renOunced by
the bargain.
Speculations are Of very little value until
the real terms Of the peace are made known.
As the facts staud, Russia has gained territory
in Asia, and the Allies have gained territory
in the Crimes; Russia has lost her feet,
her arsenals, her seaport at Sebastopol, and
- ~ I'll %
equivalent injuries suffered by the Allies can
be set. Where the hostile forces have met in
the field, at the Alma, At Inkernann, at Bala-
klava, at the Tchernsya, at Sebastopol, the
Russians have given way. Nor is there any
reason to suppose that Russia could, in the
event OF the continuation Of the war; carry il
on at less cost of men aud money, or with less
internal suffering, than would be imposed on
the weakest of her antagonists. It might
perhaps, therefore, be assumed that while the
Allies carefully abstained from humiliating
the pride of Russia, they still made her feel,
in concluding the treaty, that the events Of
the past two years had altered their relative
positions, and that she had no right to com
plain if the ue uictus were at least whispered
in her ear. On the other hand, it is said that
the necessities OF France are becoming urgent;
her finances are in disorder; her army is vast
ing away; her people require peace; and so,
perhaps, the antagonists may stand on an
equal footing, and Russia may possibly have
not only come out of the war on equal terms,
but even, thanks to the precipitation Of the
French and the skill of her diplomatists, with
advantage
We shall know the truth of this matter in
the course Of the next fortnight. Meanwhile,
we have every reason to join the people Of
England and France in felicitating the world
on the cessation of war which injured trade,
retarded human progress aud disgraced the age.
THE WAR IN NIcARAGuA.-Now that peace
has been restored in Europe the only point of
interest for people who have taste for blood
is Central America, where the war between
Nicaragua and Costa RIGA has begun in good
earnest The most intense interest has been
excited here ny the report received by the
George Law that detachment of Nicaraguan
troops bad been defeated. The friends of
General Walker have been much cast do vn,
but the affair at the worst amounts to very
little, and it must be remembered that there
is no authentic report that any battle has
taken place at all. The Nicaragua authori-
ties had received no official dispatches, and
nothing definite was known at Granada, Per-
IONS in this city opposed to Walker have cir
culated the most absurd reports. Our advice
to our readers is to suspend their opinions un-
til the return of the Orizaba.
In the meantime we present elsewhere do
cument for the digestion Of Mr.. Marcy aud
ton of the official decree ordering an election
by the people of President and Legislat ure
of the republic Of Nicaragua, according to
the provisions Of the liberal democratic consti-
tuition Of 1888, which was re-enacted in the
treaty of peace between Walker and the Gene
raj commanding the aristocratic forces In
six weeks from this time, this government,
springing directly from the popular WILL will
be in the full exercise of its functions. This
will knock away Mr.. Marcy's last plank. The
government Of the United States can then no
lenger refuse to recognise the government Of
Nicaragua, and then the star Of the last named
State will rise. The war with Costa RIGA will
summon thousands of North American young
men to Walkers standard, which will be borne
triumphantly over all Central America.
The LATE CELEBRATION AT THE SLAsHEs-
GREAT EXCITEMENT IN WALL SrREEr.-Our We
nerable cotemporary of the Courier and Esqui-
rer has worked himself into state Of violent
excitement over the late democratic offerings
at Henry Clay's birthplace to the memory OF
that great man. Says our venerable ally OF
Seward and Sewardism:-
These democrats, win hands ye. reefing with the
aking of Of the Missouri compromise, pouring out IL
bAtions TO the honor al Henry Clay These democrats
with lips yet hot and quveiny with voleys OF sectional
wrath, working oil neilihuous csdenees in eulogy of
Henry Clay 1t is bold to say the least Of it-bold IN