The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-05-01
BALTIMORE.
SATURDAY, MAY /, 1858.


If we We're to place any crcdence IN the va'iciha
tons of letter writers and newspaper correspon-
dents there would appear to be considerable
probability of an European War, but whether 1t Is
to be inauourated by new French Revolution, by
an Italian Instruction. or by Spanish plot or arise
from one of those international complications which
so often afford convenient pretext for resort to
the ultima ratio reg1m no one appears to know.
All however concur in stating that on the CONT
nent the public mind is possessed with gloomy
forebodings and that an inexplicable feeling of
distrust and insecurity prevails in social circles in
popular assemblies, and in the diplomatic inter
course existing between neighboring States.
The serious dispute now pending between Sar
DINA and Naples the known warlike proclivities
of Victor Emanuel and his hereditary ASPIRATIONS
are regarded by some astute journalists as the
possible prelude to increased activity among the
Carbonari of Austrian Italy; but the more general
impression is that the of future events de-
ponds principally upon the ability of Louis Napo-
leon to break through the net work of conspiracies
by which he is surrounded, and to restore that
confidence in his administrative talents which has
of late become seriously impaired. If he can do
this if he has the power to suppress any nsurrec-
tionary attempt to subvert his authority, the good
fortune to escape the dagger or the bullet of the
assassin and the genius to restore the shattered
financial credit of his Empire, he might possibly
find himself better able to establish his dynasty by
carrying out those great works of internal i'm
provement projected by the elder Napoleon, by de-
veloping the industrial resources of the nation,
and by opening up new fields for commercial
adventure, than by arousing anew the warke
spirit OF the nation, and by appeals to old preju-
dices bringing about a separation from the only
ally upon whom he can entirely depend
In forming an alliance with England GouiS Ma
poleon has accomplished that WHEN his greater
uncle necessarily sought but vas never able to
effect. Alone and uneided, England checked the
latter in his career of conquest, broke down his
combinations, subsidized the chiefs of the German
ic confederation and finally succeeded in arrayng
nearly the whole of Europe against him. Is it
likely them that Louis Napoleon will hazard SINH
lar struggle at the risk of encountering similar
fate? We are disposed to regard him as too saga
cious to voluntarily incur any such danger He
may be driven to it by the force of public opinion,
or to escape from the plots of his enemies and the
horrors of civil war, but he is not likely to do so
of his own free will. His position is unquestona-
bly, a difficult one, and TO avoid the dangers that
surround him he may be forced to adopt line
of policy opposed alike to his inclination and the
promptings of his better Judgment The large
number of arrests recently made throughout
France and the stringent measures adopted TO
quel the slightest symptom of dlsafection, suffi-
GENTLY indicate the fears of the government and
the increased activity of the malcontents
1t is affirmed that the secret society of the
Marianne now numbers not less than seventy
thousand members, and that Louis Napoleon is
more embarrassed by these and similar evidenceslof
dlSatlection, than by the loss of prestige he has
sustained in his attempt to induce foreign powers
to adopt his views with respect to the right of
asylum.
The discussion of the Perrin question in the
French journals has doubtless been permitted as a
sort OF safety valve, and as a means of diverting
public attention from more dangerous topics.
That 1t is playing with double-edged sword and
may finally so eXsperate both nations as to end in
disruption of the entente cord,ale between them we
admt-but ii is scarcely probable that Louis Ma
poleon really desires to be furnished with plea
Tor breaking off an alliance, which, if it cannot
protect HIM from the Vaccinations of secret con-
splrators, certainly strengthens his position as a
sovereign, and exerts sensible influence upon the
measure of respect accorded to him by other Po-
tentates.
Those who incline to the belief that war is i'm
pending between France and England and who
hlnt mySterlously that the appointment of Pessier
was made for the purpose of enabling him to exam
Inc the defenses of the island, forget that such
duty would prove altogether work of supereroga-
ton. England has neither fortified castles nor
walled towns. She relies for protection from inva-
ders upon her channel feet and the patriotism of
her sons. And as the French Emperor has already
personal knowledge of these facts, it is hardly
probable he would have dispatched the Duke Of
Maakof TO form acquaintance with military
works that do not exist
We do not, however wish to be understood as
asserting that there Is no probability whatever
OF war between the two countries On the con-
trary, from the state of popular feeling in France
the spread of sociastic doctrines and the general
pressure exerted upon Louis Napoleon by the in
tigues of his Legitimist and Red Republican enc
mics, he may yet be constrained to accept such an
alternative in the hope that by exalting the glory
OF the French arms, he may unite the nation under
his banner, and thus subdue that spirit of dscon-
tent from which he has now so much to appre-
bend.