The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-10-31

be made as soon the Regency question Prussia shall
be finally settled. Prussia under the regime oil Baron
Manteuel the principal opponent Of Austria in tho
Hanover conferences entire change in the internal
and external policy OF Prussia expected from the Prince
Of Prussia he himself shall conduct the govern
rlent Thus far he has only acted the Kings agent,
the executor Of the Kings will but he about 70 act
his responsibility, following his convictions,
rad assisted only by men OF his choice. These
the hopes of Austria now and they would be near
their realization were IL that the Protestant party
Of Germany see in the Austrian concordat a bugbear
which threatens them with humiliation. Austria must
find to pacy and quiet the Protestant alarmss OF
Germany; she must not in political sense, discriminate
between Catholics and Professionals, and So In
least atone for act for which but single person
responsible in the whole Austrian empire. Austria has
be frightened by the amount OF reform required to make
that which has already been accomplished available.
The negotiations with the Zollveren will be renewed, and
the responsibility of their present failure traced TO their
If Austria is permanently excluded from the
yerein then ali idea OF German union for the pro-
lection of German nationality, must be abandoned. Aus
ria will then subsis merely European Power, and in
conflict with her neighbors be abandoned TO her own
fate That such is the expectaon-perhaIS, the design
OF of her antagonists can after what has happened
be hardly doubted but remains to be seen whether the
people Of Germany will quietly submit to such suicidal
policy on the part Of their rulers.
The financial difficulties OF Austria not yet recovered
but the last budget shows, nevertheless sensible dmi
mutton oil the annual deficit This deficit averages annu
ally about fifty millions of Austrian forms, about
S25 Ooo-a sum sufficiently large TO cause the most
The Minister Of Finance Baron Bruck Of the abest men
Austria boast Of, has manfully bated against this
canker OF the Austrian monarchy and his genius has
gested many efficient remedies which, up TO this moment
however, have only been partially applied The troops
employed in Gaica and the Danubian Princpaes during
thought proper recently TO make for possible rupture
with France have employed all the Of the
trian treasury and is but recently that with the
newed hope OF prolonged peace, further measures of
economy could be suggested The southern line of rail
roads has been sod entire departments of the govern
men have been suppressed indirect have been
but almost at the time AUSTRIA alarmed at the posi-
ton assumed by Russia in the Mediterranean, has de-
termned to increase her navy and thus the realized
from the late financial measures again employed in
military equipments.
ing corresponding to the position Of Austria the Euro
pean Pentarchy She Is to have six line Of battle ships all
steamers carrying from ninety to hundred and
twenty guns twelve steam frgaes, carrying from thirty
one sixty and corvees carrying from twenty three
to twenty eight guns two sailing frgacs screw steam
corvettes bres schooners besides number
OF conveys and eight gun boats II proposed to meet
the expenditure Of such armament by savings intro
duced into the army and the suppression Of offices grown
obsolete and useless in the civil service Whether the
suit will answer the expectation time alone tell.
On the LIST of November the National Bank OF Austria
Will resume specie payments but this must not be under
stood applying TO all denominations Of notes Only the
five and ten form notes will be redeemed in specie of the
remain suspended This deemed necessary TO prevent
run the bank caused by spectators with view Of
operating in Austrian securities As soon as public con-
hdence among the people shall be partially restored the
bank will redeem It's notes of higher denomination, and
until II shall have entered its former position.
When reflect upon what Austria when the gale Of
lS4S first struck her. when you sec her assacd IN the
south and cast to internal factions and dsengaged
nationates moving IN different opposite directions, her
armies partially beaten and destroyed her finances utterly
ruined her public credit gone, the men who formerly
guided her destiny and whose associated with
her past history forciby elected from Office and the i'm
peria family itself fugves from the capital behold
her now, with her government consolidated, her army and
navy placed respectable footing her credit though
still lingering, partially restored the bank ready to
resume specie payments commerce and industry under
powerful stmulants taking fresh shoot her Pro-
vnccs covered by net OF railways ports opened TO
government cannot but be forced 10 the conclusion
that the equal TO the performance OF such task
cannot be second 10 any row entrusted with the admins
uaon Of European government. Austria has abandon
simple exception Of the concordat has made step
backward Baron Bach, the present intelligent Premier,
Is man OF the revolution OF 1S48-A lawyer, who
led the students corps in the Aua OF the University
and Baron Bruck rose from clerk IN counting OF
Trieste 10 be the creator Of the Austrian system OF
Lloyd, the founder Of the Austrian commerce in the Le
want and To his genius Austria Is indebted for OF tho
internal improvements which help TO devclope her
immense internal resources. In one undertaking only
has he failed thus fart is 10 be hoped for II
rs he who first conceived the project Of direc, steam
communication between Trieste and New York New
Orlcans, touching at Gibraltar and Madeira That the
plan Is feasible doubt. But Austria, in her
new FORM young and requires time for the devclope
mcnt OF her strength Her geographical position Is the
most important one IN Europe long the Oriental
question unsettled and she cannot disappear from the
Pcnarchy without completely changing the relations OF
every State in Europe
Ocean Telcgraphing.
WHAT Is THE HUGHES INsrRuMENT!-rs IT GOOD
FOR ANYTuINg2