The Washington union. [volume] (City of Washington [D.C.]) 1857-1859, 1858-11-04
THE POLITICAL STATE OF EUROPE.
Especial Correspondence Of tho Union.l

VIENNA, Oct. Is, 1858.
The resumption Of specie. payments by the Ma
tional Bank of Austria viii momcntarily lead to
financial embarrassments; but there is every reason
TO believe that it will be successful. The resump
ton is for the present confined TO the smaller de-
nomination of notes, bills of five and ten horins,)
80 as to prevent run by foreign holders who may
feel disposed to bear the State securities of Austria
on the London, Paris, Amsterdam, and Frankfort
stock exchanges Considering what Austria has gone
through with since the year lS4S, when everybody
believed the treasury bankrupt and the monarchy
itself the point Of dissolution her progress since
that period is really the wonder of Europe But
Austria has still enemies within and without. and
rivalries even in Germany to contend with. While
she undoubtedly commands very large resources
which have not until recently, been developed, she
also has increased wants, and provinces which have
been in considerable degree stripped Of their
wealth Civil wars always tile most disas,
trous and the most quick in drying up national
resources The immense fertile plains of Hum
gary yield as heretofore, rich crops; but the
capital necessary for their successful cultivation
has been much diminished and the popua-
ton thinned by the late war. Taxation, in spite of
these drawbacks, has almost doubled, and under
such circumstances return to the former prosper
iy is not easily accomplished. Yet, notwithstanding
these unavoidable consequences OF the series OF ca
la,nes which threatened her national and financial
ruin. Austria is now entering upon q new period of
prosperity and power. Her railroads. when COM
pleted will give additional value to her lands and
the productions of her soil the abolition of the lines
of custom-houses which separated one of her prov
inces from the others increases her internal and
ternal commerce, and her cndeavor to increase her
navy and to occupy q domneerinS position in the
Adriatc, will undoubtedly serve to protect her navi.
CATION interests. But the position OF Austria III
Italy imposes heavy duties and responsibilities
her, and may like her proximity to the Danuban
prncipalites and the Montenegrins, involve her at
any time in general war. Germany is not directly
interested in these matters though indirectly, the
German States would suffer severely, and perhaps
hopelessly, from any serious misfortune that might
bef,ll Austria.
1t is impossible now to say which Of the two ques-
tons is most threatening to Austria the question of
the Danubian prncipatles and of Turkey, that of
Italy One is certain to involve her with Russia, the
other is certain involve her with France. But Aus
tra is at this moment little prepared to measure
strength with either Of these powers though she is in
measure, obliged to prepare for either eventually
She is now in tho midst of her financial troubles,
obliged to raise Notifications in the Adriatic the
frontiers Of Montenegro, and even in the Duchy of
Austria proper and to keep her army on such foot
ing that she can within fortnights warning raise
an army of five hundred thousand mcn Besides this
Austria is raising navy, and Obliged to diminish
rather than increase the duties imports, to
assimate her commercial system to that of the States
of the Zoiiperein. petition OF the manufacturers,
to have the duties imports increased, has just
been replied to negatively by Baron Bruck; but the
have appealed from the decision of
and this, together with the embarrassmonts of the
bank which finds it difficult to procure silver while
the banks Of Prussia and Frankfort the-Main are
raising their rates of discount, may lead to compca
tions not at all desirable, and involve minis
teral change Such change would be disastrous
at this period, and much diminish the confidence in
the stability of her institutions Austria cannot
stand still now. She must either proceed on the
road of progress return to her former system of
and exclusion which led to the catastro
pho of IS4S. have doubt in the world but that
she will pursue the line Of progress
The murder of Mr.. Nahon, the French vice consul |
at Tetuan, III Morocco ouly two miles from the
Mediterranean sea- and that Of the Spanish vice con-
sui coming so soon after the murder of the French
and English consuls at Jeddah, the troubles in Bos-
MIA and Servia, the agitation in Montenegro, pro-
duced by Prince Danilo, in spite of his late pacific
proclamation, all convince Austria that she cannot
hope for a long period of uninterrupted peace, and
that she must in time look for allies and friends to
assist her in her impending troubles. Turkey has
reduced her staff officers, and her army has FOR sew
cral months received pay She viii in very
short time be entirely dependent ON her allies and,
az the Austrian papers express it. not keep together
even to oblige her neghbors. Che cannot even now