The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-06-26

LOUIS NAPOLEON has lately conceived magnif-
cent idea. He has at length awakened to the
consciousness, that like his great Uncle, he has
mission 1t is to dig Canals and preserve the
Balance of Power in both Hemisphere. In a re-
cent article the French journal, La PreSse assures
its readers that France, that would not permit the
Dardanelles to become Russian, will never suffer
Egypt to become English, or Nicaragua to become
dependency of the UNITED STATES 1t is true that
La Presse is owned by NJ MILLAUD, and that it is
NJ. MILLAUD whoproposes to hmselfthe construction
OF the gigantic Ship-Canal, for which en- BELLY has
Just obtained grant from the States of Costa RIGA
and Nicaragua and invoked the august protection
of the high and mighty Prince, VICTOR EMMANUEL,
King of Sardinia. While however La Presse is
blowing its trumpet for the Canal Napoleon de
Nicaragua, other Partisan journals are as assidu-
ously engaged in blowing another magnificent
bubble, the great Suez Canal; and French agents
ana diplomacy are now actively at work in pro-
iiio'ihS elther PROJECT Both are part of the same
general line of policy. The one scheme is DESIGNED
10 put stop to the advance of British power in
The East, and the other, to be a check upon Ameri
can aggresSions in the West The idea of n Shin
Canal, which should join the waters of the Mediter-
ranean and the Red Sea- was f;tyorite scbon,o with
the elder NAPOLEON. The project of a Nicaraonop
Ship-Canal Is equally hobby with the present
Emperor. The French people have not FORGOTTEN
the oothold which they once had in the land of
the pagoda-tree, and that Pondicherry was once
the capital of growing empire. The conquest of
Egypt was undertaken by the First Consul for tbe
express purpose of winning back that lost Empire,
anu the Suez Canal was projected by him as
necessary step towards its recovery and retention
WIN q safe and speedy outlet to the East Indies
through the Mediterranean. the Red Sea. and the
straits OF ia" el Mnde6, he rightly indeed that a
French Army could be transported IN tho oboreS Of
iindustan, long before English spccors conId
ind their way thther around tbo Cono of
Good Hope. The scheme at tbo+ e. e,;,o.
but the tradition remains. Undor A..
plces OF NAPOLEON III, the project of cL;r
Canal at Suez has been revived Fool
veys have been made with view Of detor,,;a;.
its practicability. Engineers have furnished 49,:
mates of its probable cost, and Compopr b.
been formed to carry on the work. French in
trigue is now busy with the SULTAN, seekinp 70
obtain grant for the Company similar to that
which NJ BELLY has just secured for NJ MILLAUD
and his associates, from the States of Central Amer
lea. The English, meantime pooh-pooh the
whole scheme. The Times pronounces it n hmm
Jug ana asserts, that 'the difficulties are so great
anu 'ne cost so enormous, thatit is quite certain it
never VIII be realized, adding that 'eyen if the
can''i were made, it never could be worked -
nhgiish Statesmen are willino to rest
quie' unuer these positive assurances of tho T;,oo
though backed by the authority of the host rn "
engineers, that the canal cannot be mad -
doubted. That they have their msoivino. - -
that point, may be inferred from the apoa
the Island of Perrin, and from the eneror 90 u