Muscatine weekly journal. [volume] (Muscatine, Iowa) 185?-1890, 1859-07-29

The leading papers Of the country differ
materially i'll their comments on the peace
news from Europe. Some ridicule Napoleon,
and others think he is playing game which
will yet show his foresight and wisdom. All
seem to deplore, however, the establishment
of the temporal power Of the Pope over the
Italian confederation, the blending of the
spiritual and temporal powers in that dignitary
having been productive Of the most disastrous
results. "This," says the New York Courier
and Enquirer, sis conceded, not only by
Professionals, but by intelligent Romanists"
Napoleon has indeed humbled Austria, and
established himself as the first power on the
continent, but by his deception towards the
cause Of italian independence he has.tatl,ted
the contempt Of the civilized world. The
New York Tribune holds forth as follows on
the subject:
"The italian war is over. On the 9Th inst
an armistice was, to the surprise of every one,
concluded between France and Austria
Three days afterward, the two Emperors had
an interview, which resulted in peace, of
which the conditions would seem to be a
death-blow to all present hopes of Italian
independence. An italian confederation is
to be formed under the Honorary Presidency
of the Pope;' the King of Sardinia, who sue
cecds to Austria's rights in Lombardy,' is to
be one member, and Austria herself, in so far
as concerns Venice. which she will retain,
another. What rights the members of this
Italian confederation are to enjoy; what
position the Pope will, as Honorary Presi-
dent occupy; whether the condition of the
Papal States is to De improved in any respect
whether Venice is any better off than she was
before the war; whether tho Grand Dukes
are to be reinstated; how the King Of Naples
is to stand; what, in word, is the full
import of this italian confederation and
what part Austrian or French bayonets arc
hcnceforth to play in the Peninsula, are
questions yet to be answered. Our sole
source of information touching the treaty is a
brief telegram from Napoleon The London
press appears to be much in the dark the
friends of freedom are justly alarmed for the
future"
On the financial and commercial effect Of
the news, We have the following from two
New York papers. The Heralds money
article says:
"The restoration of peace in Europe, the
most important event that has happened since
the war broke out, produced little or no effect
in commercial or financial circles here to- day.
No doubt the season of the year, which is
provcrbialy unfavorable for speculative move
ments, is in measure the cause of the pre-
vailing apathy. Something is also due to the
complete sway which the bears exercise over
the Stock exchange, and which, for the pres
ent, paralyzes the action of that body 1t
may be doubted whether the dull Indifference
manifested in all monetary and commercial
circles, to-day, can be of long DURATION"
The Post says:
"While the news from Europe appears most
unsatisfactory for two important interests
the Western trader and the importer-yet
there is, of course, much reason for congratu-
lation that so agitating an element as an
European war is removed from the financial
system, permitting wider action of conf
dence, the essential condition of prosperity in
the aggregate. Few can doubt that, whatever
may be the temporary advantage to the West,
and however slow the recovery from embar-
rassment, the termination of the war will
generally facilitate business interests, and
establish better state of things generally"
~<S>---