The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1859-11-18

The letter of the French Emperor to the King of
Sardinia, which we published yesterday, the
authenticity of which seems to be admitted, by the
European press, states concisely and clearly the
views of the former ruler upon the affairs of Italy.
So long as these might be effected by the doubtful
fortunes Of war, men sought in vain to pierce the
impenerabe mystery in which he shrouded
his intentions. Some general phrases fell from
his lips from time to time, such as the announce
ment that Italy should be ''free to the Adriatic."
but he guardedy abstaned from giving any spe-
ciic information about his plans and purposes
What disposition he would have made Of the
Duchies and Venetian provinces, and what restric-
tons he would have imposed upon the temporal
power Of the Pope, if he had succeeded in annihi-
lating the armies of Austria, il is impossible 10
say but there is little reason to doubt that in such
case his programme would have been different
from the one now adopted. His alliance with the
liberal government Of Sardinia proved that he was
not altogether unmindful of the days when he
fought for the revolution at Forli and denounced
the misgovernment of Rome But the gigantic
strength Of Austria only weakened and
not subdued at the battle of SoIferino and she was
backed by the sympathy of Germany, which was
almost ready to take up arms in her be-
half, while the ardor of France was
checked by the hostile jealousy of England
Half of Europe was mutterng threats against
NAPOLEON, and hundreds of the adherents
Of the BOURBON and ORLEANS dvnastics were
Matching conspiracies 10 overthrow him Under
these circumstances it is not to be wondered at
that he paused in mid career and accepted the
concessions OF Eillatranca in lieu of the absolute
surrender of all the Lombard and Venetian prov
inces. That he did not accomplish what was ex-
pected Of him by the world, and failed to secure
to the Italians all they had been taught to hone
Tor, IS certain; but it is probable that he has been
made to bear more than his fair share of the
blame. lie offended the Catholic Church without
securing the goodwill of Protestant countries:
and took ground against the absolutists in Italy
without gaining thereby the support of the liberal
governments of the Continent We do not mean
to say that Louis NAPoLEoNs motives have always
been unselilsh, or that his policy at home or
abroad has been uniformly frank or just, but he
was on the right side of the question when he
sent his armies over the Alps; and until he mani
Tested a determination treacherously or violently
to abuse his success, he entitled to assistance
from the powers that protested so warm an inte-
rest in the Italian people. Having signed the
treaty of Villafranca, the EMPEROR is bound to
carry out It's provisions, and what these are he
has very explicitly stated in the letter we have
mentioned 1t is evident from this document
that ne Is still surrounded by many embarrass-
ments, and that be realizes the fact He has, to
use his own words, ''to reconcile multitude o.
'intercsts, often of an opposite character The
treaty to which he finds himself party has at.
tempted this difficult business It undertakes to
reserve "the rights Of sovereigns," 'guaran.
''tee the independence of Central Italy, u
satisfy the religious sentiment of "CathoIit
Europe" and ''make concessions in conform
'ity with the legitimate wishes of the popula.
'tions." To effect these objects, it is now proposed
to enlarge Sardinia b the addition of Parma and
Pacenza to its territories, to restore the DUKE OF
TUSCANY to his dominions, recall the DUCHESS OF
PARMA to reign over Modena, and to form all the
States of Italy into a Confederation, whose repre-
sentatives shall sit at Rome under the Presidency
of the PoPE. This is an arrangement which GER
iainly cannot ''wound the Catholic sentiment" or
The rights of the sovereigns in whom Europe felt
ian interest" How does it satisfy the ''wishes of
1.-THE populations or bring any nearer to them
the reforms they so ardently desire? It does this
only partially and indirectly, by strengthening
Sardinia and placing the fortresses of Manua and
Peschiera in the keeping of the Confederation
For the rest, everything depends as it did before
the war, very much on the will of the EMPEROR of
the French. lie promises to use his influence
with Austria and the POPE, that representative
"system and salutary reforms NAV be introduced
into each of the confederated States. All this may
mean much or nothing. But there is one sentence
IN NAPoLE0N's letter that is encouraging enough,
if he honestly adheres to it. He demands that the
Confederation shall be formed 'to the exclusion OF
''every foreign influence" and if this be really
insisted on, 1t may turn out that he has saracious-
" done all that is necessary to insure the
independence of the Peninsula If he ab-
stains from further interference himself and
forces Austria to do the same thing,
the King of Sardnia'and GARIBALDG need not he
much troubled about the restoration of Dukes or
Duchesses- The people of Tuscany have been
clamorous Tor annexation TO Piedmont and have
already abolished the cnstom-houses between the
two countries, and set up the Sandman arms in
Florence and besought VICToR EMMANUEL TO accent
their allegiance; while at Rome the late demon
STATIONS have proven that but for the French
troops that city would be in arms like its Tuscan
neighbor IT, therefore, the Italians are left to
themselves we have no doubt the Legitimate
''wishes of the populations will be speedily full
filled. If LoUIs NAPOLEON keeps faith with them
on this point time may show that the treaty of
Villafranca was not so delusive as it now appears
TO be, and that he has honestly done all that the
opposition or apathy of Europe would permit,
for the liberal cause of Italy.
DRAMATIC
There was n full attendance ot HoTIidoy Co.. .