The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1859-06-08


Baltimore, Maryland"
1t is clear that the neutral attitude assumed by
England, and the strong corps of observation
established by Russia on the Austrian frontier,
are holding in check, at least temporarily, the
tive spirit of the Germanic Confederation. The
petty Kingdoms and principaities of Southern Ger
many, whose Gallo prejudices are exceedingly
strong cha under the necessity of restraining their
warike ardor, and of witnessing the isolation of
Austria without daring to lift a weapon in her
defence The cautious policy adopted by the
French EMPEROR, Also leads to growing conf
dence that the war will not be carried beyond the
boundaries of Italy, and that every possible care
will be taken to give of offence to the
neutral Powers. Every decree that has been
issued by the French Government indicates reso-
lutte determination to separate the Italian question
from all its surroundings, and even to embarrass,
to extent the operations of the allied armies,
rather than give occasion for complaint. To avoid
the appearance of menace to Central Germany,
the idea of concentrating a French army, under
the command of the Duke of Malakoff, in the
vicinity of the Rhine, has been abandoned, and
are still in garrison. In like manner, it is now
very generally understood that instead of attack
ing Trieste and Venice and occupying in force the
passes of the Rhetian and the Carnic Alps-thus
rendering it difficult for Austria to furnish her
army in Italy with reinforcements of men and with
the requisite munitions of Wharf.-The only offensive
movement in that direction will be to maintain a
rigorous blockade Of the Gulf of Venice. We may
here notice. also, that the proclamation recently is
sued by the French Government-and which for
may recognises the principle not long since enun-
cated by the UNITED STATES that ''the neutral flag
''covers the enemy's goods"-evinces a like desire
to conciliate the maritime Powers; but it ought to
be distinctly understood by those who have taken
this declaration in its broadest acceptation that it
does not give up the Fright of VISIT nor does it
include Particles contraband of war" There seems
too, at present, some difficulty in defining with
any degree of accuracy, what is meant by
artcles contraband of war, and rs each belliger-
ent Power has the right to add to the list of
articles which are commonly regarded as coming
within that category, any undue extension of the
catalogue might occasion serious disputes I'M
less notice was previously given, and the COM
traffic with the enemy were distinctly specified.
Of course it must be expected that so long as
the war continues, and the French fleet hold COM
mand of the Mediterranean and the Adriatic in
stances will occur in which those who command
neutral merchant vessels, will find more or less
cause for protesting against untimely visits from
ships of war; and against the surveillance to which
foreign commerce will necessarily be subjected
No Captain of a merchantmen likes to be abruptly
stopped in his course by shot across the bows ofhs
vessel and still less does he like to be visited in
quisitorally. There are times, too in the life
of every man, in which he is not disposed to be
amiabe, and we all know how great fire a small
spark will kindle. Nevertheless, all the circum-
stances that have yet TRANSFERRED go to prove
that while the French EMPEROR is heartily bent
upon expelling the Austrians from the Italian |
peninsula, he is neither disposed to encroach upon
the rights of neutras, nor even TO draw down upon
himself the active hostility of the Germanc Con-
federation. The Cologne Gazette, which, we be-
leve, reflects, with entire accuracy, the sentiments
of the Prussian Government, in stating the
reasons why Prussia has assumed an attitude |
of neutrality, sets out with the clear and
defended by Austria in Italy, cannot in
''spire Prussia with any sympathy We noticed
moreover, in previous article on the debate in
the Prussian Chambers at Berlin the careful avoid
ance by the Prince Regent, in his speech at the
close of the session, OF all reference whatever to
the Italian question. If the nationality of Germa-
ny is attacked, he said in effect, it will become ne
cessary to defend from invasion the German SOIL
In the meantime it is duty to ARM to be watch
full, and to wait the turn of events. Lombardy
and Venitia according to the Interpretation of the
Cologne Gazette, belong to the extra Federal pos
SESSIONS of Austria, and the members of the
Federal Diet are only bound, by the provisions of
the treaty between them, to mutually assist each
other in a common defence of the Fatherland. If
then, the same precautions are observed through
out the whole period of the war in the peninsula
as are evidently enforced at the present time, the
commerce of maritime nations will be carried on
with almost the same and security as was the |
case before the war took place. and the only inter-
ruption it will experience will be from the blockade
of certain ports at which vessels of all nations |
were previously accustomed TO load or discharge |
their cargoes.
But although it is very generally believed that
the war will be restricted to the Italian peninsula,
there are nevertheless among commercial men, many
underlined doubts and fears as to the position which
the German States will ultimately assume Not
outstanding the neutral attitude assumed by
Prussia, the excitement with regard to the war,
growing out of desire to sustain the pretensions
OF Austria, has increased within the past few
weeks, and especially among the smaller sovereign
ties such as Wurtemburg, Hanover, and Bavaria
This unsettled condition of affairs has produced
an unwillingneSs on the part of English merchants
to charter British vessels for long voyages or even
to make contracts with the French and Sandman
governments for the transport of Goals and provi-
slons to the Mediterranean, lest in the first in
stance, general war should break out in Europe
before their vessels could return port and in the
second through a wholesome apprehension of vio-
lating the neutrality laws. 1t has however been
officially declared that charters made between pri-
waite individuals for the conveyance of Goals and
provisions constitute no infringement of the laws;
but the result OF the uncertainty with regard to
the future, has been TO open up to own mercan-
tile marine, tempting opportunity for embarkine
in the transport business which cannot fail to give
employment to large number of American vessels
that for long time past have found it difficult to
obtain freghts at any price. We may therefore
look for considerable activity among our shipping,
and as the neutral flag covers the cargo, with the
exception of articles contraband of war, the risk
will be comparatively small while the profits, from
the absence of competition, will in all probability
render the business exceedingly remunerative.
We mentioned yesterday, the demise of FERDI-
NAND H., by the grace of God King of the Two