The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1859-04-28

Patent Medicines, Steamships
Newspaper.
The latest news from Europe by the steamer
Washington is indicative of anything but a peace
full solution of the italian quarrel If the three
belligerent powers could be brought to consent to
forego their warlike preparations during the pro-
posed session of the Peace Congress, something
might yet be done towards composing their differ
ences but there appears to be but little prospect
that the Congress will meet at all. We have in
deed semi-oflicial announcement by the Paris
Pays that France, Austria, and Sardinia, had at
length agreed, under certain conditions, 10 disarm
simultaneously. There seems, however, to have
been but little faith placed in the correctness of the
statement, for although its immediate effect was to
occasion sudden rise in the market value of pub
lie securities, reaction set in again the next day,
which drove the price down to its former point of
depression. 1t is evident that no proposition has
yet been made which meets the question squarey
and It is equally certain that the only two Powers
which really desire to avert war are England and
Prussia. Austria is anxious that the Congress
should meet; but she is only willing to submit to
its decisions condition that her proprietary rights
IN Italy shall be respected. She will consent TO with
draw her troops from the Roman States and to mod
ify her treaties with the Independent Duches; but
these appear to be the only concessions which sheis
willing to make. As condition precedent also, to
her entering the Congress- she first demanded that
Sardinia should disarm. Upon the resolute refusal
OF the latter to accede to proposition couched in
language so imperative Austria expressed her will
lingness to consent to general disarmament. To
this suggestion LOUIS NAPOLEON vouchsafes no re-
sponSe but leaves his determination to be inferred
by pushing forward, with increased activity, his
preparations for war. That Russia sympathises
with France and Sardinia, remains longer a
matter for doubt The st. Petersburg Gazette
which is usually regarded as rejecting the opinion
of the Government, boldly declared, recently, that
the Italian question was not one which admitted of
compromise that the peace and independence of
Italy could only be permanently secured by the
expulsion of the Austrians. When therefore we
learn that the Government, of the Gar the
first to breach the idea of Congress, and that it
was submitted through the French Ambassador,
at London to the English Government it is not at
all difficult to understand the influences that are
at work, or the motives which led to the adoption
of this expedent. 1t was essential, for many reo-
sons, that the war should not be precipitated.
Throughout Germany, at first, the popular feel
ing showed itself in favor of supporting Austria,
against France, at all hazards. Even the
French nation was not prepared to enter upon
which would necessarily derange the COM
merce of the country, and which could not, it was
feared, be restricted to the Italian peninsula. To
enlighten public sentiment upon the true causes of
the quarrel, and especially to soften, by frank and
timely explanations, the hostile spirit evnced by
the smaller members of the Germanic Confedera-
ton became, therefore, matter of paramount i'm
portance. 1t cannot be doubted, moreover, that
the extraordinary energy displayed by Austria in
nnmasking, if we may so express it. such an
immense army, complete in all its appointments,
and ready TO take the field at any moment,
must have been witnessed with profound
surprise by more than one of the Cabinets of Eu-
rope, and supported as she appeared TO be, by
ly all the smaller Powers of Germany the resolute
titude which assumed might well suggest
the necessity of adequate preparation before trying
conclusions with so formidable an adversary. The
policy Of LOUIS NAPOLEON seems therefore to have
been, in the first place. to isolate Austria from her
surroundings, and, in the second, TO awaken the
popular sympathy of Europe in favor of the OPP
pressed Italians. To accomplish both Of these re-
suits 1t was not only necessary that he should ac-
cept the good offices of the neutral Powers with a
view to settling the oerata qupstio by diplomacy,
but that he should appear to court them. If there
by, an honorable adjustment of the quarrel could
be effected, it was we'll. If it could not he was
at least placed in better position for complying
a.,
occupied in negotiation, while it added greatly to
his moral and material strength, was more
ruinous to Austria than the loss of pitched
battle. The Austrian Exchequer is in no
condition to maintain for six months,
standing army of seven hundred thousand men
without resorting to a tax; while the credit of
the government has recently been still more severe
ly shaken by lis failure to negotiate loan. Had
Austria, in the first instance expressed a willing
ness to limit her pretensions to the peaceable
possession of Lombardy and Venitia-to revoke
her secret treaties with the Italian Duchies, and TO
exert her influence in future, in favor of promoting
useful reforms in the Administration of the Roman
States, she would have escaped the perous posi-
ton in which she is at present placed. But now that
matters have reached crisis, it is scarcely within
the range of probability that any effort of diplo.
macy can rescue her from accepting, finally
still more humatng conditions of peace Judg-
ing from the present aspect of affairs, there is but
one of two courses open to her-she must either
submit to such conditions as France and Sardinia
may think proper to impose, she must seek for
safety in a long and bloody war. AS the first al
Tentative could not be adopted without the sacr-
flee of pretensions TO which she pertnaciously ad-
here's and as it would be, moreover, derogatory to
her national honor there is no longer any mode of
escape open to her but by an appeal to arms. That
the struggle when it does commence, will be pro-
tracted one, no one can doubt who is cognzant of
the strength of the Powers that will be arrayed
against each other, or of the immense stake at
issue. The loss of her Italian possessions would
reduce Austria to the position of a second-rate
European Power, and whilst it would add large
extent of territory to the present Kingdom of Sar-
dinia it would leave the Italian people to the free
exercise of those political rights of which they
have so long been deprived. 1t would constitute
Prussia the dominant Power in Germany, and,
even if France should derive no other advantage
from the result of the conflict than the renown of
having liberated Italy, the glory of that achieve
ment alone would go far towards permanently es-
tablishng the dynasty of NAPOLEON.