The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1859-08-25
EUROPEAN NEWS.
b Y THE BR EN- z N
THE PAPAL STATES.

lelIef from bologna gives the following par
tlculars respecting the loan now being made in the
Legations:
'The presence of army of 10000 or IL 900
men at Rmini, to prevent the restoration of the
Pontitical power in provinces has for some time
past made US feel the necessity OF procuring money
tor its maintenance. The Cardinal legate carried
off the funds of the old Government and the local
authorities are unable to raise sufficient means to
meet the expenditure necessary for the defense of
the country. At first it was proposed to apply to
the different bankers of Europe to conclude loan;
but it was soon ascertained that such a step would
have only been attended with great loss of time.
The imposition of tax would have imperiled the
popularity OF the Provisional Government with no
Immediate results of any Importance, as the taxes
are already too heavy. The only plan that seemed
to promise success to solicit assistance from a
friendly Government, and as we could scarcely ap.
ply to any but Sardinia. believe the late visit
of our Finance Minister, the Marquis Pepoli
for that purpose. 1t seems that he met
with polite refusal to entertain the question:
We were, therefore, in sad predcament
when the Chevalier Nassima d'Azeglo
came here. This gentleman did not stay
long enough as Sandman Commissary at Bologna
to take the finances of the Legations in hand, but
he sketched out plan for national loan, which
his successor, Col Falcon, began to realize. The
whole projec consists in converting into a loan the
numerous taxes previously decreed by the Pontif-
cal Government, and which have gradually
changed their provisional character into that of
permanent imposts. In virtue of decree of the
new COmmissary, these taxes to be continued
for six years, and their produce will constitute a
public DEBT bearing interest at five per cent. This
loan will be augmented by voluntary subscriptions,
to be paid in three equal installmentst within three
months. The loan of the Legation, therefore, pre-
sents at the time the character of forced and
a voluntary lOan-forced to the taxpayers, who for
six years will continue to bear the burdens imposed
By the old Government, and voluntary for the new
subscribers. The result of the subscription is most
satisfactory.
A proclamation issued by the Junta at Bologna,
on the I'd instant, saws:
CITIZENS OF RoMAGEA: A solemn epoch occurs in
the annals of nations, influencing their destiny for
years to come. Europe has learned that rest is
to be looked for here until laws had suitable to
contemporary civilization. The champion of
Italian independence sympathises with u.s. and
gives his concurrence in our reasonable claims
Confidence and concord! order and organization
our long minority is over, and we take affairs
into our own keeping, to transmit independence to
our chindren
(Signed:)
JOACHIM NAPOLEON PEPoLI, CEsARE ABEIANr,
lPPoLTo GABIA, PHILPPO MARTGNELLI,
ANTONIO MoNTANARI, FERDINAND PINELLI
The Independence Beige has the following:
Our letters from Rome announce the introduction
of reform in the Pontifcal States, the importance
of which no one will be disposed to deny. In con-
sequence of the negotiations which have been going
on with reference to the Presidency of the future
Italian Confederation, the Pontihcal Government
has consented to adopt the Code Napoleon, sup
pressing only those articles relating to the civil
marriage. few days ago we announced the
adoption of this same code without the obiectona-
Bile restriction above mentioned by the Provisional
Government of the ROmagna. If this resolution
has really been taken by the Roman Government,
it is probable that the fall of Cardinal AntCnelli will
precede these notifications in the political system
which that Minister has never ceased to support
with such dep!orable obstnacy.
THE DUCHIES.
The NoRttore IOscano, in describing the depart
ure from Florence of SignOr Boncompagne, the
Sandman Commissioner, says:
All the streets through which the cOrtege had to
pass were adorned with the French and Italian flags
The crowd, bareheaded during the Commissioners
passing, enthusiastically cheeerd Victor Emanuel
and his worthy representative. At the railway
station a delegation from the people of Florence
begged the Commissioner to commend Tuscany to
King Victor Emanuel, and the Mayor of Florence
offered him the freedom of the city. The Com
missioner replied in well chosen words, after
which he shook hands with every body near him,
and received a number of boquets. After his de-
parture the crowd continued to cheer for the union
OF Tuscany with Piedmont under the constitutional
sceptre of King Victor Emanuel. Florence will
long recall that day, so full of emotion.
AUSTRIA.
The Austrian Gazette has the following reflections
on Lord John Russelrs despatch Of July Z:
Not only is Lord John Russell unable to abstain
from railing against Austria, unseemly as it is in
such document, but if we go to the bottom of the
matter, he means-We will oppose every arrange
medt which shall not tend to the complete expul-
sion of Austria from Italy The old story, that
Austria has provoked the war, is repeated with
unusual audacity, and people do not even shrink
from manifest falsehoods.
The note in question makes it clear that the Aus
trian government was not mistaken when it thought
that the English Cabinet approved the French
propositions which were intrusted to it, unless,
perhaps, that Cabinet did not find them too agree
able. The Wing Cabinet would like now to arrive
by roundabout way at the object which escaped
it by the peace of Vilafranca; we consider it both
n rio oh tO foil hat Lord ohn
Russels note forms worthy pendant to his speeches
and those of Lord PalmerstOn.
The Ost Deutsche Post saws:
note of Lord John RusselPs gives some instruc-
tive information respecting the attitude of England
in the Italian question. The English Minister of
Foreign Affairs replies in that note to Prussias
propositions of mediation, and we must conclude
from thet English reply that Prussia wished to lay
down as basis of mediation the maintenance OF
all Austria's possessions in Italy.
Lord ohm Russell was not disposed to enter into
negotiations that basis, for he supposed that
Napoleon Ill. wished to eXpel Austria entirely from
Italy. Now Lord John Russell had not the least
desire to oppose himself to that, in concert with
Prussia; we see, on the contrary, that the English
Cabinet would have witnessed with great satisfac-
tion the complete execution OF the French pro-
gramme.
As France did not wish to acquire anything for
herself in Italy, the political balance of power in
Europe was not threatened. Lord John Russell
looks at the balance of power in Europe only as
moral balance of power. We have desire to re-
form his opinion on that point
But we cannot refrain from making one observa-
tion; if Napoleon III. were to invade England, he
would certainly have idea of making lasting
conquests there. Consequently the European bal
ance of power would not be threatened, and the
continent might consent, in undisturbed tranquil
lity, to the powerful trident being snatched from
the queen of the seas.
UNION OF TUSCANY AND MODENA.
We have news from Italy that Tuscany and Mo-
dena arranging a union of their forces to resist
any attempt to force back upon them their late
rulers. 1t was hoped at the last accounts BY the
liberals, that Parma would join in the coalition and
that Ulloa and Garibaldi would guide it to a sue
cessful issue. In connection with this it is conf
IDENTIFY asserted that Rome and Naples refuse to dis
cuss the question of an Italian Confederation so
long as the Dukes excluded from their domin-
ions-a statement which is very probable, but is
not likely to have much effect on the people of the
Duchies. The correspondent of the Daily Netos,
writing from Garibaldi's head quarters, at Lovere,
says:
"Seventeen Roman battalions have been sent by
the Provisional Governments of the Romagna
towards the Cattolica. When arrived there half of
them will be directed on Urbino the other half on
Gubbio and Perugia. These battalons will soon