The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-05-12

Iimburg The teI,h by Hanover Oldenburg, Brunswick,
Holstcn, the Mecklenburgs aud tho Free Cites, WIN
mixed division composed or various small FRY, lnen
numerical strength the peace establishment s aous
three hundred thousand men, but which in case OF war
could easily be raised TO five hundred thousand mhy
srpposng that the contingent of Austria would not nave
TO be employed elsewhere The three Prussian oorp IA
tended to form aoomponent part OF the feaera army ~
the Third stationed at Brandenburg), the Seventh u
Westphalia) and the Eighth ION the Rhne)-some eghy
thousand strong with one hundred and sixty pieces
OF cannon. - o.o
Watching for he Ne,ps Of the First Bat.el-Diapproual
Austrian Polics-Pani on the Bo,nse-Reports Of RaI
sia's .4ctire Interference, dc.
We are waiting with eversh anxiety for intelligence
from the of action expecting every moment TO have
accounts Of collision between the Austrlans and Pied
montese. AS yet, however, no such Information has
arrived, and We learn from England that Lord Derby
is making last effort 10 preserve the peace by proposing
general disarmament Of the three behgerens, or their
remaining In satu quo while basis is formed for ne
collation. There very little chance Of such pro-
ject being accepted by AUSTRIA as would not only be
humiatiBg to her PRIDE but deprive her of the advan
tages she now derives from attacking Piedmont before
the latter be joined by French army; at any rate,
you will be informed Of It's success via Paris and London
at the same time that this reaches YOU
Ny statement that the government OF this country dis
approves decidedly Of the late Austrian escapade Is
confirmed by the Official Prsiaa Gazette which expresses
itself very epergetcaly the subject and refutes the
assertion Of an Austrian organ that Prussia aware Of
the ''unalterable determination" of the Court OF
Vienna previous TO the departure Of Archduke
Albert from Berlin. II appears, the contrary, thas
the Archduke, finding the Prince Regent and his admirers
srenuousy opposed to the proceedings of which ne
had given them notice. had ntmated that seeing Prussia
so much against IT, his cousin, the Emperor would
reconsider the matter and revoke the umaum that
already prepared The Prince is naturally indignant AZ
the disregard with his advice has been treated aud
for the moment understanding with is entirely
out OF the question Prussia endeayorng TO form
coalition with Great Britain and Russia for the main
tenapce OF an armed neutrality which would coDhne the
hosties to Italy and prevent them from extending 10 The
rest of the continent If either Of the begerents shond
gam too great superiority the other the neutral
Powers would then step forward and prescribe such
dons of peace as they think most conducive TO the int
Europe general England is quite willing close
with this proposal but the attitude of Russia ambiguous
and sxcltes considerable apprehension. We have ad-
vices from st. Petersburg that orders have been
given TO place part OF the Russian army the
establishment and to Concentrate the Austrian
and Prussian frontier and although such measure may
caused uneasy feeling, and confirms the distrus with
which the policy Of our great northern neighbor is
garded There s even ramor current that Russia has
concluded offensive and defensive alliance with France
and Sardinia; but have not been able to any
authentic source, and should say that least prema
ture.
The money market is in distracted state Austrian
securities especially have experienced tremendous fall
and can hardly be dspSssd Of at Yesterday
since Thursday Those misguided individuals who
specuIated, Ia Bourse, on the faith of the pacific
prospects held out by the Moniteir, have suffered
enormous Losses; one Of our first bankers, Charles
D. WOLF, suspended his payments on Monday, leay
ing differences unsettled 70 the amount of 10000
thaers Prossan funds have shared in the downward
movement although far less degree than the Austrian
and as the Minister of Finance has given notice TO the
Chambers that be viii demand credit Of fifty millions to
be applied to military purposes further decline may be
anticipated.
To-day default of authentic news the most conradic-
n
formed Austria that she will consider her crossing the
Tcino o bei that French squadron had appeared
in the Adratc and British fleet has been ordered to the
Mediterranean. On the other hand, it asserted that
Austria has prolonged the granted Sardinia for
cediDg to her demands and opinion is h-.lred
che. oh" sill eventually withdraw her utimatun and ac
quesce IN the proposals transmitted to her by the British
government. quite useless TO discuss the probability
of these and other hypothesis which have substantial
foundation; very few hours must remove all uncer-
tainty.