The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1859-02-10

The Italian question continues to form the chief
topic of discussion on the part of European Jour
nalists. There are some among them who still
predict that there will be an outbreak in Italy in
the Spring. whilst others assert that the balance of
probabilities is in favor of peace. All admit that
there grave issues pending between France and
Austria, but what the nature of those issues
really are none appear know. At first, the diff
Guilty between those two Powers was stated to have
grown out of the advance of body of Austrian
troops into Servia, in violation of the treaty of
Paris; but if this were so, the cause of complaint
has been effectually removed, not only by the
withdrawal of the troops from the Servian from
tier, but by the satisfactory adjustment of the Ser
Wan quarrel Another reason assigned was the
reported failure of NAPOLEON III. to induce the
Emperor of Austria to cooperate with him in de-
handing from the Papal Government certain con-
cessions and reforms and in case the Pope re-
fused compliance, to withdraw the French and
Austrian troops from the Papal States;
but the Oesterreichische Zeitung the semi-oficiaI
organ of the Austrian government, has been au-
thorized to state that the whole story is pure in
vention; that 'no such proposition was ever made
"to the Austrian Government, and that conse-
"quently, there was no refusal" What, then, is
the nature of the misunderstanding between
France and Austria? That it has some reference
to the condition of Italy, and the Austrian occu-
patton, either of the Papal States or of the Prov
lnces, there is every reason to believe; but how
or in what manner the dispute has arisen, appears
at present to be known only the parties them
selves, and to the governments whose good offices
may eventually be required to bring about an
amicable arrangement of the points of difference
Those who believe that war is imminent, point to
the popular agitation that prevails in Austrian
Italy; TO the energetic measures taken by Austria
in anticipation of an outbreak; to the menacing
attitude assumed by Sardinia; to the march of
French troops towards the frontier of Piedmont,
aud to the unusual activity the French
arsenals On the other hand, it is. stated that
the Neutral Powers will not permit the peace of
Europe to be lightly broken; that England and
Prussia are even now endeavoring to bring about
a reconciliation between France and Austria, and
that the special mission to Paris, upon which
Count LEINENGEN, the Austrian envoy, has recent
ly been sent, will tend TO clear up the understand
ing. 1t is therefore, more probable that settle
ment of the points in dispute-whateyer they may
be-will be effected by diplomacy, than that the
issue will be determined by force of arms. The
turn, however, which events may finally take, de-
ponds wholly npon the course which NAPOLEON III
may think proper to adopt; for, without being as
sured of his support, neither Sardinia nor the
Lombardo-V enetians will enter upon contest
with Austria. That the sympathies of the French
Emperor would lead him to participate in any
movement having for its object the expulsion of
the Austrians from Italy, may be very readily in
ferred from the active part which he took in the
italian instruction of 1881; but the Emperor of
France must be governed by other considerations
than those which actuated the young soldier of
fortune. A monarch, however absolute he may
be, must be governed, at least to some extent, by
the interests of the people over whom he rules,
and must pay some Difference to the opinion enter
tanned by other nations. 1t is by no means GER
tain that at this time, a war with Austria, even
though it were ostensibly undertaken for the lib
Grafton of Italy, would be popular in France;
whilst it has already become manifest that the
Germanic Confederation would not witness French
Intervention in Italy, and the loss by Austria OF
her finest provinces, without striking blow in
her defence Prussa's cautious declaration of
neutrality implies doubt whether it would be
possible to restrict such war to the italian PEN
insula, and it is the dread of q general conflict
that gives unusual importance to the negotiations
which are now pending.