The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1860-02-02

and the Bills will certainly pass in their present
shape
The European Congress is still Potentially
only. 1t has frequently been announced that it
was upon the very point of meeting, and various
cities have been mentioned as the places in which
it had been positively ordered to assemble, but so
far the distinguished statesmen who were dele
gated to attend it have not emerged from the
cabinets in which they were supposed to be re-
ceiving their final instructions. 1t is now stated
that the project will be wholly abandoned, and
the rumor seems to be we'll founded. 1t has been
doubted from the first, whether the world would
have been much the gamer through its labors.
The conflicting interests of the various powers
which would have been represented, would, in all
probability, have led only to nterminable discus
sions. 1t will only be when some of the Euro
pean States have gone farther and Jared worse
that they will peacefully make the concessions
necessary to put an end to existing complications
Austria, having already lost so much in Italy, is
loath to enter into any arrangement that does not
secure the return of the banished Dukes of Tus-
cany and Modena to their former dominions
Prussia, DESTROYS to see Austria humbled, but
unwilling that France should increase her pres
ent power and influence on the Continent, appears
to be somewhat perplexed in regard to the line of
policy it is most advantageous to pursue. Eng
land is committed in favor of the liberation Of
Italy, and anxious for the Downfall of the POPE
but fears to press these projects too actively lest
she should thereby promote the ACKNOWLEDGEMENT
of France That this latter result is likely to be
one of the consequences of the late war becomes
daily more apparent. The French EMPEROR has
not, as it now appears, been unmindful of more
sordid gains, even when battling, as he said, for
an idea, or leading his army in hot pursuit of
glory He undertook to free Italy to the Adriatic,
and when he set about that business he knew the
heavy cost it would en- tail upon him. Sardinia
is, of course, responsible for portion of the out
lay, but it would never have done to ask that a
country, whose resources were comparatively lin
tied, should absolutely reimburse France for her
expenditure in a quarrel to which the latter vol
unteered to become party. But suppose LOUIS
NAPOLEON, after having transferred Lombardy to
VIcroR EMMANUEL, should manage to secure him
the Duchies and Romagna also, he may then,
with very good grace, ask the restoration to
France of Nice and Savoy Such is said to be
the present programme OF the Allies, who
have heretofore had the affairs of the Pc
ninsula pretty much in their own hands.
If such plan is really under consideration we
may venture to predict its successful execution.
Sardinia and France are now in position to defy
any opposition except such as a coalition of some
of the great powers of Europe might offer. If the
former annexes Central Italy, and the latter with
draws its troops from Rome the strength of the
Allies will be far beyond what it was a year ago,
and instructions in their own States would eff
fectual'y paralyze the governments of Rome
Naples and the Venetian Provinces. Nothing
could prevent the extinction Of Austrian infu
ence in Italy, and the distribution of the provn
ces of the latter in conformity with the wishes o
LOUIS NAPOLEON but the combined interference O
England and Prussia 1t is not probable, how
ever that they would go to war at this momen
for the purpose of thwarting France, and England
would be compelled 10 accept the regeneration o
the Italian States compensation for any cha
grin which the extension of the territorial limits o
France would naturally produce. But whatever
may be the schemes of the French EMPEROR, it il
evident that he is prosecuting them with tina
steadiness of purpose which has heretofore char
menace yet which he has not subsequently carried
into execution. When he threatened Baron Hun
NER at that famous levee, the world knew b
meant something, and Magenta and Solfern
proved his tenacity of purpose. When, therefore
he said Italy should "be free to the Adratc,
we could not but place considerable reli
ance on the promise. In common wit
all who watched the progress of the cam
paign in Lombardy we taken somewha
aback by the peace of Villafranca, but since W
have been enabled TO comprehend the almost insur
mountable difficulties of his situation, we are force
to admit that LOUIS NAPOLEON took then tn
wsest course that was open to him. If he ha
not abandoned the objects for which he then con
tended, time has only demonstrated the sagacit
and prudence of his conduct, for, by adroit man
agement he has been gaining ground when ever
one supposed he was retreating If he had force
the celebrated Quadrangle he could not have bee
more master of the situation than he is to-day
His late movements, too, indicate that his polio
in Italy has undergone no change. His refuss
to disavow the doctrines of the pamphlet, entitle
'the Pope and the Congress" and the resignatio
of Count WAtEwsKI give us some assurance tbs
he still holds the views be announced some year
since, when he said the temporal supremacy of tn
PoPE ought to end. From his determination t
allow no foreign army to suppress the revolte
Duchies and provinces of Romagna, we are in
cined to believe that he adheres to his origins
project of constituting national government 70
Italy. OF course we. can but speculate vaguel
about these matters, but if it should turn out tha
our surmises tolerably correct Italy will ye
'be free to the Adratc," and, in such event, n
one will, in future, dispute the proposition tha
LOUIS NAPOLEON is the most consummate statesma
of his time
THE HOME OF WASHINGTON AFTER
THE WAR
The following description of this painting, no,