The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-02-21

ie published yesterday the speech Of
7. Is Napoleon, delivered ON the formal
| op ing OF the session Of the French Senate
and Legislative body. That it failed by its
stu I'd ambiguity in dissipating apprehension
and spring confidence is clear from the cir
cum snce that the three per cents fell one half
per cent Immediately afterwards on the Paris
Bourse. The news did not reGch London till
after business hours, but q similar effect was
experienced there on the following morning
The Emperor devoted the first part OF his
speech to internal affairs, and the latter part
to his foreign policy. He said that in future a
general exposition of the state of the empire,
as also the more important diplomatic des-
patches, should be laid before the Legislature
| by which it would be enabled to give free
and sincere expression of its opinions. This
change, he observed, notwithstanding its i'm
portance, would not alter in any way the spirit
of the constitution. He reviewed the princi-
pal differences between the institutions Of
France under Louis Philippe and the present
dyDastY-tbe result Of which was of course ia
vOrable to the latter; after which he referred
to the commercial treaty with England and
the advantages arising therefrom, as well
as the design he entertained of negotiat-
ing similar treaties with neighboring
States. To realize these economical reforms
he had renounced ninety millions of francs of
annual receipts; yet the budget would show a
balance Of receipts and expenditure, without the
imposition Of fresh taxes or the contracting of
loan. In his review Of foreign affairs he said
that he had endeavored to prove, in his rela
tons with other Powers, that France sincerely
desires peace, and that, without renouncing a
Legitimate influence, she does not pretend to in
terfere anywhere where her interests are not at
stake. In Italy he considers, alike with his al
lies, that the principle ofnon-intervention affords
the best means of obviating danger. The pro-
vinces of Savoy and Nice are held ''irrevocably
united to France" In China French honor
has been avenged side by side with the British
He says nothing about the withdrawal of the
French forces from Syria, but mentions that
they have gone, in virtue of a European con-
vention, to protect Christians against blind
fanadcism. He augmented the garrison at
Rome for the security Of the Holy Father, and
he despatched his feet to Gaeta at the moment
when it seemed the last refuge of the King Of
Naples; but he had withdrawn it after four
months because it compelled him to deviate
from his declared principle of neutrality and
exposed him to false interpretations. He con-
cluded with an assurance that there was no
cause for apprehension. "My fran determine
ton, he said, sis not to enter on any conflict
where the cause Of France is not based upon
right and justice" He deprecated the folly of
imaginary alarms, and, while advocating a
calm survey of the future, directed the atten-
ton of the people to the development of the
germs of national prosperity.
So much was expected by Europe from the
Emperor on this occasion, that natural feeling
of disappointment was experienced when the
inaugural address was given to the world.
There is a quaint proverb which says that
"Fine words butter no parsnips;" and the i'm
perial speech has fallen upon the popular mind
as SO many fine words, that mean little and
commit him to nothing. He gives no explicit
guarantee of peace, and speaks in that vague,
general way which is considered anything but
like a constitutional sovereign, or any other
than Louis Napoleon, who, whatever he may
decree nominally has no intention of surren-
deripg particle of real power by transfer
of authority to the Senate or Corps LegisldtG
The Emperor has not entered into sufficient ex
PLANTATION of either the past or future TO allay
the fears of Europe. Why is he augmenting
his military and naval forces on q scale that
surpasses the preparations which preceded the
campaign in Lonbardy if he really means
peace, and why did he not account for these
extensive preparations in his address? Europe
Judges by his actions as well as his words, and
the two, it must in justice be said, are not al
ways reconcileable.
spirit Of dissatisfaction and uncertainty
pervades the speech, and there is studied alb
sence Of all but the merest casual mention of
any foreign Power. This unfrendly GOODNESS,
and the omission Of any statement as to the
future policy of the empire, may well in
spire uneasiness. There is an evident mis-
trust of, and dissatisfaction with, not only
his own constitution, but the state of
trade, the principle of non.interventlon
public opinion, and other nations. There is
nothing, in fact, when we carefully peruse the
speech, to show that Louis Napoleon does not
mean war and war we may therefore expect.
Coming from any o,her man we should have &C
copied it as peaceful but coming from him,
we must read it in the same light as his as
suripg words uttered only few weeks before
| the war with Austria.
A SrcGneIIyE ACKNOWLEDGEMENTS Mt tba
City Hall, a very tall man made his way through
the crowd which had assembled to greet Mr..
Lincoln, and expressed a desire to measure
leugtbs with the President elect The result
was n verdict in favor Of Old Abe, whose head
towers above the shoulders Of ordinary hu-
manity. This incident, like many others appa
rensly absurd, has degree of suggestiveness.
After the 4th Of March some thirty millions OF
people will be busily engaged in taking Lin