The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1861-01-03
BALTIMORE.
THURSDAY, JANUARY 3, 1851.

Whether Austria shall retain possession Of
Venetia, or whether that Province, and the only
remaining piece of territory over which the Pope
still exercises temporal dominion, shall be united
70 the new Kingdom Of Italy, are the most impor'
tant questions that are now agitating the Cabinets
of Europe Upon their solution hang the issues
Of reace and war, and with regard TO them
France has already declared, through the columns
of the Constitutional, and by the pen of NJ.
GRAyDGUILLoT, 'that it is instincively felt that
"decisive crisis is approaching" Any one who
takes even a cursory survey of the state Of Europe
at the present time, can scarcely fail to come to
the conclusion that it is pervaded in many places
with the smouldering elements of revolution,
which even a smaller cause than renewal of the
struggle in Italy would suffice TO blow into
flame. But more especially is this the case in
Germany, where the revolutionary feeling of lS4S
is again secretly at work. For the past eight
wears the popular dislike TO NAPOLEON III, and
the jealous apprehensions that were enter
tanned with regard to his supposed de-
signs upon the Rhenish Provinces, have
constituted a bond Of union between the
rnlers of the Germanic States and their sub
;ec,s But the war in Italy and the organization
of the liberated provinces into Constitutional
Monarchy, have led the thinking portion of the
German people TO remember that they also lad
Constitutions granted TO them in l848 and lS49,
which have, in many instances, been grossly vlo-
lated, and in others have been ignored altogether.
They have also seen that however absolutely MA
porEoy III may have welded the sceptre OF en-
pre whilst France was disturbed by the disorgan-
Using spirit of factions the tendency of his policy
has gradually been in the direction OF liberty,
and that the assistance which he rendered to the
Italian cause in 1859, arose, at least in part, from
desire to bring into contempt the old absolutist
DOGMA OF the divine rIgnt or Kings, ana TO e5IaU-
Ish in its stead the more enlightened theory, that
tbe right of the Sovereign to rule rests upon the
will of the people. These matters have been fer
,oenting in the German mind for some time past,
Int il is only recently that they have begun to
find EXPRESSION. The despotsm of Austria has
called attention TO the restrictions imposed
upon the people in other parts of Germany. Where,
it is asked, are the Constitutions which were
granted to US a few years ago? What has become
of the privileges which were then conceded to us?
Hesse Cassel, taking the lead, has already made q
noble stand for the restoration of her Charter of
liberties; and from the applause with which this
bold act of her representatives has been greeted in
other princpalities, it is evident that they also,
are only waiting a proper opportunity to make
similar demands The recent developments in re-
gard to the atrocities and high-handed outrages
which have been perpetrated under the Police sys-
ten of Prussia have raised a Glamour for substan-
tal reforms in all departments of that Government
which nothing bat prompt concessions will allay.
In France, LOUIS NAPOLEON has met the agitation
which was set on foot by the ultra Montanist
clergy of the Empire in a manner that is well cal
culael, not merely to avert the serious danger
with which he was threatened from that source
but also TO win for himself an enduring popularity
with the masses of the people, and especially with
that influential class, the Publcists, whose oppo-
stion, during the earlier years of his reign he had
just cause to fear. By granting the right of free
discussion to the Corps Legiszat, and by removing
subject to certain conditions, the restrictions which
were heretofore imposed upon the press, he has
rendered harmless the factious spirit that was
beginning to display itself amongst the adherents
Of the Roman Pontif, whilst the happy results
whichit is now confidently believed will accrue
from the reciprocity treaty that he has recently
entered into with England have secured to him the
almost unanimous support Of the manufacturing
and industrial population. Having thus strength
ened himself at home he is in a condition to act in
International affairs as the course of events in the
Spring mayrender necessaryfor the honor of France
and in defence ofthe principles which he himself has
espoused. The position which he intends to assum.
alread4Snect to Rome and Eenetia, is, we think,
lately appeared in2E 2 by the articles that have
pamphlet Which has just been ' n' ana IN the
on the Venetian question. ~, .ho 81 IN ParS
it has been intimated if report speaks p t Court
the time is approaching when the French trooppf
under General GoYoN will be withdrawn. A
the same time FRANCIS JOSEPH has been admon
ished fthe folly of attempting to hold Venetia a
the risk not only of losing that province but O
stirring up an instruction in Hungary also. Hi
true policy, it is argued is to make a sale O.
Venetia, and thus avoid the consequences of q
fresh appeal to arms and the grave complications
to which it would inevitably give rise The wis
dom of the suggestion must be conceded, but the
only answer which the Kaiser made to a similar
intimation from England was to tgh ten his grasp
upon the Venetians and to strengthen the de-
fences of the Quadrateral Nothing since then
has occurred TO give any reason whatever, for
supposing that he has changed his determination
to resist to the last, the whole power of Sardinia.
though backed by the Garibadians and sustained
by the moral and perhaps material support of
France. 1t is evident that if such be his fixed
resolve either the Great Powers must step in to
enforce pacific adjustment of the Italian question,
or war must ensue, such as even NAPOLEON III,
after his splendid victory at Solferno refused to
enter upon in view of the magnitude of the dam
ger to be encountered and of the fresh antagon-
lists that it would bring into the field