The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1861-01-30

BY the arrival of the steamer Etna, at New York,
we are put in possession of advces from Europe to
the 10th instant. The news is not of any special
Importance, for the journals of England and
France, in the dearth of more exciting events
nearer home, were busily engaged in discussing
the state of political affairs in this country. The
termination of the war with China; the reorgani
zation of the Anglo-Indan army; the complica-
tons which surround an adjustment of the Syrian
question; the shipment of arms and munitions Of
war to Bulgaria, to be carried up the Danube and
the Brave, or across the Carpathians into Hun
gary; the partial abolition of the passport system
in France and the free circulation throughout
that Empire which has recently been allowed TO
foreign journals constitute the chief minor topics
engaging public attention abroad. In Italian
matters the withdrawal of the French fleet from
Gaeta, and the conclusion of an armistice between
VICTOR EMMANUEL and the ex-King of Naples, have
given rise to a variety of rumors Interpretations
According to some accounts, the recall of Admiral
BARBER DE THAN from the Bay of Gaeta, pre-
sages the evacuation of that fortress by FRANCIS
II, and the disbanding of the garrison. The Le-
gitimist journals, however, declare that he will
defend his last stronghold against the combined
military and naval forces of Sardinia until starved
out or crushed ont. Before either Of these events
occur they predict that some one or other of the
Great Powers will come TO the rescue. If France
refuses any longer to hold the Sandman fleet in
check, Russia, they say, will undertake TO do it
instead; and by thus restricting the operations of
the siege to the land forces, the capture of the
fortress will be delayed until the close of Febru-
airy, by which time Austria will be ready
to take part in the war. On the other
hand, the official journal at Turin states
that although no particular day was agreed upon
on which the armistice was to terminate, the
movements of the Sandman fleet were to be left
unrestricted after the 10th Of January. In the
meantime GARIBALDI clings to the privacy Of his
rude homestead the Island of Caprera, and re-
fuses even to consent to become a candidate for a
seat in the new Italian Parliament He well
knows that the duties of legislator are alogeth-
err Incompatible with his plans for uniting all
Italy under one sceptre. So long as Venice re-
mains under the yoke of the Austrian. and the
Pope exercises temporal authority over the City of
Rome and the adjacent Provinces, he has SOL
dier's work to do, and will not shrink from con-
fronting the combined temporal and spiritual
mower of the KAISER and the POPE, in the execu-
ton of the patriotic purpose to which he
has devoted himself If the KAISER were
wise, he would not hesitate to sell We
META TO Sardinia for fixed sum, rath-
er than run the risk Of having, not only that
province wrested from his grasp, but losing Hun
gary Also He relies upon his re cent concessions
to keep Hungary quiet, and upon the assistance of
the German States in protecting the frontier of the
Tvrol. OF what avail, even under such circum-
stances. would it be to attempt 10 defend Veneta
at the expense of so much blood and treasure ?
GAa1BALD1 has called up spirit in Italy which
cannot be exercised but by the expulsion of the
hated Tedeschi, and the consolidation OF every
fragment of the former sovereignties into one
great and populous and powerful kingdom FROM
the elements that are still at work, and from the
antagonism that must forever exist between Abso-
lutism and Liberty; from the known tenacity with
which the House Of Hapsburg clings to old formu-
las and ressts the recognition of ideas and princ
pies in accordance with the spirit of the epoch,
the fear s general that the peninsula Of Italy, s to