New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1861-03-14
EUROPE I'm 1861.

Everybody las been so confidently predicting
and preparing for tho great European war, which
was to break out early in 1861, that it now
seems likely that no war will arise. France,
England, Prussia, Italy, and even Austria in spite
of Der bankruptcy have expended millions 10
preparations for a struggle that this very prepar-
aton preclodes Russia is absorbed in her ill.,
tcrnal contest and the emancipation of her serfs,
so often promised, is still postponed. 1t seems
probable however, that the ukase will issue and
take effect during the current month. The re-
port that the Gar lie leagued with the new King
of Prussia to crush out Hungarian liberty when
ever it shall place itself in open hostility TO Aus
trian deapotlsm, and that which affirms that he
Is ready TO pouuce upon ConstantinOple the first
moment he iancies he may do 80 with IMMUNITY,
seem both mere guesses based on intrinsic prob
abilities rather than authenticated by facts.
The state OF Hungary is anomalous even in
Der strange history. All agree that the Austrian
authorities are dcGed and the taxes almost
wholly unpaid; yet the Emperor hardly ventures
to speak daggers much less use them. Ii the
apparent reconciliation of the Croats, Trausy Iva
mans, ETC., to the lead Of the Magyars prove
hearty, it will hardly be possible to reduce Hun
gary alresh to the abject vassalage produced by
the treason of Gorgey aud the incorporation OF
Russia. But Austrian craftsmanship is fami-
lar with the old maxim, "Divde and conquer"
that wo cannot regard the future of Hungary
with confident hope. Possibly, the blazing braUd
of GarlbaIdi, flung with apparent rechIessness
into tho midst of the Hungarian magazine mey
causo On explosion which will shake the cent?.
nent.
The recent semi-official expose of the Italian
question by tie inspired oracle Of the French
LWpsror proves beyond cayil that Louis NaPo-
Icon has 10 Italian polcy-that he would gladly
have prevented the add.tiO of Naples and Sicily
to the Kingdom OF Victor Emanuel if he could;
and that be busies himself in hand-to-mouth ex-
pcdc0ts because he sees not how TO do better,
aud lives in hope that " something may turn up"
On one point, however he seems to be resolved
the overthrow of the temporal power Of the
Pope. We may, therefore, expect, on tho first
decent preteHt, his order for the evacuation of
Rome by his troops.
But the fall of Mrts il the great event Of The
last month. This Jcw broker and Spectator, of
questionable antecedents and undeDiable poverty
aud LsgDiicanco barely ten years Ugo, having risen
with the Napoleonic balloon, has for some years
been yeritable pOwer-an engineer of vast
financial operatioDs--the banker general of the
French railroads-tbe owner OF leading aud infu-
entail journals-the intimate Of Ministers and
Princes Of the bloOd-aud lastly, the contractor
for great Turkish loan. Rulnor speaks Of
enormous brides given BY him 10 persons stand
ing next 70 the Emperor for services rem
cered-nt least, required and paid for. At
length, the hour Of his downfall strikes--be must
have money-t'c Bank of France ia required to
make him heavy advances; it cannot or viii not
respond; then the Ministry is told that the En-
pre cannot afford to let him 60 down-the En-
pcror vetoes the intimAtiop; he is proclaimed q
bankrupt and q swinder, arrested and sent to
prison; hi. debts are stated at one HuRdred and
Teenty Millions Of Dollars; the Bank of France
and the Railroads are enormous losers, the crash
is sorely felt at Constantinople, where bis pro-
tested acccptances make general havoc; while
in Paris the journals are forbidden to speak of
tho catastrophe, whereby tho magnitude of
the disaster is at once confessed and proclaimed
to the world. My: the implication Of exalted
Percentages with the ruined Spectator is held to
be established BY this enforced silence; and all
tongues ask, "What next Can the Credit
" MoJiiier survive the shock Can the Bank
" maintain Specie Payments Louis Philippe
." was oyerthrown by one such disaster: can
" Louis Napoleon withstand more than one :"
Aud SO q fabric that has deied foreign force
AID deadly domestic hate seems likely to sue
cumb TO the dry rot Of corruption in high places.
May not great war bo deemed BY the Emperor
. political necessity to distract attention from
themes 70 bnlolul