The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-02-23

ana OF Ooth sections thereof; she would thus
\ ehectually checkmate the transatlantic designs
Of England, dependent upon the dissolution of
THIS Union; and she would place our govern
ment in position to extricate the Emperor
from his present perilous position in Mexico,
upon political, commercial and financial ar
rangement satisfactory and advantageous to
France, the United States, Mexico and the
world at large. Above ALL France, in the re-
establishment Of peace on this continent, would
ward on that impending European convulson
which is beginning to cast its dark premonitory
shadows over the Napoleonic dynasty.
| The rebellious States of the South in their
| compulsory return to the federal Congress
through this Intervention of France, would be
abundantly compensated. They would be i'm
medately relieved from the terrible privations,
sufferings, co Inscriptions and extortions which
they are now compelled to endure their stocks
on hand of their last two years crops of cotton,
sugar and tobacco would be at once brought
into hungry market; the Southern slave
holder would be at once rescued from the ter
rors of President Linooln's emancipation pro-
| clamation and an abolition crusade Southern
institutions, society and industry would be
restored to the protection of the constitution !;
| but greater than all these compensatiOns
would be the advantages gained of a conser-
vative control, through Congress, of the general
government If all the Southern States to-day
were fully represented at Washington the
abolition faction would be utterly powerless to
do any further mischief; but, with the new
guarantees of future security indicated in Mr..
Stewards proposed convention. there would be
absolute safety to the South in the government
against all future contingencies
There are yet other considerations which may
contribute to turn the mind Of Louis Napoleon
to mediation upon the basis of Mr.. Stewards
Congressional plan Of peace. The rebellious
may be overrun and laid waste by the superior
military power of the Unon or the war may
be indefinitely prolonged, to their utter ex-
haustion and destruction, cotton and tobacco
included. This reflection alone may satisfy
Louis Napoleon that the rebel leaders are not
in condition to hesitate in accepting his friend
ly interposition for peace. As for our own 60
vernment, it would hardly refuse its consent
to European mediation upon the basis suggested
by the Secretary Of State.
We are not surprised that the subject is at
tracing the attention of the diplomatic circles
at Washington nor shall we be surprised if,
within few weeks, the news shall reach us
of the other great European Powers, adopting
the hint of Mr. Seward, had determined upon
mediation for peace in America to the extent of
compelling our rebellious States to return to
the Congress of the Union. We think that our
information from Washington foreshadows a
deliberate diplomatic movement in this di-
rection, and that Louis Napoleon, in order to
reopen trade with the South, and to circum-
vent the Interior designs Of England, and to
| extricate himself from Mexico, may probably
act upon this idea and in mastery coup d'etut
| put an end to the disturbing Southern dcspot-
ism of JEFF. Davis and his impracticable Southern
confederacy.
The INsURREcrioN IN POLAND.-The latest
advices from Europe go to prove that the rebel
lion of the Poles against Russia is much more
formidable than was admitted by the Russian
authorities. We now hear of desperate battles
taking place, and, although we are told that the
Poles were defeated, the assurance comes from
Russian sources, and may be accepted with re-
servations. 1t is evident the people of Poland
are determined to resist the rule of Russia and
tlat the struggle will be hard one now that
they are fully reused. The consequences will
most likely be fatal to them, rs the resources
of Russia are enormous; but to Europe the
Polish insurrection may be productive of i'm
mense results.
The revolutionary spirit so rife throughout
Europe will be melted by the struggle. and the
example may be followed elsewhere. In Hun
gary the people are pining to throw off the yoke
Of the Hapsburgs; Italy wants Rome In Prussia
the people are angered by the stubbornness of
the old King, while in France the masses, with
a natural tendency to revolution, are easily
reused to its accomplishment by such an exam
pie as now set them by Poland Napoleon
is we'll aware Of this and he will most likely
be swayed in his policy by the Polish insurrec-
ton. He will feel how dangerous it Is for him to
continue in his schemes against this country and
Mexico, and will most likely seize upon any op-
portunity 10 make terms with Mexico and bring
about peace between North and South. He
understands that TO him sustained revolution
airy movement in Europe is destruction should
he be too much occupied out Of bis own empire.
Thus the Polish insurrection may have mo-
mentous influence even in this country. We
shall await its development with considerable
interest
THE Rebel. LOAN or CorroN BoSDs.-We
see by the news by the Canada that several
French capitalists have offered to negotiate
loan for the Confederate government Of five
millions sterling, or twenty-five millions Of
dollars, on the basis Of cotton at ten cents per
pound, the holder having the option. after a
certain period. Of exchanging his cotton for
\ Copfp,lrrcla bonds nj seyeptv hca ring eight