Des Arc citizen., 1866-03-31
EUROPEAN WAR IN PROSPECT.
Despafch of Prussian Catipaatam 70 Austria-Austria 1Natst Etther Yield or Fight.
From the London Owl, March 8.

A German cri sis is imminent The Prussiari Government has despatched to Vienna sum- mons in respect to Holsten which is as pre- cmptory in it's tone as its demands. Bismark is ready to face war and it's consequences Austria must at once take up the gauntlet or yield the pretensions of Prussia in some what ignominious manner.
 From the London Standard March 6.]
 crisis is approaching in the relations between the two great German Powers, from which there are but two issues-war between the condon,iai of the E1be duchies or another surrender on the part of Austria. The Prus- sian government has used the power given it by the Gastein Convention to make Schleswig practically its own. It now wants to finish with the matter, and formally annex Holstein and Schlesyig But this project meets with stubborn resistance from Austria. The Aus trian government has no particular views of it's own with regard to the duchies. It would like to dispose of them in some way by which it could at the same time turn an honest pen ny, increase it's popularity in Germany and balk Prussia. But it does not see how to at tain this grand result, and all it can do is to offer as much opposition as possible to the Prussian projects partly in the hope of defea- ting thenl partly with the idea of compelling Prussia to pay higher price for it's ultimate compliance if compliance should be found necessary. The Prussian government eyiden- tly means to risk war, if only war will bring Austria to reason. Count Von Bismark has clared his decks for action. He has got rid of his Parliament. He has assured himself, or at least fances he has assured himself of the neutrality of France and Russia He has money enough in the treasury He has good provision of all necessary stores, and thanks to the reorganization, he has large army i'm medately available to whom he could offer no more welcome opponents than the Austrians. He is in better condition to deal with Austria than he was last summer, when he exhorted Lauenburg from her by an ultmatum.
 The question is, what will Austria do? Will she yield, as she did last summer, or will she fight? There can be no doubt what the Elm peror and his Court would like to do. The Gastein Convention was bitter humiliation to them, and the effort begun soon after to regain Hungary was dictated in no small part by the desire to restore the strength of the empire so as to enable it to resent the arro- gance of Prussia. But good as the will of the Emperor to fight may be, great as are the re- sources of Austria. can any one believe that the Emperor is at this moment in a position to risk war with Prussia and above all to risk it for so small matter The battle would have to be fought now against much heavier odds than it would have been last summer. We do not apprehend any disturbance of the peace of Europe, because we cannot believe thot Austria will risk war, and the next phase of the Schleswig- -Holstein question will, there fore, we are convinced, be the practical com mencement of Prussian rule over both duchies