The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-07-02
THE GRAND MILITARY RACE FOR DIR EsDEN.

ing he plan OF the campaign during the last three
days On saturday he had long interview with
General Won Setback, who commands the 4th Corps
d,Ay1nee, ana Prince Auguste, of " urtemburg, VINO
Afterwards gagged TOR sev eral hours with General
Won Room the Minister OF War, when Generals
Molke, Von Alvensleben, and Won Trcskow were
also present OF course nothing that passes at these
secret meetings ever ekes out but general impress
SION is floating about day that in the event OF
beng declared it IS expected that Austria will attack
Slesia. This step would almost drive the Prussians
TO advance on Dresden and thus Austria would cast
upon the Cabinet of Berlin the odium Of being the
first to invade federal territory.
1t is believed that immediately the Prussiaa van
crosses tie front into SaXony, the news OF its ad
vance will be telegraphed to General Benedek's
troops on the Bohemian frontier OF saxony, and
there be any foundation for this impression, the
race to Dresden will be close one. The Prussians
will in all probability lie taken by SaxonY TO allow
part at least OF the Austrian army TO travel by
railway, the Austrian advanced guard has good
chance OF fl st gaming possession of the Saxon capi
tai II is quite natural to suppose that Genera
and southern Brandenburg, both because the line
retween tho Bohemian frontier and Berlin, his pro
bable objective point is shorter by that route than
by II esa, and he is laid to be desirous of
taking advantage of the flat plans of Saxony and
OF the Upper Spree Tor the action of the much
vaunted Austria q cavalry.
MONEY DIFFICULTIES IN FLORENCE
Florence (Jtne ~ Correspondence of London Ne,0s.
he natter of the bank note difficulty is still caus
ing infinite trouble and di'content The way IN
which the peop endure the annoyance and the
loss ing really marvellous, and taking the
motive of their orbearance into consideration, is
truly admirable. Indeed, the evil grows worse.
his morning the small notes were at seven per cent
and not to be had at that price. In former letter
spoke very severely OF the conduct Of the Govern
ment in this matter. But a long conversation
the subject with gentleman high in office has led
me to believe that the shoricOming of the Govern
ment does not 90 beyond the faults of negligence,
nexpeTtness, and improvldence.
The dreadful loss which has lallen on the commu.
nj y, and all the suffering which has been oned
to have been due the conduct the National
Bank and not to that OF the Government The latter
lin very great and inevitable hurry concluded
bargain with the bank by the terms Of which it was
provided that the after should lend the Governm
should issue notes to this amount freed from the
OBLIGATION OF paying them in gold that those notes
and that the bank should be paid interest at the rate
of one and half per cent. per aDnum only. No
word of provision was made for the due supply of
the circulating medium when 1t should come to pass
as OF course 1T must have been known that 1t
inevitably woud come to pass-that the gold and
sil er shOu obey tie law OF their nature in the
of such enactment as t1at just named, and dlsap.
pear.
No control wi atsoever was reserved to the Govern
meDt over the mode or nature of the emission of
notes. And the bank has acted IN the matter with
most perfect disregard of the interests the coun.
try, and the most cynical iDsenslbihty to any con
sderaton save the interests OF Its shareholder And
rich mag dsd the ph as Sa
was acting according to the true princp or bank
1eel that it bao done But the dscredIt which 1t
has thrown upon the Government has been very
great indeed, and very n'lschieyous.
From the ReUue des DeuC MondeS, of Paris, JUN a.
The Ita laus say that armed peace ex-
hauts them; but war would exhaust tnem still more.
Have they in fact the means of carr, ing il on? Not
that they are deficient in courage or dlscpIinej on
this point am persuaded they would do their duty,
and pursue an honorable career; but the material
resources required for var are wanting to tham
The truth winch pc pies as well as kings should be
resigned to hear is that the Italians, who ha dis
played admire abe spirit before being united INTO
one single Stale, have no been the same since they
have formed only one realm from the M,ncio to the
southern extremity ofthelormer kingdom o the Two
Sicihes. The wisdom which had beel remlrked in
them until then has experienced a tota &c ipse
one essential polnt-the fnances. hey have not
known how to frame q budget, and have accLmu.
lated deficit deficit
While the most able tinanciers are unanimous in
declaring that loan is a resource which ought to
be reserved for a time of war, the Italians have
contracted In times of enormous foreign ones,
tasts OF Paris who have enguifed their SAVINGS in
them. They. have been totally wanting ID resoiu-
ton ralse by taxation receipts adequate to their
] expenditure or to reduce their expenditure to the
level OF their possible receipts his grave fault, of
which at present they perceive the tull magnitude,
| is moi mputable to their Ministers of Finance. NJ
eelia frankly recommended them 70 impose taxes
themselves NJ. scialoja has repeated with all his
| Iorce similar sa ulary recon nendations but they
| closed their ears until too late. Thev have given
tences, and nounshed themselves vito reminis-
| cences of the Roman republic to-day Ous Of
| season.
Like the Roman Senate, which, after the bate of
Canne, sold by auction the ground on which Han
niba was encamped, they thought they would give
l
boldly their property Ven ce and the famous
Quadrila' eral by which, in the judgment Of the
| most experienced men and of their most sincere
| friends, they have ruined their situation. Is, these
il cOnsde rate they have irritated enemy
was their interest to appease, that entered
upon a course OF concilla ION they would have me-
gohated and treated for the cession OF Venetia on
| equitable conditions, for which, when a parties
were cool, an understanding wOu very likely nave
| been possible.
The Money Crisis.
| REPORTED EFFECT OF THE ENGLISH PANIC ON
l NM A n N Al IN
| EUROPE AND THE GOLD MARKET IN WALL STREET.
From the London Globe (Eveni,tgj, June 13
| The monetary crisis in London of May 10 and IL
| was aTtially echoed in the United States on the
| arrival OF the Cuba at Halifax on the 2l3t The
return mail brought two accounts OF the first enee Is
| or American trade, which may be rel'ed upon as
| coming not from En9lish visitors who wou be
likely % gain only a superficial knowledge of such
sudden events, but from independent American
| winters, whose close agreement IN nara ion OF
facts Is good guarantee OF their corree ness Both
| letters bear date May 20.
we have also kilograms up to June2 1t appears
that in the course of three da upwards OF two
mi lions sterling gold were shipped for Englan I,
that IN the course OF q fortnight the whole amount
exported not less han four millions, and that
duiing the mo nth of Nay nearly SIX millions had
lett the country. No wonder the premium on gold
4 rose fast Before the delivery OF the news brought
b. the Cuba the quotation was L29 or 1905 this wa
on the morning of Monday, the 2lst. On the 1ol
LOVING "Wednesday the price was 139, and on FRIDAY
141 from which 1t has not fallen This occurred
Notwithstanding great efforts on the part OF the Gov
ernment 20 check 1T by sales OF bu hon TO the ex
tent of millions sterling. There IS always
large amount OF gold accu umulaung In the Treasury
| and the secretary habitually employs his command
of it to prevent as lar as possible fluctuations II
the Iremium.
Inc wors among the many mischiees o an inflated
paper circu alton the disturbance of foreign con
tracts, which is occasoned by variations the 1c(
| OF 90 d. An American merchant having TO Femi
| n IoV. aNih no mi