The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-08-23

bold and audaoious Bismark was dreamed of.
Let us briefly consider it.
In the 6rst place, with the exception Of the
Lombardo-Venitian kingdom, which goes TO
Italy, the Austrian monarchy remains intact.
This was q generous concession to Austria, for
from what follows It is apparent that Bismark
had the whole empire at bis disposal By the
second article OF these preliminaries Austria
recognizes the dissolution of the Germanlc Con-
federation rs it has hitherto existed, and gives
her assent to a new Northern organization, with
her total exclusion from 1t. The Austrian En-
peror also consents 10 the proposed Northern
Confederation under Prussia, ana TO a separate
union of the States south of the river Main,
whose national bonds with the Confederation
of North Germany will form the objects of an
ulteTior understanding between the two par
t1es." The plain English of this is, that having
absorbed all the States, Duchies, ETC.. north of
the Main, Prussia, at her own convenience NAV
take all south OF said river, Austria having eX-
cluded herself from any further voice IN the
matter. The plan of absorption thus provided
for, when carried out, will give to Prussia the
control OF some thirty-fve or forty millions Of
Germans.
But, again, the Emperor of Austria transfers
to the King of Prussia all his rights and claims
to the DuchIes of Schleswig Hostein, with the
reservation that the people of North Schleswig
snail be again united to Denmark if they so eX-
press themselves in q vote freely given. Bis
mark, prohting by the lessons of Napoleon in
this business of popular suffrage, will doubtless
know how to manage this election. Here, then,
will be another important annexation of terri
tory and population to the strength Of Prussia;
Tor she Will gain with the seaports and coast of
Schlcswie-H Holstein something far more valuable
than their lands and people. Yet again, Aus tria
agrees TO pay, in excess of all dra wbacks on &C.
count of her Schlesw -Holsten expenses, the
sum of twenty millions of thalers towards
Prussia's expenses of the late war, and further
agrees that Bismark may dispose of the king
dom OF Saxony and levy upon it his war contrI-
buttons OF his discretion, and so on to the end
of the chapter.
Such are the preliminaries of peace agreed
upon between these high ontrscting parties.
In three weeks the armies OF the two Princes of
Prussia have accomplished far more for her en-
largement and recognition among the great
powers Of sEurope, than was achieved by
Frederick the Cheat in his famous and success
full seven years. war. Within twelve months,
Bismark, from the reputation of self-willed,
despotic, and foolhardy Prussian Prime
Minister, has risen to the high distinction of
the ablest diplomat and the foremost man in
Europe. Under his bold and sagacious man
agement Prussia has advanced from the posi-
ton of second-rate State to that of the com
manding power in Central Europe. Strangely
enough, too, the Continental equilibrium, in
view OF the future peace of Europe (provided
always that Napoleon's present professions of
peace may be relied upon) with this imperial
enlargement OF Prussia, is fixed upon much
better foundation than that contemplated by
Napoleon himself. France is aggressive, and
requires to be held in check. Prussia, as now
about to be constituted, will serve as a barrier
AGAINST the amDluOuS designs oil Imperial
France. There will be little TO tear, on the
other hand, from the non aggressive character
of the Ge1mans but much TO dread from any
hostile enCroachment upon their domains, with
their strength consolidated under what may be
called the Macedonian military system OF Prus-
sia. The success of Prussia in the humiliation
of Austria is to some extent triumph OF modern
ideas and progress over the ideas of the old
etlete teudal system. Europe takes another
large stride forward on the road to popular
rights and Institutions although another shak-
Jag up or two OF the Continent may be required
TO bring about their full development.