The New York herald., 1866-08-07
New Enropcnn Scttlcrnenf-France Neutral
szed nnd Russia 60 be Held in Check.

New inropcnn Settlement France Neutrnl-
ized and Rnssia 60 be Held in Check.
When Louis Napoleon, at Biarriz last au-
tumn. entered into his confidential arrange
mcHts with Bismarck for the reconstruction of
the map of Europe, he little dreamed that the
then comparatively unknown Prime Minister
Of Prussia would prove to be the master of the
situation. Napoleon doubtless had calculated
that in coming 70 blows Austria and her Ger
man contederates would be at least match
for Prussia and Italy, and that the Intervention
Of France would be necessary to bring the war
to q conclusion. He would then, tor his ser
vices as mediator, or as the balance of power
in the war, secure his compensation from Prus-
sia Of the left bank Of the Rhine, and from
Italy, Of the island Of Sardinia, or something
better, as little viceroyalty for his amiable
cousin, the Prince Napoleon, the son-in-law Of
King Victor Emanuel. This was Q neat
Napoleonic arrangement; but 1t has been COM
p;etely upset by Bismarck and the wonderful
skill. activity and military superiority in every
way developed by the Prussians over Austria
in the late remarkable campaign from Dresden
TO the Danube.
In this compaign the astonishing successes
Of Prussia have 30 thoroughly broken mp poor
Austria and her German confederates as 70
place Bismarck in . condition to dictate his
terms Of q settlement, both in respect
to Germany and Italy, regardless Of
the programme OF Napoleon. Thus it
appears that in tho peace prelimlnaries
agreed upon Austria is 10 withdraw from the
Germanic Confederation, and is 10 lose venetia
and her interest in Schleswig- -Holstein; that
she is to pay ten millions to her adversaries as
expenses Of the war, and that the German
States north Of the Main IRE to form an inde-
pendent union, while those south of that river
are to form another. A settlement upon this
basis, which we expect will be made with or
without the consent Of Napoleon, will make
Prussia at least q match for France as one Of
the great Powers Of Europe. The Northern
Germanic Confederation indicated, in one word,
for all purposes Of war or peace, will be Prus-
STA. Then, too, from the fact that II will be q
compact Protestant confederation, and from Its
family alliances with the royal family of Wind.
cor Castle, Prussia hereafter, as against France,
will become the natural and efhcient ally OF
England. Thus Il will be seen that while
leading British statesmen and journals have
been blindiy sympathixing with the cause Of
Austria, Bismarck has been doing more for the
maintenance Of the power Of England in Euro
pean affairs than ell that has been accomplished
by her Cabinets, fleets and armies since the
battle Of Waterloo.
In the new settlement foreehadowcd in the
arbiter Of Western Europe, for France Is neu-
tralized by Prussia This is not the equilibrium
anticipated by Napoleon; but II Prussia and
Italy can secure their own terms without his
assistance, he will be apt TO find IL expedient
to let them do so. In 1859, when he had
pushed his victorious army into the Austrian
Quadrilatcral, he paused and made half way
treaty Of peace for Italy, because the war at
that point threatened 10 assume larger proper
'ions than he was prepared to meet. So now,
il victorious Prussia aud Italy shall agree
between themselves that his horse-jockey
claims upon the province Of venctia, arising
from the cession of II by Austria, shall be dis
regarded, and that the temporalties Of the
Pope must fall into the kingdom Of Italy, II is
probable that Napoleon will discover that the
time has at last come for the withdrawal OF his
troops from Rome. The reconstruction of
Western Europe, in this general view, will
settle the Roman question by reducing, or
rather by exaliins, the Holy Father to the
unmixed control Of the spiritual affairs OF his
Church, and will mako the young kingdom Of
Italy sufficiently powerful to stand without tho
pssistspcs Of Napoleon, while In lhe North. the