The New York herald., 1867-04-24

Our cable news for the last few days relating
to the Franco-Prussian difficulty has been in
the last degree exciting The Luxemburg
question, which has lowered into huge proper
tions, has been the all-absorbing topic of dis
in London, in Frankfort-stocks have been
rising or falling, according as war appeared
more or less imminent. One telegram informs
us that war is inevitable and that the money
market is dull The next telegram encourages
the hope that peace may be preserved and
that the money market is more buoyant Thus
day after day has suspense been maintained
and anxiety deepened.
As the case now stands it may be thus
stated: The Emperor Napoleon is determined
that Luxembourg shall be q French fortress, at
least that it shall not be Prussian; Count Bis
marck is determined that Luxembourg shall be
German fortress under Prussian control, at
least that 1t shall not be French, and the other
great Powers, anxious to preserve peace joint
ly, propose plan by which the diff
Guilty may be got over and peace pre-
served. What that plan is we have not been
told. We only know that while Napo-
leon is willing to accept the proposed
arrangement Bismarck disapproves of it.
Peace yesterday was almost despaired Of
and on the London Stock Exchange the ten
dency was to financial panic. A late cable
despatch which we print in this mornings
Marshal Mcmahon, Duke of Magenta, from
Algeria, and that all furloughs are to be ended
and the reserves drilled. Negotiations had
not been broken off, but war preparations on
both sides were being hurried forward with all
possible rapdity. So the matter now stands.
gerce that the difficulty has been got over, or
that the two largest, best disciplined and best
equipped armies OF modern times have met in
mortal conflict, and that war is raging on the
ancient battle field of Europe.
In the absence, however. of positive evidence
to the contrary, we are unwilling to believe
that the mediation of the other great Powers
will be in vain The os.ensible question at
issue is not OF sufficient Importance to justify
war which, if once begun, is all but certain
to sweep, confagration-like, over the length
and breadth of Europe, and to prove more
All fire is destructive, but oil fire is not
purifying II is the same with war. Some
wars benefit while they destroy but some
wars are destructive only. There is no
doubt q question Of right involved in the
Luxemburg affair; but in the interests Of man.
kind at large 1t is a matter Of comparative
insignifcance whether the fortress shall con-
tinue to be the property of the King of Hol-
land, or remain 10 the hands Of Prussia, or be
banded over 10 France. The inhabitants OF
the duchy are the parties most Immediately
interested; but war, Fit be commenced, will
neither be begun nor carried on in their
interests nor viii thsir wishes in any way be
advanced by the Feesl. whatever the result
may be. :. ~ 80. - -S''''--
What chiefly lends interest to this dnestl on
and invests it to certain extent with world
wide Importance is the bearing which II has
on the relative chances Of success Of the two
great political schemers Of the age The game,
which is yet far from concluded, has been long
and keenly played. How II is 10 end il is cx-
tremely difficult to say. The probabilities are
30 numerous that he would be bold man
who should venture to tell beforehand on
which side victory was TO lean If Prussia
and France should 90 TO war on this Luxem-
burg question, 1t may hasten the final issue. II
this difficulty is got over and peace maintained
for the present, the issue may be delayed, but
the diplomatic struggle will not the less con-
tinue. Prussia and France have openly assumed
the attitude Of antagonists; on both sides feel
ings have been embittered and passions
reused; nor, so long as Napoleon and Bis
marck preside over the respective nations, do
We see how . collision Is TO be ultimately
avoided. War alone can determine tho rela
tons which new Germany and old France are
70 sustain 10 each other. Sooner or later war
will be felt TO be q necessity. But this Lux
emburg matter is not casus beR which public
opinion will sanction for the present or history
justify in the future.
We conclude ~ We began. We are unwill.