The New York herald., 1867-04-08

Yesterdays cable news relating TO the stua-
ton Of affairs in Europe and the continued
prospects Of peace cannot be said TO be re-
assuring. The Luxembourg question after GIL
does not appear to be settled. Holland Is evi-
IDENTIFY in strait between two With Napoleon
pulling in one direction and Bismarck pulling in
another. the position Of the little kingdom Is
aaything but enviable The Duchy Of Luxem-
burg formed part of the now obsolete German
Confederation, and the King Of Holland, In vir-
tue Of his title Of Grand Duke of said Duchy,
was entitled to seat in the old German Diet.
Laxemburg, conc erning which the present dim
Guilty has arisen, is q fortified frontier town
situated in the Duchy of the same name. Since
the close of the late German war Count Bis
marck has rather imperiously insisted, without
any regard to the wishes or interests Of Holland,
that the Duchy, with all that sppsrtains to it.
should form part Of the North German Confsd-
Grafton, and be specially under the control Of
Prussia. Napoleon, on the other hand, has
very naturally encouraged Holland in her not
unreasonable opposition to such demands. and
more recently. it appears, has proposed or
the Fortress of Luxemburg should be per-
maneniy ceded to France. Some hitch, it is
manifest has taken place in the proceedings
A few days ago. it was announced that the
negotiations had been suddenly stopped. Yes
terday's telegram informed us that the Emperor
was hesitating to release Holland from her en-
gagements. Luxembourg, il is clear. is the
stake which is being Immediately played for.
Holland cannot retain it but with the joint
consent of Prussia AMI France. Whether Hol-
land will be allowed to retain it, in the char
acter of a neutral, or whether the rightful
ownership will be determined by recourse to
arms remains to be seen.
In Great Britain the Reform Leagues are
mastering their strength quietly, but with great
efficiency, for grand contest with the aristoc
racy at the polls during general election. A
cable telegram informs US that the Parliament
ary liberals and radicals. under the lead Of
Mr.. Gladstone, have resolved to give the Derby
Reform bill, lately expounded by Mr.. Disraeli
in the House Of Commons, a most determined
opposition. and bring the question TO test
vote division as soon as possible. They are, it
is said. confident Of obtaining majority ad-
verse to the Cabinet, in which case Earl Derby
will tender his resignation as Premier to the
Queen. This event will most likely iesd to q
general election by dissolution OF the ,Parlia-
ment all over the three kingdoms, and gen.
eral election held Just at the present moment
may induce political results ofa character most
serious for England. The general debate on
the Reform bin commences this day.
Meanwhile, what with complications Of war
like character inthe West, and complications Of
much moro serious character In the East IL is
not much TO be wondered ct that the far-seeing
and the interested should begin to tremble, and
that distrust should make itself manifest in
political and financial circles. How Napoleon
must detest this ilktimed and apparently i'll
starred Expositionl tsms o.