Year: 1859

In the great struggle now pending in Italy be-
tween France and Austria, France would appear to
have a very decided advantage on the score OF pc
cunisry means, which, as every body knows is one
of the main supports OF modern warfare. The call
for loan, nOminally Of hundred millions Of dol
lars but in reality, at the rate tho stock is taken,
of sixty millions OF dollars at five per cent interest


has been very enthusiastically responded to by the
French people, nearly five times the amount asked
for having been subscribed, very considerable
part Of il in sums Of two hundred francs, or about
forty dollars TO each subscriber 1t is not. how
ever, we imagine to be concluded from this, as
come Of our cotempOraries seem to suppose that if
Napoleon, instead Of asking his subjects for five
hundred millions of francs, had asked them for two
thousand millions be would have got it just as
readily People are generally profuse in their
ofeIs to lend just in proportion as they know that
these offers will not be accepted. After
the amount called for had been subscribed,
it was quite safe as well vastly patriotic in the
great Paris bankine-houscs and means, too, of
recommending themselves to the Imperial favor, to
double and Quadruple their subscriptions, and in
this way obtain a reputation for cash at COM
mand, for loyalty to the Emperor, and enthusiasm
for Italy and France, at a very moderate outlay


Moreover, the holders of French stocks had every
iDducement, for the sake Of their own private in
terest to carry up TO the highest pitch this SEEM
ing struggle for the new loan. They had already
suffered very heavy losses in the continued depre-
citation of the French stocks TO the amount Of
twelve per cent or more since the war became
probable The only chance TO put stop TO this de-
probation, and perhaps to Restore to their old
stocks some part of the value they had lost,
was to put good face on this loan. 1t does
not by any means follow that future calls for
money, especially if the progress of the French
arms should be slow and dscouraging, will be met
with the same zeal and readiness.


The Austrian Government on the other hand, not
able to count the voluntary assistance either Of
capitalists of the people has been obliged to get
its first hundred millions by authorizing the issue
of go much inconyertible paper. Austria, how
ever, has one resource not available to France,
and which she seems resolved to push to the
utmost point it will bear. She appears to have set
out with adopting the old policy OF the French Re
public and of the first BOnaparte, of making the
war support itself Such, as We have already sug-
gested, appears to have been tho real object, at
least, the primary object of the advance across the
Ticino. Though the Austrians have been pre-
vented by the state of the weather from striking
any blow, as hsd been expected at the Sandman
army, the Sardinsn capital, or the Sardinisn
fortresscs at least, they have swept. and that too
without encounterins the least resistance, the
whole eastern plain of Piedmont, as far west as
the Dora Baltea, by far the most fertile and
productive part of the Kingdom of Sardinia, sp-
propris.ing to their use its grain its forage, its
cattle and all its other supplies which could be
usefn to an army. The rapid influx of the French
troops having made it necessary for the Austriaas
to give over their advances and to assume the de-
fens;ye, the Notifications which they are throw