The Southland Times. FRIDAY, SEPTEMBER 21, 1866.

Southland Times, Issue 566, 21 September 1866, Page 2

The Southland Times. FRIDAY, SEPTEMBER 21, 1866.

The present is an age of wonderous achievements. The news by the European mail supplies matter for deep thought and meditation. The statement that the European war was terminated took everybody by surprise. It was generally known tnat Prussia had been long preparing for the conflict ; that her army was well disciplined, but few imagined that proud Austria would in a few short weeks have been huinitiatingly defeated, and compelled to Bue | for peace on any terms. This event, it is said, arose from the powerful effect of the " needle gun " of the Prussians, a weapon stated to be intensely more destructive in its operation than any instrument of war, ever before employed by The power of this gun would seem to be great to a degree that would tax the imagination of all but eyewitnesses to conceive. The military correspondent of The Times, in writing upon this subject says : — " to the invention of this new arm the commencement hostilities by Prussia may be attributed. It would appear that Bishabck was so confident of the superiority of this weapon to any which his opponents possessed, that he was more than ready to stake the interests of his country upon a conflict in which its effectiveness should be demonstrated. He had, it seems, been impatient for the opportunity to prove it. The issue has justified his conviction, and has added another to the instances of success to which he can point in proof of his sagacity. However, we may regret the success of his schemes, there is no denying it." Is the war at an end ? Does the cessation of hostilities give any reason for a belief that the European complications will be dissipated without a general conflict ? To our mind this appears next to impossible — the Emperor of the French has appeared on the platform, and is evidently determined to play a conspicuous part. "We can now estimate the value of Louis Napoleon's pretended neutrality. It is apparent that there was an understanding between the French and Prussian Governments, that France was not to interfere in the Q-erman war, unless Prussia should gain so great an ascendancy, as to destroy the " balance of power." Prussia has been successful beyond the expectation of the most sanguine ; Austria, is in a measure crushed, and the Emperor of the French having played the double game of receiving the Protectorate of Venetia from Austria, which doubtless he would have claimed as his own had the Austrian arms proved victorious, now ' boldly claims from Prussia as his price for remaining neutural is the Ehine Provinces. Will the other great powers of Europe permit any such arrangement ? We cannot conceive it possible that they will. Both G-reat Britain and Eussia are interested in preventing the completion of the contract, and it is almost certain that those nations will oppose, it being ratified. "We cannot view, with any degree . of complacency, the patched up peace, of which we are informed. To our minds it is one of those eastern calms that indicate the coming of a more terrific storm. We must however, wait with patience to learn the result. The sea of British politics is troubled. The rejection of the Etjssell-c2«»-G-la"d---stoxe Eeform Bill has caused great excitement in England. Monster demonstration meetings have been held, and riots of a serious character have taken place, so much so that the Government were constrained to suppress the holding of public meetings in the parks of London. The indignation of the people at the rejection of the extension of the franchise enactment is subsiding, and although a Eeform Bill is certain to be passed, the Continental difficulties will have to be overcome before such a measure is again debated in the House of Parliament. ' The news received, commercially speaking, is of a more encouraging character. The Bank of England discount remains the same as last month — ten per cent., and further failure are reported, the Birmingham Banking Company and the Preston Banking Company being the chief, but the general tendency is favorable. The fact that the Atlantic Cable is successfully laid is the bright spot that illuminates the dimness of the other news. The fact that telegraphic wires now almost encircle the whole world is an event at which all must rejoice. The copious extracts from English papers, and the late telegrams we have published, renders further comment on our part unnecessary.