The New York Herald Newspaper, February 4, 1856, Page 2

2 = have, in the eatin, a pocitation, in saying foreign tale: here t wo ghe considerably that or tacue artivte. endiin F. J. 6. THE PEACE RUMORS. ‘The First Reply of Russia to the Allied Pro- (From the London Post, Jan. 14.) ‘We can state with confidence that the Russian reply to the Austrian ultimatum has been received at Vienna. Russia rejeots the seeond clause of the first proposal, vis.: the ** rectification of her frontier with Turkey.” She alvo rejects the fifth proposal, by which a right of jucing specis! conditions ia reserved to the t rs, apd im virtue cf which they would demand the yagement not to rebulld Bomarsund. ia accepts the rest of the ultimatum, including the neutralization of ihe Black with some modificat In exohange for the strong places and territories cecu- gina by ‘the alles, Russia yroposss ‘to restore to the Porte spd the territories «! won from from Turkvy jw Asia in the last campaign. We have reason to believe that Austria keeps her faith with 1s, ard will nut receive this counter cretion. Austria, however, gives the Cabiset of St. Petersbu1 whe benefit of the time she had already allowed, an. Coun Enierbasy. her asceptonce of aso, ahkote er or rejection, without rian ultimatum. ” Russia refuse, or if at that date she has not accept- od the Austrian ultimatum “ pur et simple,” Orunt Ester. hasy bas instructions to withdraw from St. Pe‘ersburg. ‘he Second Reply of Rassta on her Accep- tance of the Viesns. Jan. 16—Evening. Count Eaterbazy writes that Count Nesselrode has Just notified to him the pure and simple acceptance of the ultimaium, the propositions of which, forwarded by Austria, are to serve as the ere of peace. A despatch received from Dresden announces that an extra #1 iment of the official journal of Dresden has deen i ed, in which it states, on reliable authority, ‘that sin ‘trian proporals. Rugria bas noovial has accepted, unconditionally, the Ausi Buruy, Jan. 17, 1856, Austria’s Official men attribu'e this to the. urgency of Prussia’s representations and remonstrances, Brau, Jan, 17—Night. Yesterday, at 10 o’clock, Count Nesselrode and Uount maorbeny signed, at St. Petersburg, # protocol containing ‘the conditions proposed by the allies a» the formulation of the preliminaries of peace. It is officially known ab Berlin that, iu consequence of the attitude of Austria and her pretmnre at St Petersburg, Russia rey-ked, on the evening of the 16th instant, resolution of the 12th, and nas accepted the whole ct the silied proposi- tions, purely and simp!y. Conferences at Paris or Bcus- sels are expected shortly. [From the London Telegraph, Jan. 18.) We print the two following proporitions without guarantying their authenticity :— Vunx4, Thursday Morning, Jan. 17, 1866. The Russian counter proposals stipulate that in the eencition which demancs the destruction of the military establishments of that empire in the Black Sea, the preservation of Nicolsieff not be included. "The question of the limitation of the number of ships to be maintained by Russia and Turkey 1s conceded. Turkey is, for mere naval police, to maintain a sufficient force to repress slave traffic. Viena, Wednesday, Jan. 16, 1855, The Austrian Co states that Russia ¢oes not sbeolutely reject the proposal for a cession of te:ritory, Dut requires it to be reserved for s peace conference. ‘Bopes of peace are accordingly prevalent in Vienna. — —_- a of the baad Basis tic Dae Effect on Prence'and Prussia, Spleieed {From the London Post (official), Jan. 17.) We have now gained a great point. Tne Austrian pro- prs all fiv aeeepted, and Russia 1s implicitly a 0 ee The public learn this with satisfaction. ‘The funds rive with the hopes of peace, and the next step is eagerly mquirea after and looked forward to. When end where are negotiations to be commenced upon the basis now sgreed to, is a question universally asked. It is of much importance that 1t should be rightly ua- derstood that the proceeding which has had sv happy an issue in determining Russia to make Jarge and important concessions 1s an Austrian proceeding, and that the five oy sama as accepted by Russia, do not contain on the face ot ail that the Western Powers consider necessary for Shetr sae entrance upon negotiatioss. When theCabine: of ‘ieona sapiied to Eng'and and France to know the terms upon which they would consent to make peace with Russia, Bairect and distinct reply was giver. Upon that reply Austria founded the proposals which Russia has accepted, Dut she has not reprerented te the Czar the whole and ‘exact tenor of our cemands, and it would not pe fair in beth indeed just either to ourselves or to Russia, to enter upon discussion before the preliminaries have been arranged so clearly and unmistakably that Russia, on the one hand, may not have it power to pretend that we rave entrapped her negotiations withoat po ig lags fully aware of their import; nor we, on the other, be open io the manceuvres of the adroit diplomacy which bas already, in former instances, a0 cleverly g@mused our ministers. To take an ¢3 : In the Austrian proposals the ewe of the Aland Islands is never mentioned, put, nevertheless, We be:ic7? it Will be found that Lord Cia: rendon had emphatically stated to the cabinet of Vienna that we must insist upon Russia's binding herself not to rebuild Bomarrund. This resolve, justifiable on the nds of military syocess and reguieite as a matter of th import to the well being of Europe, deconies iiapé- ative, when it is remembered that we have ouly recen'ly conclu‘ed ap alliance with Sweden, and that it is our Deunden duty not to leave our ally at the mercy of Rauseis, nor to permit the re-ereation of a huge and me- macing fortress within one hundred miles of Stockholm, Under there circumstances, then, it wiil be the duty of the belligerents, before negotiations oan be entered upon, to signify their intentions to Russia, and to re- quire her soceptance of proposals totally free from the | empress of misinterp:etation. These proporals, we ist, will have the support of Austria and the German Powers, and will, we are confident, meet with acceptance at St. Petersburg if Russia be now really alive to her own interests and anxious for the welfare of Europe. If Ahey are accepted. shen negotiation will follow. bat not at Vienna, nor Paris, nor Londov. All preliminsrice once satisfactorily adjusted, some more fit placs ‘will be appcinted for the conduct of conferences. In the meanwhile we must keep our energies praced and relax not one iota of the prodigious exertions it are made for the spring campaign. This, we ere |, isthe soul of successful negotiation. Tse voice of Europe is in our favor—our resources are im- rgerpreay ig ree cg Pera ae bpreliee us then hope rT Ww up @ourse upon which she has entered, and that, Songebiag the isolation of her position and the hopelessness of her cause, rhe may accept all that-is n: , and no more than is just; and that, by frankly yielding to our de- mands she may spare the nations the horrors of farther Dloudehed and inaugurate a safe and ieatiag peace Po fa ‘be powbere more sincerely welcomed than in Lonéow@itmes, Jan. 18 J thé {rom the waritke apenas bat yesterday wo Te sng om OBR 6A OF WAMp Haborrous isan ty she other, has fallen a rudden Jull, ana ue aamaer of tne rmorer is uplifted, and the hand of the chip carpenter is stayed, while they listen with wonder and surprise to the wnexpected tir of peace. We have become indurated to n state of war, and it seems now almost as impossibie for England to fall back into the old pacific routine of the last forty years as it appeared two years ago for her to shake off the peaceful habits and associations which those forty 's had created. Nor weuld it, we sus- pest, be perfectly true to vay that the country ha'ls the Prospects so ruddenly offered of a return to pei~e wi h un- NEW YORK -BERALD,. MONDAY, FEBRUARY 4, 1856. con¢ition which did not teva directly to defea: 4 We do not believe, as we have said, that avy of these difficulti»s will really ve allowed to interfere with that which the Court of St. Petersburg eeems to have determined to be recestary to its interest, hut merely wish to cool the ardor of those spi done, and that nothi: g should iad Nothitg induce us to relax for a single momen? im our preparations until all the stipulations we have mentioned have been clearly snd etzetvoonlie put oy as ‘and unequivocally . We must remember that the pressure we have put upoa Russia, and not by the mediation of Austria, has the pre- sent bappy alteration in our circumstances brought about, and that, if we would preserva the advantages of our ition, it can only be done by 8 constant adhesi m to the very means by which that has been pro- duced. Let Russia cnce see reason to believe that we have allowed the hopes cf ease and tranquillity to un- nerve our vigilance and disarm our courage and the whole work must be done over again, for she will as- suredly find meaps to wriggle out of ihe concessions she has wade, and to resume her old attitude of haughtiness and defiance. ‘Pre way to obtain peace is to make our adversary feel thoroughly—what is, iodeed, no more than the trath how much more neceseary that peacs is 10 her than it is to us. We have tried reason and re- monstrance with no effect—have tried vigor and action with the most encouraging resulte. By energetic action we have cc: led the enemy to neg tiate; by a con- wance of that energy and that action we shall bring those negotiations to # happy resuit. It is the commen error of historians to sttribute in there mat- ters too much to the talents of plenipctentiaries, and too little to the relative force of the con- trasting States. No negotiator was more successful than Charles XII. before the battie of Paltowa, or Napoleon before the expedition to Moscow, for their arguments were backed by their bayouets, and faults in their logic passed unnoticed amid thuncer of their cannon. Af- ter these signal reverses they negotiated with equal ta- lent but entirely cifferent success, for the power that gave force to their propositions was gone. Now, then, if ever in the course of the war, it is necessary to push on thore preparations which are required for the efticiency of our sea and land jorcea in the next campaign. Ne before was that necessity so urgent—never would the ef- fects of any relaxation or remissness be so itamediately felt. We have thegoal in sight, and that ought to induce us rather to double than remit our exertions. By ob- cerving th‘s line of conduct we shall either have guined the noblest victory—a solid and lasting —or be in a porition to inspire those who shall have withheld it from us wi ha still more durable repentance. [From the London News, Jan. 18] How near is peace? The exact tenor of the answer re- turved by the eabinet of St. Petersburg to the overture from Vienna must be known before tcis question can be answered, According to the telegraphic despatches from Vienna and Dresten, “Russia bas accepted noo! Citiopally the Austrian proposals; according to Paritien version, Russia has merely conceded ‘that propoettions forwarded by Austria ought to serve as the preliminaries of peace.” We have reason to believe that the despatch from Paris, though not very clearly worded, approaches more dearly than those trom Vieuns and Dresden, to the terms of the message received by the English government. Russia, we are given to under- stand, has only acsepted the Austrira proposals as the bases of negotiations. In like manner, Russia secepted, ap pe “the four points’ as the basis of megetlations. We do not mean to imply that the cases are exactly lel. Ifwe are to bave conferences jim 1686, as we ad in 1855, it is to be hoped that the asilies will insist upon tl being held in Paris or London instead ot Vienna; or in Beussels, if itis deemed nesessary that they be held in a neutral State. But even if the allies sre weak enough to alow them to be held once more ‘n sented there than she was last year. It must also be admitted that the ‘‘ proposals” of the Court cf Vienna are more precise than “ the four points.”” ‘The proposals do not admt of the same amouot of cavil and mystification on the part of Russia a8 dii the four ints, It must be borne in mind, however, thet there is@ postscript to the Austrian proposals, which may enable Rusma to open up aferien of interminable diseus- sions. ‘ The belligerent Powers reserve their right to produce, in the interest of Europe, some special condi- tions beside the four guarantees.”’ Since the Austrian nat aah ay ed rents have some ¢! ugh the publi- Sation of the detensive Sillanbe stetwetn Gwexen end the Western Powers, the announcement of the tall of Kars, and the failure of Omer Pasha’s expedi tion in’ Mingrelis, If Russia hay only He ies regotiate on the basis of the Austrian pro- posals, with » view to induce the alies to relax in their preparations for a prosesution of the war—a supposition quite in y with the antecedents of Russian ciplomacy—she wiil find in the postscript am- ple pretexta for evading any obligations sha may haye contracted with Austria, Nor must {t be forgotten that the Austrian proposals are wore in favor cf Austria than of Turkey. All that the latter Power gains by them is the guarantee, such as it is, that Russia shall not maintain a formidable fleet in the Black tea, or re-establish the military arsenal at Se- Dastopol. In what regards the immediate causes of the war—foreign interfe:ence with the Christian subjects of the Porte, and a foreign protectorate over the Danubian Prinecipali'ies—Turkey is left pre‘ty nearly wherejshe was. England, France and Aus! perhaps Russia—are to interfere collectively between the Sultan and his Christian subjects, instead of Russia alone. | By assuming a protec- torate over the Principaiitiea Russie icsories wie thin exd of the wedge to separate them from the Turkish em- ire; the arrangement proposed by Austria will only rive ihe wedge a little further in. These conditions way find favor in the eyes of man7, but nobody can say that they tend to ensure the “independence and integri- ty” of the Ottoman empire. If ‘are agreed to, the end of the sassy war wil lke toes of most other wars, forget its beginning. But, t govern ment out of the question, is the acceptance of these pro- posals likely to benefit the Rayahs or the inhabitants of the Vanubian Principalities? We have our doubts. A joint protectorate of the Rayahs appears to us to mean nothing more than the permanent establishment of rep- resentatives of the great Powers at Pera, constantly interfering with and peralyzing the action ‘of tae Otto- man government, and thereby perpetuating anarcay throughout its dominions. Until we know what kind of constitution the Principalilies are to receive, aud until we sce the Austrian army of occupation withdrawn from thoee provinces, it will be premature to coogratulate the Moldo-Waliachians on the stipulations made ostensibly in their behalf. All that can with certainty be said at present, is that if Russia is prepared in good faith to accept uncondi- tionally the Austrian propvsals, this is a preof tnat she already feela zo severely the pressure of the war a to be hopeless of the future. The sceeptance of sueh terms cannot but be most mortifying to the pride of the Rus- sian government. At the outse’ of the war it assertei s right to arbi:rate between the Sultan and his Christian subjecta, and seized upon the Principalitics as a ‘ ma- terial tee ”’ for submission to its arrogant claims. At the end of the wnr, if the proposals are accepted, it will eubmit to bave the protectorate of the hs wrested from it by other Powers, and wil! seje perma- nently 8 part of ita ter~i*7 rnig will be all it has Causey vy the loss of its Black Sea fleet, the destruction of the labors ot long years at Sebastopol, and theexpenditure of much blood and treasure. All thisis very humiliating ; but itis precisely tae depth, ofthe humiliation, and the cer tainty the lapse of afew years will enable Russia to repair its losees, which induce us to doubt the posal- irits who may in‘er that | everyshing is already Temaivs for England and Franee but to ring their bells, light their, bomtizes, bill. Vienna, England will be much more efficiently repro- { \ exchange the effect upon fhe funda, as will be seen upon | referepes to our ci) article, was unp.ecedented. In | fact, every class appeared Dearly rejoiced at the first gleam of hope which bes presented itself since the com- meneement of hostili ies. That the int ‘nce cau be rehed upon there one ke be oan, It is from na then'ic’’ s-urces, aud other telegraphic messages confirm the gloricus news. If any farther evidence was required ‘of the eager desire of ie f retions! man, in both king- dome, for peace, it would be confirmed’ by the joyful countenances borne yesterday by the citizens of Paris ‘and london. In the former city, the effect upon the Bourse was, if possiofe, more favorable than even upon | our own Ex . No man in Franee more sincerely rejoices at the auspicious turn of eventa than our august himwelt, the Emperor Ni . He is well aware \t tion of the war would, in the exd, spread | Mike a devastating conflagration over the whole oonti- vent of Europe; and the s} of so tremendous a clash of arms woul rocked to their very centres old dy- pasties, and mace monarchs tremble upon their thrones. The continuation of the war has already almost ralyced trade; money has become soaree, and interest been demanded at almost ruinous rates by even our own Bank of Kngland; provisions an the eommon neces- earies of life have arrived at starvation prices, and if, after two years’ war, such ia the state of affairs, what would it be three years hence? Notoing less than na- tional bankruptcy. We eannot, aga matter of course, enter lato the full details of the ratification of the terms of peace, and the necesrary steps which will precede that event. At the present moment the world i+ too much engrosed at the realization of its tordeet hopes—p+ace—to calmly enter into details of minutia. The news ts 60 sudden, 60 unex- pected and #0 glorions, that men can only turn their thoughts to ope source. and offer up to heaven the out rings of grateful hearts at the rltignt prospect which as inaugurated the year 1856. [From the London Globe, Jan. 18, That Russia accepts such an outline of pacific arrange. menta as that traced out for her in the Austrian propo- sitions, must be considered a8 ro slignt evidence that she has made up her mind to acquiesce in the filing up of that outlineso as to satiefy the reserved bat under. stood requizements of the allied Powers. Tnose require- mente connot be considered as aggravating the results of the conflict, which are recognized and placed on record dy the already accepted proporitions, ff defeat ie to be régaided as humilisticn to the power woich opposed it- self to the preponderant pbysical and moral forces of Furope, that humiliation (if it is to be so termed) is al- ready sulimtted to; that defeat is acknow: as an accompifshed tact. Nothing else eou'd necessitate the Preliminary acceptance of such terms as those proposed by ‘Austria, and the Russian r: ition of that necessity is & sacrifice of pride to policy which must draw atter tt, in plain reason and consisteacy, whatever concessions of detail are fairly imp.ied, and fully understood to be im- pliea in the terms now accepted. ‘That Rusia should hav» sauté pour micux reculer in the prerent instance, seems scarcely an admissible sup rosl- tion; since such an hypotnesis, if admitted, would place her before the world as having subscribed to terms which must have cost her pride a severe struggle, without any conceivable commensaraze chject in poy. Such aeacri- fice of the scrt of prestige, to mainiain which Russts really engeged in the contest, seems too costly to be mere- ly a diplomatic feint. But it is aceepted, we hear said 10 some quarters, with no other intention than of gaining time, and sowing dissord bevween the allies. With- out entertaining that extraordinary opinion of Rus- man elope 8 which has seemed so indlfferentiy justified by course it- has taken these Pa pew we eannot, without better evidence, crite to it such blindness as well as obliquity as would de indicated by assuming suche well founded, All the main i¢h the allies aim at have been discussed and deckied by them—all the pre- parations are in full activity to pursue the attainment of ‘those objects, if need be, by force of ayma. How can it de imagined that Russia can hope to mystify the alliesin their perception of these objecta which bave been fully defined and agreed upon, or divert them from the farther exertion of the energies, the ruccees of which has re- ceived such signal recognition even in theenemy’s camp! Ii the concersions of Russia are meant to be frirly fol- lowed ont, they are rational snd intelligible. They amount toan acknowledgment thet she must paythe price of peace imposed by defeat in war. Isit conceivable that she should subscribe such a virtualackmew‘edgment, with the arriére pensée ot eluding its practical consequences? We can only say that, it such a calculation were possible, it would be avery bad one, ° Ce serait pis qu’un crime—ce serait une Saute, The general propositions, which Russia has a3- ‘cepted, are an abandonment of the wkole ground she tock up at the commencement of the con’ and has maintaiced since with a constancy wortby ofa betver cguse. Such a surrender was well worth making, as the mse of peace, safety, and future prosperity. Bat it is a jescent far too serious trom an afrogaptly assumed und stubbornly maintained position to have been made with- out the intention to Lay the pacific results of the con- summated sacrifice. We eannot suppose that Russia holds so cheap her national standing and reputation that prole icion a8 probab'y she should stake them in # mere sharper’s game, and simulate submission that may divide the Powers prepared to enforce it. ler honor, and interest also, in the situation she has made for her- self, will best be censuited by frankly and fally consum- mating her accepted sacrifice. And we need not say that the honor, not Jess then the interest, of France and Eng- land are éngaged in insisting on the full attainment of those opjects which have cost them so much blovd and treasure. To yield these, after reso.ute trial of her single aginst their combined force, cannot dishonor Russia—to forego the fair fruits, atter paying the full costs of victo- ry, would assuredly both dishonor and damage the West- ern Powers. Indemnity for the war expeniiture incurred by England and France does not figure amongst the terme pressed uw) Russian ance. That is a for. bearance for ich fair equivalents can only be found in iv ree /whahmain as well as recognized, at the close of 6 conflict. DID THE PEACE PROPOSITIONS ORIGINATE WITH THE RUSSIANS f [From the London Shipping Gazette, Jan 18.) We were among the first to announce that definite Liat for peace were under the consideration of he allied governments, and to state, at a tite when <ush 4n announcement was received with incredality, that the chances of ceful negotiations were greater than they had been since the commencement of active hostilities. ‘We have since watched the progress of these chances, and although at ove time ft appeared doubtinl whether the capture of Kars by the Russians. and the conclusion of the treaty between Sweden and the allies, might not affect the pacific solution of the question uncer dis- cussion, the ivsue—wbich we apnouneed in our im- pression of Jast hes proved that our views upon the subject were sound and unexagge- rated. Wehave also reason to believe that the proposi- tions which it is now raid all parties have accepted as the basis of tiations were brought about in the manner we, from the first, explained to our readers, and ‘hat, in fact, almost the identical proporitions which Russia has now Officially accepted emanated in the first instance from the suggestions of her oun dij “s, Be this ax {t may, there can be no donbt but that the progress of the pre- sent negotiations between the allied Powers and Russia have been extraordinerily free frem the usual diplomatic Celay and finesse, particularly when itis remembered that they bave now: been carried on through the inter- vention of the German courts, whose intermed.ate co- opera‘ion the belligerent powers were at Inst compelled to resort to, TRE EFFECT IN LIVERPOOL. (From the Liverpool Journal, Jan. 10.) ee journalists im ventian ae have Longe w a very ignorant or great hypocrites; they were simply jag With an ostentatious affeotaticn of knowledge, they knew nothing. Their large type and impiiéd in‘t- macy with the Foreign Office were only mi-leadig; they mace a guess, and then affirmed ita truth. If you believed themselves they knew more ot court feeling at S¢. Peters- ty of the permanence of a concluded under sach wt vottoucbe, The wounded pride of Russia will rankie at her heart, and stimulate her to reize the first opportu nity to efface the memory of her shame by some dazzling exploit. The cherished ambition of centuries will not be lightly relinqutsbed. mixed ané unalioyed satisfaction. No one isso inpumanas to argue for war in the abstract, but there are a great many, we suspect, who think that {ts continuaace for snother year would have more of good than of evil. Our preparations are so vast, our army and mavy are arsuming Fo much more promising an aspect than betore, and the power of Rassia is go visibly redacod end shaken, that we might reasonably hope at th» end of ‘nother campaign not only to ¢ictate terms mush more favorable, but to have for them the best of all possible ntees—the ut:er exhaustion and prostration of 0. ‘advereary. In sush cases, however, it is wise to propitia’ that Nemesis which is so apt to wait on those whose overweening expectations ot future good fortune render them Sit to the opportunites of the present, and to close our hand upen that certain success which {1 within its grasp, rather than open it to snatch at some fortune ‘move siiuring, but ala> more doubtful and dangerous. To be deiivered from the continually recarring eate- es of sisughter, from the rapid increase of our netional debt, from the prospect of a 10 per cant inocme tax, and a constant derangement of our monetary m; to curb effectually the insolence and aggression 0 & Power which two years ago would only condesceud to answer Our earnest remonstrances vy a hanghty and expressive silence, treating them, to use the metaphor of the Empress Catherine, ‘as the moon does the wolves that bay at he these are advantages fo solid and sab- stential that we would not change them for the most Drillant future that ever nllured and deluded the vi- sionary or the enthusiast. Let us only be sure thet we have got what we ask for, and we shall bear with much philosophy the loss o! all the fine things that another yeer of war might bring us. ‘We would, however, caution the pubitc against the suasion \hat the telegraphic messages of our corres- yondents at Vienns and Berlin, and that posted iy the French ment on the Paris Bourse, necessarily imply—what their words certainly, taken jm their literal sense, would fairly compresend— that all the propesitions upon which the allies insist have been snepeattioeaty accepted by Russia. Tho ‘erms of the fifth age ge jon are general, and do not recessarily include undertaking not to fortify the Aland isles, any mode than any other demand the allies it to make, Wedo not believe thst this i epee yet been specifically submitted to Russia, ca be the probabilities of the case, we justified in saying that she has uncon er terms Cnt must peremptorily insist—the disarming e rm cost of the Tack Consuls of the Why insowe do not know. That is the concern of tng We are not peas a = - yg del ‘employed the media a third Power, whose Beg it is to gee that Russia be brought to an ancondition- al ‘of our terms, with all their stipulations, ‘we even enter into negotiation. We do not believe that these thi nplgack ley’ Leen obstacles to the concl| peace, but oar on wen semeuibet that the announcement is that of an trian, not of an English diplomatist, and thet he gvesks ftom © point anew not slways identical with our own. Again: what does Russia mean by an unconditional as- y"We have held an acoeptance and have some experi i tbare in no Mitinction between the two, tions on which a negotiation reste must’ be accepted un- conditionally, or they are no foundations at all, We must begin some where, and that with which we begin ‘Meanwhile the course of the allies, if they are bent upon concluding @ peace, ia clear. Rus-ta has beea brought to terms by the losses she has already suffered during the war; by the preparations of the allies to re- sume hostile operations on an increased resle, and with more of systematic plan, && soon as tle season permits; and by the defensive alliance with Sweden. Fear alons has induced Kussia to entertain pacific sentiments—fear alone can keep her in that mood. Tne war must not be allowed to slacken for a moment while neg stiations are in ogress. Victories won by the allies will be more effect- he negotiators than the most skiifal diplomatists. [From the Londou Chronic'e, Jan. 18.) The intel'igence that Russia had anconditionally ac cepted the propositions of the allies communicate! yes- terday morning to the public—and afierwards confirmed as having come from Sir Hamilton Seymour—which sent the funds up nearly three per cent, appeared, at first, al most too goud to be true, After the Russian clreular of the 27d December, and the still more recent announce- ment cf the alleged coun‘er propositions of that Power, it seemed in the last degree improdabls thes the o-iginsl scheme of setilement, Ghich has more recently been known as the Austrian ““ultimatum,’’ could have been absolutely and unconditionally accepted. Tae sincere desire of the British people for en honoravle peace could not, perbaps, be’ been more emphatically evidenced than in the alscrity with which the information was caught up and acted upoa. The burg than Nesselrode, and as for Lord Palmerston, they were in his confidence. Day after ésy they told us that eace was ® delusion—e gocidess that escaped your em- race when your arms extended—one of the exhalations that peopled the fens of Finland. There would be no peace; the war wonld continue, and it would bea terrible war. The walle of Cronstadt were to be pulverised into & minuteness that rendered it a titilating dust; and as for the winter paisce of the, usr, It would illumiante ‘the darkness of the soenery.”” Well, torrat has beaten the journalist, if he bas not bei the allies. Their predictions are fal- sified by bis conduct, for be has virtually made peace by ncsepting the propositions. He undoubtedly throws Cust into the eyes cf his subjects by talking of wegotia- tions, for very little remains to negotiate about. His apparent frankness may inspire the Western Powers with a eorresponding candor, and it is wonderful how well nations like each other after hard fighting. Our best porsible instructoré need a little = gh they are very clever, but they want what Barnes of the Times desired ta his leader writers—a little common sense; they must think more and presume less. M. Montalem- bert divined accurately the vaiue of an English ne« paper; its merit did not reside in its jeading articles, ita brilliant esrays, but in its eccurate reports, The short hard writer is the real bevefactor, for b- slone gives the true impress of opinion, The editor tells you only what he thinks; the reporter lays before you what everybody says and doer. Russia, in making peace, ia playing her own game. She bas largely profited by the war. “The sieges and betties that ehe has passed’’ inform ber where she is weak and strong; woat she wants and what she has to fear, In the field she has met the masters of the world, she bas measured swords with them, and, ia defeat. will money market—that unfailing batometer of opinion— experienced an immediate sympatby with the nataral satisfaction of the public; and the revult was, that sl- though during the day there were very heavy fluct tions, the price of the fands settled dowa at a considers- ble advance. At present, however, the telegraph has put us in pos- session only of the most meagre summaiy of what has occurred. ‘It is ehort and decisive as far as it goes; but until official derpatches arrive, it is impossible to say that ft ts absolutely conclusive, The intelligence ia gratifyiog in the extreme; but we should regret if the satisfaction it natura ly generates should be succeeded by s reaction. The impression now existing on the public mind is to the effect that Russia has accepted the scheme of sertlemont forwarded by Austria, and that thertore there {s an end of all the difficulties of the question, We suspect that this would be to leap too suddenly at a concluvion. As far as we at present know, ail that Russia hea done bas been to accept, unconcitionally, the Austrian scheme an “a banis for negotiation.” That’ is to say, she admits the general principles em! in that “nltimatam,’” and will make the best terms for herself abaut the details, ‘The acceptance of Russia appears too frank and uncon- ditional for the known diplomatic habits of that Power. There is a plan behind. ‘hen we come to negotiate we may fiud, as in the case of the four points, that the Rus- man admissions unsubstantial shadows, It will doubtlers be the congenial task of Mr. [israeli and bis friends on both sides of the House to supply substance to these shadows—to uphold the integrity of Russia, and denounce the arregant intolerance of the English Minta- try. Their game ix deranged, bat ,the victory is not yet Jost, [From the London Telegraph, Jan 18 } Our second edition of yesterday contained the follow- irg announcement, conveving the important intelligense that the Emperor of Russis had uncondition lly accepted the terma of peace proposed to him by the allied Powers: Viewxa, Wednesday, Jan. 16—10 P. M, Russia has unconditionally ‘accepted the propositions of the allies, This Is authentic. ‘This announcement, as may well de suppoved, crnsad the greatest excitement in the metropolis. At the etoek learn to conquer. It was what Peter the Great did; it Alexander the Second will do. He will husband encourage him to do They degrade bim, and he will have revenge; the absence of fleets from the Black Sea will give hia #esu- rity in stuffing the Bug and the Pon with war ships in sections, an Bulnoitl gptare'S serves, be will touch these with a magic and they will cast their sha dows on the Bosphorus. An augmented army wi'l cross the Balkan, when England and France sever the alliance, and the Christians in Tarkey invite the Muscovite to Constantinople, If the Czar is playing his game, Lord Palmerston has [eta hia. The war people were delighted to hear that ie was eéverre to peace: the peace people rejoice thet he has accomylished a peace. The country was rapidl coming roand to Mr, Cobden’s opinion, and the Premier's Duriness, like the player's, was to please, He gratified the nation by throwing vi into the war, and, now that the people are pacific, he terminates the war. Gocd fortune smiles on his years. He nesds no one to ‘rook the cradle of his declining age,” for the world pronounces him still young, and his final triumph ia over courts, kings, queens and princes, You must sympathize with him, for he isa great man in events, and he has bad the mind to turn events to account. Urquhart cannot impair his strength, nor Lord John Ruseell interrupt his infinite variety, If journalists have been silly, thee people have been wise, It is the business of those tn high places to profit y knowledge; and what knowiedge is po profitable as that which relates to money’ The fonds are like certain newspspers—open to al) and influenced by many. War and peace consols are an sensitive as a young lady be- tween her mamma and ber adorer; and faned it is that, last week they were in the dismals—down to 86; but, on Thureday, they were joyous at %. People in the secret operated; and, amcng others, an agent of a crowned head, A millon is eaid to be the extent of his expendi- tore; and any merchant’s clerk can count the gains at an advance of £4, prebably £10, 9 share. How “houses” ia Liverpool will realize ae much, fairly, in five yeare? Louis Napoleon tela better than spec Peope can understand his finances, can comprebend his principles, except afi not Gattering to him. Within these few been telling the world tha: his wrerg, but that he is qui'e right. tutions bestowed on France by Bourb ns and re) were vicious; but the one, the fruit of the coup d'etat ia per There is not a screw luore in it; every joint fite, and France will be a paradise when the present Senate apprebenca ite high mission—that of gi mie Fmperor advice when—he arks it. This is a jt age. When before in the bistory of mankind did a great people ever tolera‘e such humbug? But it will do; it is good enough for those for whom it is intended. THE RFFECT IN FRANOE—THE NEGOTIATION. [Correspondence of the Lan.jon G} /be. Paris, Jan, 17, 1966. ‘The news of the unconditional tation by Russia of hes Regge en be pre oa phon annoat sepeal w 7 te copy ofa from the Frenck Minister st Views te the Minister of Foreign Affairs in Paris, was posted up in the Bourne in tbe course of the afiernoon, and the efiect was an imme- diate rise of five fr feeling of the public, after ‘the first burst: f astcmshmen: snd satisfaction was over, was one of distrust; people reminded each other that they had no grounds for believing in the sincerity of Rur- tia, and explained her adhesion by her apprehension of — Austria under the inevitable necessity of break- ing «ff friendly relations, aud possibly taking up arms against her. But this acceptation merely leads to fur- r Degotiation-—and further negotistion will proba- by, lead to a disappointment hke that of last year, which will afford Austria ancther pretext for wi'holdivg her co-operation. Such appears to be the opinion of the public on the subject. At the rame time it behoves the allied goveruments—and there is no dsubt they will act on that principle whi'e they display cue caution in dealing with ro siiopery sn ant it—not to allow them- relves to beled awsy | elamor, and by insiat- ing on terms tco hareh for her acceptance, afford Russia a tair excuse for prolorging the con‘est. The Dévats of 10 day, states that M. Nesselrode, in bis reply (the first) to be Austrian Cabinet, insists repeat- edly upen the pincere desire of the Emperor Alexander to restore peace to Europe. “The Emperor,” says tae Minister, “is not seduced by the love of conquest; he seeks to glority his reign, not by adding new provinces to Russia, but by developing the germs of ite material rosperity. ‘The internal régime of Russia requires po found seiorme. without which the Russian nation cannot hope to attain to that degree of civilization which other nations have reached. ‘The Experor is convinced that his miasion consists in introducing amongst his people some grand social and Ger amalGrationa: and he is impatient to commence his work, ‘The Constitutionnel gives the following account of the seuivity cf the German diplomatints at St. Peters: Ur g:— Count Valentine Esterhazy had two or three interviews with M, de Serselroce, without any satisfactory result. Since then Count Fsterbazy has bao an interview with the Emperor Alexander lJ., who said nothing formal re. spacing the. Austrian Pp cee He subsequently paid s visit to M. Senfavin, of the Foreign Cffice, where he met witha ‘very cold reception. Baron de Werther, the Prussian Minister, had meantime arrived at St. letersburg. He paid a visit to the Chan- cellor, who asked him brusque manner whetoer ne had ccme to say a word for the Anatrian Plenipotentiary, and to support the ridiculous pretensions of Austria. Baron Werther replied that he could not support what be was not cogvirant of. To Count Esterhazy, whom he visited afterwards, he raid that he had no instructions from his government on the subject. Baron de Seebach, the Saxon minister at Paris, arrived at St. Petersburg on the evening of the 29th of Decem- ber. He went direct to bis father-in-law’s, Count Nessel- tter than constitu- oun manepponey > ‘aton ‘ation in Moni- but mo one rode’s, where he passed the evening. following morvig he paid a long vistt to Count On th Valentin pe am not able to say what paseed, but it is certain that after the interview Count Neseelrode mooified his tone. and hinted that a comprowire might be effected. The pilley of moderation and conciliation brought by M. de bach has found a powerful supporter in the person of M. Felix de Fenion, who made known that M. de Seebach was not only the faithful organ of the German courts, but also of public opinion generally throughout Germany. The testimony of M. de Fonton bas the more weight with the St. Petersburg cabinet, as he rerided for many years at Berlin and Vienna as councilior of Embassy, and had ust Jeft Hanover at » moment when public opinion in Gomany, stirred up by the polemic caused by the speech of the 15th of November, pronounced itself exer getically eguivst Russis. Passing through Vienna, M de ‘onton there learnt the dixporhion of Austria towards Rustia, and the teror ot tue proposals Austria was about to nerd to St. Petersturg. de Fonton gave at Warsaw a faithful acsount of the of public opinion in Germany to Prince Paskiewitch, whoee secretary he was formerly, and the Prince recom mexéed Lim in hts own name, and ia virtue of his au- thority, as Field Marshal of the Russian armies, to con- jure the cabinet of St. Petersburg to accept readily any Proporal of pence that might be made to e advice of M. de Fonton bad, therefore, double weight with Count Nesselroce, who, after all, with the yewt of his ministry, is anxious to ‘see pence re ectab- ed. THE EFFECT IN BERLIN. (Correspondence of the London Times. Berun, Jan, 18, 1856, Baron von Seebach passed through Berlin yesterday morning on his return to Parie from St. Petersburg. Count Benckendorff, the military representative of Rus- sia here, is expected to arrive to-day, if he did not do so last night; and Count Stackelberg, who holds the same office in Vienna, probably arrives there at tbe same time. It is put forward here in certain circles that the Barcn’s becget of mformation ia to be first opened in Paris, whence the original impulse to the St. Peteraburg journey receeded, and throughout the whole affair ot the See- ch mission§specifically. Prussian circles heve attached more chances of succers to it than to the Austrian dé- ‘marches of Count Valentine Esterhazy. ‘the general be- Hef here is, that the Emperor of Rascia has virtaally re- jected the proposals put forward by Austria, but accepted the ideas put forward by Baron Seebach; there latter unde: to be sure in ‘advance of the approbation of Louis Napoleon, Emperor has adopted . and added to them some others of his own, which, however, approximate to the views of the Western Powers much more nearly than the contents of the last Nesselrode circular of Decemper 22. ‘Tis is evpposed to be the gist of the communication that will be wade cfficially to the Austrian Court by Count Stackelberg, confidentially to this Court by Oount Benck- encorff, and oflctexenent to that of Paris by Baron See- bach. Count Stackelberg is doubtless at the same time the bearer of an autcgraph letter to the Experor of Aus- tria, in which the peror Alexander expresses bis warmest thanke for the Austrian endeavors to promote fence, and gives the assurance that the Emperor wishes for path ing pore einoerely than that the desire of pui! an end to the calamities of war, which has been express in £0 many quarters, may woet with a speedy grat! ™- cation. There {s no talk as yet of Colonel Von Manteuffel 1 turn hither from Vienna. ‘There are a variety of small indicia perceptible, indi- ca‘ing that Prussia is only wailing for a ft moment to renew very earnest remonstrances to the Court of St. Petersburg, tendingto show the necessity of the high tone hitherto assumed by that court being somewbat lowered to meet the real state of the case, as judged by the progrers already made by the allies, the preparations pow in 4, and the resolution and capacity of the ‘Western Powers to prosecute the war with vigor. This moral storm and these logical sealing ladders for the con- quest of Russian pride and stiff will, in ail probability, be exeeuted in concert with Bavaria, §.xony ‘and Wurtemberg, and there are some quspicions » loat that Prince Agustus cf Wurtemberg, who is a General {n the Prussian army, and bas within the last day or tw. left here fer St. Petersburg, is the precursor and herald of the coming movement. e ontensidble object of the Prince’s trip to the Russian capital isa visit to his brotl. and plster-in-lsw, the Grand Duchess Olga, married to the Prince Royal ot Wurtemberg. £NE EQUIVOCAL POSITION OF AUSTRI.. (From the London ‘Times, Jan. 17.) a * * a * It is very difficult to apprehend at the present mo- ment the real position of Austria. On the one hard, we are told that at the very moment when sbe rejected the counter proposition of Russia she declared her intention to go to war, while, on the other, we learn from a sewi- official French journa) that Austria had oeen trustei with the conduct of the negovia‘ione, because, in the event of their proving unsuccessful, she is determined to throwin her Jot wi h the Western Powers, and abide with them the fortune of war. Without pretending to decide between these con‘radictory rumors, we can only ex ress our hope, ax we have done before, that the Went rn Powers will stand firely and steadily by the propoiti-ns they have made, ard will not sliow themeelves to be turped either to the right or to the left by the conduct of a Power so varieble snd uncertain as Austria has 1¢,cat- edly proved herrelf to be, ‘The Western Powers haye employed Austria as their ambaseador in the pending negotiations, but they have not demended from Russia anything. which the interests of Euroge do not require, or which, if the Western Powers intend to be true to their mixsion, they ought to consent to forego. The question of the miuths of the Danube touches most peculiaily Aus Bavaria and w and ft is therefore 1 that Russia, seehing to discord between the allies, should fix upon this point as the safest battleground of a diplomatic conte But the question of the freedom of the mouths of the Danuhe ts reins ph ie bie nti iy also eat European question. & general rule, it te ua wivinable that the mouths of great rivers should be in the hands of strong and aggressive powers, and it is pr-- badly through this feeling, quite as much as from any strength of their own, that Hollend and Belgiam remain indeperdent kingdoms. Benides, if Rursia ia to Bt from interference with the internal affairs of Turkey, Moldavia and Waliachia must be raised into iniependent States and guaranteed from futore annoyance and invasion, and this can hardly be effected, unless the Danube, their oply outlet to the sea, be preserved to them free and . Nor is the apprehension of interference by Russia yain or chimerival. Already has she proved herself ut- tery unequal to the oy discharge of the great trust which she undertook to perform in the face and in behalf of Rurope. She has already done her best to atop up this mighty river, to counteract the beneficence of na- ture, and to turn eck the stream of commerce which ceeks the sea as naturally as the water upon which it floats. It would be reproach to the allies, and would tarnish the lustre of so many brilliant successes, if the} ere to terminate the war, allowing Russia to retain all in this respect tha! she enjoyed at the . The polisy of the Wertern Powers has Lene throughout, entirely relf reliant and self supporting, we trust sincerely that that polisy will not be departed from now, at the very moment when it seoum about tu be crowned with muccess. ‘At the same tim ( Toy onl bpp Ss baie that should Austria, after having rejecte Hy terms proffered % Russia, refuse hereelf to draw the sword on behalf of the policy which she ha aaet the will have not only exposed herself to namberiess and just censures, but ba’ laced grave dfMicultios in the ‘wey cf continuing the war, We wili not pass any obser- yations sgainst condret eo mapilestly recreant aod pusil- Jauimour as would be that of ao Emperor who, at the head of 600,000 scldfers. should take a leadiog part im negotiation, should refuse terme of accowmodaiton, should withdraw hie ambassador, and then leave the uarrel the origin ot which he hed superint-ode4, and fe final ieeuscf which be had raired-- an issue most nearly ocncerning the welfare ot his own domintons— to be fught out by the hands cf others, simply becaure be dared not muke his actions conformable {e his words, Governments, after H, even the most absolute, rest upon public opinion, ‘and, 08 opishing as is the vitality of house of Austria, we sannek spree nat men long. garvive #0 or and so signa) an ignominy. great strength o! oni mies hag orkeg the tion of wa 3 ineh acl ir governments are a; em! v4 mat nation over which ty pred. Werost the defsloation apd intehige) that this wal be go still, and that of allies nor the ertfully framed concessions of enemics will eheke the unanimity with which the pulic canse has bitherto been supported. We trust that the of Eng- end aud Frapce will be wise enough to remember that quarrel fs not oniy that of Austria, but of furope, and ia still worth puysuing for the sake of their own 3 though assuredly not for her advantege; and we are more strengthened in this hope from the belief, which we do net hesitate to express, that the allies have only to show steadiness and firmness e litle longer in order to recure the glorious reward of all their sacrifices and all beir angers. While the foreign emissaries and press of ussia bave ut'ered notning but the most presumptueus « eBanoce, the language of the Emperor himsel! is and oneiliatory. He seems to have appreciated the medera- ion cf the terms proposed to him by the allies, and to aye been to meet them in # corresponding ace { he bas not yiel all that bas been asked by theallies, ebas at least conceded so much as to render the conces- tion of the rest extremely provable That last concession we must bave. and, when we consider what another year’s cempaign will be to Russia, we can bardly suppose that a government with the interests of the country at heart, will involve the land in such unspeakable calami- igs, with no hope of obtaining etter terms, and with cmetbing very near a certainty cf being obliged to ac- ept ‘ar worre. The Effect of the Peace Rumors on the Fi- nancial and Commercial Circles, MESSRS. BARING BROTHERS’ AND 0O’S CIRCULAR. Lonpon, Jan. 18.—5 P. M. The colonial and foreign produce markets were dall until yesterday, when the report that Russia had aecept- ed the peace proposals of the allies caused an improved feeling im sugar, coffee and cotton. Breadstuffs dull. Tallow bas declined considerably, For money there has been less pressure. Consols have risen 10 8934 0 8074 { r money, 89% a 9034 for the account. Dollars 4s. 11344. Bar silver 6s, 1344, nominal. Quotations for American stocks are nominal, and al- though there bave been no transactions to mark higher prices, the orders for sale at previous mits have been withdrawn. BROWN, SHIPLEY AND 00'S. CIRCULAR. Liverpoot, Jan. 18, 1856. The cotton market was vory quiet in the early part of the week, with prices decidedly in favor of buyers, bat the telegraphic accounts received yesterday, announciog the unconcitional acceptance by’ Russia of the propo- sitions of the aliies, created great excitement, and prices advanced 34. perIb. these, however, proving to be premature, the propositions of the allies being merely accepted as wbasis for negotiations, the excitement has decreased, and the market ciores firmly at an advance of 444. per 1b, on fair Uplands. and at fully 34. per Ib. on Ble Epcot er of jiatne he The avles fer the week ending evening are 0 bales; ulaters takin; 8,930 and exporters 6,140 bales. To-day | they are caller 19,000, with 4,000 bales to exporters and speculators, at the follo juotations:—Fair Orleans, 63¢; miadiing, 55; fair Mobiles, 5%; middling, 6 9-16; iaic Uplands, 534; middling, b3¢; oroipary to good orcfoary, 6 a 534; inferior, 434 04%." Total stock im thia port, 378,000 bales; American, 202,000 bales. Total stock this time last year, 465,000 bales; American, 218,000 bales. ‘ace in Manchester had been very dull throughout the week, but the news of peace, though not entirely ba- lieved, ereated an active inquiry for goods and yarns, but pcoests hay'ng demanded considerably iacreased rates, uriness bas again been checked. Mcney continues in active demand, without change in the rates. The corn market has been ay dull and searcely any traneectiors, at @ decline of 84. 9 4d. per bushel in wheat, and Js. per bbl in flour. Indian corn in Jimited request at last week’s prices. Whi'e wheat, lls. td. a 31s, 10d.; red, 10s, 64.0 11s, per 70 Ibs.; Western canal four, 40s. €d.'a 41s.; Phiindelphis and Baltimere, 42s. » 428, Cd.: Ohio, 42e, 0 46s, 64.; Canada, 403-a 41s"; sour, 40s, a41s. per bbl. White Incian corn, 44s. 6i.; yellow, 42n,; mixed, 41s. 64. a 42s. per quarter. The cales of rosin amount to 5,000 bbls., at 4s, 4d. a 42, ed, per ewt. HERMANN COX AND CO.’S CIRCULAR. Livknroot, Jan. Mages The cotton market in the early purt of the week was quiet, but rather steadier; the pressure to sell having abated, and the quantity offering being smalier yenter- Say worning, however, considerable excitement) was created by the receipt of the inteliigence thet Russia. at the eleventh hour, had aocepted, unconditionally, the pro- posibons of the allies as embodied in the Austrian ulti- matum; holders withdrew their cotton, or asked much higher rates, while all classes of buyers en‘eced the mar- ket and operated freely; the sales tan up to 15,000 bales at an advacee of 34d. ys, Ib., and the better grades of boweds, which previous! %, had been the mort depressed, were now the most inquired for, and relatively the dearest, Since Jast night it has been officially made known that Russia accepts the terms of the allies only as s basis for negotiation. This anpouncement has somewhat dam; @" the srdor of speculators, and the less sanguine, distrusting the sincerity of the Ozer, do not believe ia & speedy restoration ot peace, but entertain tears that Russia will prolerg pnegociations as mach as posible, in orcer to gain time, and that we may witnees a repetition of the game playea last year, when sho accepted the ‘4our ports,” but in afdiflerent sense from that in which they were interpreted by the Western Powers. ‘Ihe mar. ket is cox sequently lees ‘excited to-day, speculators do not operate #0 freely, but the trade buy largely at the full acvence of yesterdsy. In Manchester, the market has been quiet, but prices are unchanged. The peace news, though not entirely credited, bas checked business, producers very generally declining to quote prices. ‘The money market has not shown any symptoms of be- comirg easier; the fear of a further advance in the rate of interest was very general in the early part of the week, but was dispelled in the excitement of yesterday. Consols rose rapid'y, and showed an advance of 314 per cent on previous quotations, but this has searcely been maintain- ed since, and they close to-day at 803 to 89%. CIRCULAR OF A COMMITTEE OF BROKERS. Liverroot, Jan. 18, 1856. Cortox.—A stea¢y demand from the trade was ex; rienced, but with @ cull market, and at prices rather easier than those quoted last Friday until yesterday morn! when, however, ow! to receipt of tele- ; graphic advices of the unconditional pel oe ed by Rus- sis of the propositions from the allies, the demand be- came active, and much catton being withdrawn, prices, with scme irregularity, advanced id. per lb. for the current qualities of American, whi-st the better grades were less affected. Brazil and Egyptian have been in fair request, the former at previous rates, and the latter. ata slight advance. ‘Tea,—At a sale held yesterday of 2,500 packages, chiefly with all faults, nearly the whole were sold at ir- regular prices. The sales by private contract during the week bave been very limited; but on the reseipt of news thet peace was likely to take place, a speculative de- mand sprung up for common congoun at 934. per lb., but we do nct beer of any sellers at this price. GRAIx.—The trade has scarcely yet recovered its_equi- rium after the panic caused yesterday by Pp litical news, and until the c'ose of to-day’s market quotations must be considered as merely nominal. Wheat and flour have cach met only a moderate consumptive loquiry Curing the week, ord prices have been the turn against the reller in ali instances. Indian corn continues wo be d prices remain unaltered. Oats h maintained last week’s quotations, and the same remark may also apply to Egyptian beaus, but the sale has been very limited. A. P. AND R. MAXWELL’S CIRCULAR. Livenroot, Jun. 16, 1856, ‘The arrivals from America eine Friday last are oon- fined to 4,009 quarters wheat 3.610 quarters Indian corn and 17 barrels flour. Out trade at yhe commencement of the week showed cigns of improvement, bat on receipt, yesterday, of the news that terms of peace had been ac- cepted by Russia, business became completely paralyzed, and prices must, therefore, be considered quite nomiosl WRIGHT, JUNIOR, AND CO.’3 CIRCULAR. Liverroot, Jan, 18, 1856. Our Jast cirenlar was dated 11th instant, and forwarded per Baltic, at which time our eotton market wore a heavy sppeasence, with irregularity in prices and holders gene- sally desirous of making sales, The same features cha- terised the businers in the early part of the week under review, the daily operations being mited to supplying the trace with mall quanti:ies as required, though in the sgeregate the rales were to an average extent. Specu- Jatore, however, acied upon the reserve, and the offerings far exceeding the demand, a greater choice was afforded buyers, althobgh holders evinced less disposition to press sales, and last quotstiona better represented actual va- lue.’ Rumors of the early restoration of peace continued joat about, but so faint were the hopes of sucha re- it that neither the funds nor mercantile matters were ected until yesterday morning, when the report of Rus- Ys unconditional acceptance of the proposed terms an excitement in all branches, and a sudden rise value of public securities, as well as in our pro- duce markets. ton changed hands at 44d per Ib. ad- vance, many holders whdrawing their Ls others taking advantage of the improvement to realise, under the impression that prices are as i, asis ecpeistent with an extensive copsumption, with t] mise of eo Jarge a crop as the American advices continue to hold out prospects for, It is not unlikely thst an op- posite extreme may succeed fo} period of de, sion, but, in order to cherk und: peculation, the may ee reasons for waintaining » high rete for money accommedation, and thus counterpore the more encoura- ging state of its which a termination of the war is calculated to influence; and it must also be remarked that although government have confirmed the report, and litte doubt id entertained of {ts accuracy, the — sibility of its proving otherwire admits of such an inter- pretation—the basis of the terms only betog accepted. To-day the market closes steadily at the advance, with salen of 12,000 dales, 4,000 of which are to speculators and exporters. ae ieee * Previous to the announcement of the favorable resu! to Count Esterbazy’s mission to the Court of Russia, the Manchester market was influenced by the ruling depres- sion, end spinners and manufacturers somes Used anxiety to obtain new contracts concess! In both goods and yarns equal to the decine in the raw material, ‘which were only partially successful, so indifferent were buyers to operate, An im ‘tone has siace pre- howover, a# yet, any great extension to hich are checked by the advance yalled, without, Ddusimess transactions, Ww demanded, RICHARDSON, SPENCE AND 00.’8 CIRCULAR. Liverpoot, Jan. 18, 1856, Tuendi warket wae rather a dull one. Wheat waa alow of sale at Friday’s rates, and in rome cases at 1d, per 70 Iba, decline, Flour—Unchanged in price, aud not much doing. Indian corn—Rather stiffer, but tha de- mand limited; some rales of mixed were made ut 4?a, to 42s. 4. per quarter, in store. On the follo;, peace rumore were exteanrively circulated, av.4 forevoon an announverent was posted at che By to the eltect that ““Rursia had uncon ¢sopaily the tie i Dae ig ec) 4 tirely ‘unsettled the corm t7,¢9-"*qncee . To-cay’s mar! quite s clenk. Only one «. b made, at a reduction «4, An ig aeticts in fur, ar at 40s. in store, «PEt One sale of yellow In CorT07,.'The market remained dull, and prices favced the buyer, until nearly pt yeaterd ‘ohe telegraph conveyed the news of the aecep' Russia of terms of peace; this at once induced holders to withdraw their stocks entirely from ket, or see un advance of 4d. per 1b., which q business for a time, but in the afternoon buying newed, and the rales of the dey eached 12,000 bales, one-third being for export or speculation advance of 4,4. te 44d. per Ib. on jast week’s rat day the inquiry continues good, but the market freely supplied sgein, at the rates of y: Mancrester business has in some measure avmp with this market, ond yarns are ‘4d. to ied. dearer. Micdling Orléans, 5 9-164. per ib.; J 63¢d.; vpiands, 53d. THE BXCITEMENT AT THE LONDON STOOK- BXC! (From the London Times (city article), Jan. 1 aati ,tzeltement on the Stcek Exchange to-day ( fay, Januar: en as great as upon any o9| ‘thin recollection. ‘The fands have experienced rarge of wore than three per cent, and the ope were extremely large and numerous from the coma ment to the close of business. The opening prices o fols were the eeme as thors reached after alar Jast events Damely, 8734 for money, and 975; fd account. demand for stock soon became ob nd upcn the publication of the seeond edition o ‘Ames, anvouncing the unconditional acceptance b fa of the Austrian proposals, a sudden rise occ amfd the most extraordinary sgitation, to 8834 for ney whence there was soon a further movement to while fcr the account bargains were entered iato at the market being supported at this perlod b; ence of a rise of more than four per cent in ure. Subsequently tha phrase used in the telegrap counts from Vienna, that the propositions have cepted ar a ‘basis’ of negotiations, created a feel distrust, in consequence of the experience last wint the manner in which Russia agreed to the four p then demanded, and » reastion took place to 89%. latest general transections, ‘were at 89% ¥ for miney and 89% to 903; for the 7th of February. timately there was sgain's tendency to dim: f ess ; but the operations were no: sufficiently definit establish any important change in quotations. Thro out the eptire day much of the uncertainty that vailed was caused by the non-appearance of any terial confirmation of the news, many persons fe confident tha: if it were true the government, loo! the effect it mast have on all departments of trade, wd dave lost no time in transmitting tt tothe Mansion Hq in an official form. 1¢ was only at ® late hour thet fact transpired of Sir Hamilton Seymour hw Revarcee, i Mh as an exact confirmation event ané, consequently, many persens left the without beirg fully gssured with pe Bt toit. In resg to the cieporition to weaken the force of the communi tion by attaching importance to the use of the ‘* basis,” it was remarked that the proposals were n sarily never put forward as anything but a basis fo treaty; and it appears that the private advices fr Vienna this afiernoon state that Count Nesselrode informed the Austrian Envoy that they were accep purely and simply as the toundation of prelimin pesce. Bank Pacbesrcnpee? 207 to 209; reduced, 90 34; wew three per cents., 903% to 55; ext uer bo #73, to 4; and India bonds and exchequer bids, 6s. to er naan ies, leo, I fci securities, aleo, a large amount of bu ness wan transucted. Lith exiioited the prid pal advance, the operations in the six and the fa Per cent guarranteed stocks being on a very ex sive seale, Yesterday the six per cents clo 8254. To-day seeped at 8424, advanced to 87, and iken receded 40 8 2. ultimately leaving off at 86 ‘The extreme 1ange has c peequently been 4% per cei and the 11s about 3%. The transactions at 87, 8%. Si, and 86, und for the account at 84 873, 8b, 8134, 3, $4, B6, 8634, and 85%. Thegd ranteed icur per cent serip closed yesterday 33¢ to i d count. and was first deait in to-day at 2%. Bustin en took place at %, but, sellers again appearing, th earpy irked en pierre ser eK d however, count, rhowing an improvement of about 13¢ per o All other stocks were higher :—Brazilian five per conta, Chilian three cents, 64; Danish three per cents, Feuador, 5; the new consolidated, 14; Granada now tive, 1934 and 3 ; Mexican, for the account, 201;, 20, 19 and 2034; Peruvian, for account, 76 and 7634; the th per cents, tor account, 62; Portuguese four per cents, and 4734; Russian four and « half per cents, 8754; 8 nian five per cents, 8234 and 86; for the account, 86 22) iM 86; Spanieh three per cents, 89; the new cete 24, and %; Passive, 63¢ and $;; the certificstes, %} end Dutch two aud a halt per cents, 64. ‘in Russian Fire per Cents the previous transac'to} — at 95, and the nominal quotation to day was 98 The final prices from the French Bourse this nij failed to arsive; but the Three per Cents opened at 6} 50c., and almost immediately advanced to 671. 70¢., w! is equal to an improvement of 43g per cent on the quo tlor 6 of the preceding day. The news ot the thi BS had no particular influen on the mcney market, and there was still a good dem atthe Bank of England. In tze midst of the lager citement the question as to tbe probability of further advance of the rate of discount esased to b any importarce. The arriva's of specie to-day and terdey, amounting to £866,000, likewise tended to remo anxiety on that it. Russian produce there was consid in the markets ftation, and ® disposition to suspend operatic mer opinions can be formed. Tallow, which yestercay at 678. per ewt., has 1eceded to 62s. 64. to 6 ‘This not being market day on the Uorn Exch effecton the price of wheat could not be ascertain The opening of the market to-morrow will be regard| with much interest, and great fluctuations are expect In Mincing lane the variatiors in colonial produes not extenrive, but there was a general tendensy to creased firmness. ‘The rise to-day in console, notwithstandit expendituse in present aa compared with former was not neslry so great as in previous instances of announcement of On oxeasiona, hot there was a vast difference in the point to which priq had first descended. At the peace with France in 1801 there was an {i provement from 50% to 66, and shortly afterwards to After the treaty of Amiens, in 1802, the movement from 7034 to 79. On the restoration of the Bourbons, 1814, it was from 61%, to 703, aud after the battle ‘Waterloo it was from 63% to 6034. ‘There was great excitement at the whole of the cof houses to-day when the imtelligence ee peace firet eppounced, icularly at the Baitic, among merchants and brokers connected with the Russian traq Awong the Greek firms the in‘elligence was evident; cei with disfaver. At Lloyd’s, the North and Son Awerican, the Jerusslem, end ‘the Jamaica coffee hou the ceneation created wan most remarkable, and, n¢ Ppsending doubts attempted to be wn wi) the authenticity of the information, the majority vie it with confidence, and conducted their transactions accordance with it, ‘rom the london Globe, ween myer MJ ‘The intelligence confirming the pacific news of day, though slightly modified, has not influenced Fogiish funds in any it degree. At the opening sols were quoted at the reducrd rates current after tf Official list was closed yesterday, viz.: 805, = 89% for account, but ers rnp improved, and are now markably stendy at 899/890. Money transactions b taken place at 895;, 8034, 89% and 89%. Now that tenor of the Austrian communication is known, and th some time must elapse before even preliminaries are tered into, it is probable that the funds may recede a tle as the excitement diminishes. The new three cents rule at 90% a 1034, aud the reduced three per cen 805; 0 903. ‘tbe icalars of what transpired on the Paris Bou yesterday have not yet come to band. There can be doubt that the excitement was considerable on recalp' the news from Vienna. as it is stated that the rice in French rentes was equivalent to 4% per cent. Two o’Ciock P. M.—The market is steady but qui apd congols are now about 90. The new three per ci are 903¢ a 905/; and the reduced, 9014. [From the Liverpoo! Journa), bail Loxpow, Friday eventog, Jan. 18, 1856 Frgh+h funds opened wi b slightly ciminished fi nexs, but soon recovered their tone. and throu the ay bave +hown remarkable steadiness. In do the interpretation of the statements of yesterday © tinued of the most favorable description, at operas seemed inclined to await the further developement of crisis, Money in request. Reilways exhibited rene activity, and, with » few excepticns, the final prices yerterday were well sustained. Land and bank shal koarcely #0 firm. Canaca land done at 147, closing 184 Foreign extremely ective, and at the close quotati were as below. Turkish, afer great fluctuations, ¢ food. Cone. for Money. _ Foreign. « Account,.. 803, 90 Turkish, + 86% Three per cents. 90% % Ditto ner ‘1535 3a} Rank stock = Mexicai 19% 24 Fx, bills, hi Russi a Ditto, salt } © 2 de cocsne After official hours, funds showed slightly diminis! firmnere, and console, xithout apy ostensible cause, ceded to 698% 90, which was uitimately the closing poi Turkish, 863 7; now, 1% 34 dia. [From the European Times, Jan. 19.) Much excitement and surprise have been created in commercial world by the announcement that the peror of Russia bas accepted, unconditionally, the p positions for the bases ae negotiations tendered the allies through Au At first the statement looked upon with much caution and suspicion, but on official conSrmation, the various branches of trade ite effect. ‘The opinions as to the policy of the Cz taking this step are I—many parties feeling Rursis may have some covert and aim in end endeavor to throw the allies off their guard, w! eines beers in hoe desire be Russia to sacar p in the Great preparations maki: u for the rext campaign, and the firm attitude adopted Austria, It remains to be reen, hcwever, what will ult from the scseptance, out it is to be hoped that aimaments at present will not, for a moment, be — ‘until ® ‘lasting aad honorable” peace is cured. No gerern! change can be noted in the present positt or prosperity of tie money market. The demand money, both at the Bank of England, ‘out of door and the Stock Exchange, continues very active, but} change can he noted {a rates, The news from St. P borg hac no pertioular influence on the market. In midat of the political excitement the Caro as to probability of any further advance of the rate of diseo ceared wo faye any importance, The arrivals of #) i wire tended to remove anxiety om that point. - bas been started that government have been discussing propriety of allowing an insue of SL notes, by which p it ts suagested that the metallic reserves at the Ban! Fg and might be ineressed, and a portion of the gold obtained applied to the exigencies of the war, but no thoritative falormation hie yet been put forward. . ‘The return from the Bark of England for the weel