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REACTION. CONTINENTAL politics seem to be retrograding. One ex- treme begets the other. Tbat the sudden rush of demo- cratic power and influence which inundated France and Jjennany early in the year '48 should have carried men AWAY, AND hurried them into extravagant courses, ia no mat- ter of wonder at all. That so little mischief has been done in that way is to us much rather the matter of marvel and amazement. At the same time, fearful and indelible in- juries have been inflicted on the cause of true and rational freedom. In France, the gist of the difficulty seems to be found in the positive and absolute irreligiousness of the public. The unquestionable policy of the Red Republicans is neither more nor less than warfare against the very exist- ence of property and of society. So loathsomely hideous is the impulse which obviously prompts this party, that a man in this ceu itrv stands aghast at the very thought; and still in Paris, men with a name will literally countenance these licfarious designs and even General Cavaiguae will not give the existing Government active support to repress their pes- tilent proceedings. All Europe is deeply indebted to Louis Napoleon and his Cabinet, for the peaceful attitude they have so determinedly maintained. By common consent Louis Napoleon was fooked upon as a kind of modern Don Quixote. He has, however, proved himself to be a person d good sense, with a sagacioils estimate of the difficulties and the advantages OF his position, and a profound impres- sion of the importance of France attending to her own affairs. We wish him all success and good speed. In Italy, the Republicans seemed doomed to ruin themselves and their cause. Intemperance in spirit and language, and irre- solution in conduct, eminently distinguish them, wherever thoy have had temporary power. For the present, we can sec no rational prospect for the cause of Italian independence; in fact, all Italy is at this moment in the power of Austria, ATID tha terms will depend upon so many contingencies, but almost all of them having little or no reference to the Italians themselves and their preferences, that it is impos- sibie to guess what a month, or even a week, may bring forth. According to our last advices, the restoration of the Pope and of the Grand Duke of Tuscany seems to be deter mined upon by the principal Catholic powers. The restora.- tion JQ £ tho former, to civil power will be a very remarkable THI:I £ and will put many questions of an ecclesiastico-poli- tical character into another light than that in which they now appear. The Diet of Frankfort has elected the King of Prussia Emperor of Germany. The deputation has waited upon his Majesty, and has had an answer. The nature of the reply it is difficult to characterise. He says yes and no. It is a very coy affair indeed. He will become Emperor;, of Ger- many, but then he won't. Ho will if it must be he won't, unless all the. kingdoms and principalities of which the ,said empire is to consist agree to it, and will unite in the request to him to do so. We fancy we can understand why he does not like it, and still why he would like to have it. It is a nominal honour,—to be chief of the German iiations,-to re- ceive a kind of fealty from all Kings and Princes of Ger- man race,—they all to continue still as independent as they are now. To be obliged to attend to many affairs be- sides those of his own nation, and for that to have a little empty honour,^—infinite trouble, and much and frequent abuse. It was said of the Germans forty years ago, that as Buonaparte had taken the land, and the English had taken the sea, they had nothing to do but to take the sky, and look up, smoke, and dream. And one of the richest dreams in modern times we take to be this central German empire, and we presume it will soon "vanish into thin air." At home very few stirring events are occurring. The Ministry is about as weak as it can well be, and lives by sufferance of Sir Robert Peel, and other opponents to its policy and principles. We doubt whether we are justified in using such a phrase for enlightened and comprehensive policy Lord John seems to have none; and for principles these are mere "leather and prunella." The Navigation Bill drags along, stripped of several of its most important Z5 clauses, and has nearly got into the House of Lords. When and how it emerges thence is another question, of which we are not now disposed to speak particularly. The Irish liate-in- Aid Bill drags its slow length along, and is an apt illus- c!1 tration of Whig policy—anything, everything to meet the wants of the day, and nothing more. The Whigs certainly do believe, whether they do it out of respect to the authority that utters it, is another question, that Sufficient to the day is the evil thereof." Measures for the nonce they patch and bolster, caring nothing for the condition of the Irish people next year and onward, as though the province of rulers was confined to the present tpoment, and had nothing to do with the progressive happiness and prosperity of a nation. 0 We have, in fine, to notify the fact that Mr. Shore is in Exeter gaol, and the Bishop in his palace. Is it not a capital contrast ?