"I am just returned from Hungary. I was exceedingly surprised to see so much enthusiasm. My candid opinion is that, even if the Russians join against them, the Hungarians will be victorious. They are certainly short of arms; if they could procure one or two hundred thousand muskets, the affair would be closed immediately. In the mountains the cultivation of the land proceeds as usual, although the whole neighbourhood was full of contending troops. As I came out of Hungary, the advanced guards were only two German miles apart. However, I found no inconvenience; the roads were quite safe; and if it were not for the guerillas, whom one expects every minute to issue from the woods, the thing would go on, for a stranger, comfortably enough. The new paper-money (Kossuth's) is taken everywhere, not only for the common necessaries of life, but also for large business transactions--the idea being that there is about equal security for Hungarian as for the Austrian bank-notes." It must be confessed, that in circumstances calculated to try her prudence, Russia has acted with singular composure and wisdom. She abstained from interfering in the affairs of western Europe while the tide of republican frenzy was in flood. She contented herself with carefully and diligently increasing and organising her army--then, probably, in a more inefficient state than at any time during the last thirty years--and gradually concentrated her disposable troops on her western frontier, where magazines have been prepared for it. While continental Europe was convulsed by revolutions, she made no aggression--the occupation of Wallachia and Moldavia was her only move in advance. She avoided giving umbrage to the people, to the sovereigns, or to the successive governments that were formed, and established a right to demand confidence in her moderation and forbearance. She came to the aid of Austria at first with a small force in a distant province, just sufficient to show that the Austrian government had her support, and not enough to excite the jealousy of Germany. Now that her military preparations are completed, she comes to protect Austria, not until she is called, and at a time when the most formidable dangers she has to encounter are such as the friends of order, triumphant in the west, and we trust dominant everywhere, would be the last to evoke. Yet it is impossible to deny that the successful execution of her present project would be a great revolution--that it would more seriously derange the relative positions of nations, and the balance of power, than any or all of those revolutions which the two last eventful years have witnessed.