If we contemplate seriously the whole course of our foreign policy, in so far as regards Italy, we cannot fail to be impressed with the idea that the Whigs have given undue countenance to the late insurrectionary movements. Great Britain might have come forward honourably at the commencement of the Lombardy campaign to stop the effusion of blood and the horrors of war, by the offer of a timely mediation; but no such step was taken. On the contrary, our Cabinet remained quiescent and looked on approvingly, so long as success appeared to favour the Sardinian arms: it is only after the invader has been beaten back, and driven within the frontiers of his own kingdom—after Austria has redeemed by force all her Lombard territory, that Lord Palmerston, and his new ally Cavaignac, have thought fit to tender their good offices. We may safely ask—what good purpose can be achieved by this very late intervention? Who are the parties whose quarrel is to be taken up? Mr D’Israeli put the matter well when he asked,—First, what was to be the principle of this mediation; secondly, what was to be the motive of the mediation; and thirdly, what was the end proposed to be attained by the mediation? The motive, we are assured, is the preservation of peace, and we fully subscribe to its importance; but on all other matters we are left as thoroughly in the dark as ever. Really this mystery is, to say the least of it, tantalising; and we would fain know whether Austria is the party who has taken the initiative, in securing the advice of two peace-makers like Palmerston and Cavaignac. Austria has recovered the possessions guaranteed her by the faith of the leading states of Europe, has put down insurrection, and driven back in rout and terror the invading Sardinian over his own frontier. There remains no body of her revolted subjects in a position to ask for mediation. As for Charles Albert, he is not, we presume, either King of Italy or Lord of Lombardy, neither have we heard of any other claim, save that of sympathy, which could entitle him to enter into the contest. Personally he had no wrong to avenge; but having chosen to espouse the cause of the rebels, and to encounter the risks of war, he is surely not entitled, especially after defeat, to insist upon any conditions. If Austria shall choose, of her own free will and accord, to cede possession of Lombardy, it will be a mere act of grace, which cannot be demanded from her by any state in Europe. But she is clearly entitled to dictate, and not to receive conditions; and any interference with her guaranteed and fully recovered rights, either on the part of England or of France, would be tantamount to a declaration of war.