The German mists grow thicker. All that can now be affirmed with certainty is, that the Dresden Conference has been no more able to improvise a German Empire than was the Frankfort Parliament. A month ago, and it seemed that Austria had outgeneraled Prussia, and made herself absolute mistress of Germany, and was in a fair way to become ruler from the Rhine to the Alps. The petty states of Germany were in alarm; the kingdoms of the second rank began to see themselves in danger, and to talk of a central power, from which the constitutional element was not altogether excluded. It is now said that the King of Prussia is again ambitious of playing the first part on the German stage, and has refused to sanction the concessions made by his minister. It seems probable that Germany will fall back upon the old Frankfort Confederation. In the mean time, we present the following, as what seems to us the condition and designs of the principal parties; premising that the very next intelligence may present them under an altogether new aspect:--Austria wishes to enter the Germanic Confederation with all her vast and heterogeneous population; thus binding all Germany to assist her, in the event of any new Hungarian or Italian outbreak. She also wishes to secure the Federal Executive. If she succeeds in these projects, the weight of her foreign possessions gives her the preponderance in Germany, while Germany secures to her the control of her foreign territories. The interests of the people and princes of Germany for once coincide in opposing this claim. The vacillating policy of Prussia has arisen from doubt, whether more could be made out of Austria by putting herself at the head of the German States, or out of these States, by joining with Austria. The ultimate decision of this question is more likely to be effected by accident than by settled policy. ITALY. The feelings of uneasiness, and vague apprehension of insurrection throughout the Italian Peninsula are nowise abated. Austrian troops are concentrating within her Italian territories. The railroad across the Milan Alps, from Cilly to Trieste, is advancing with great rapidity. The completion of this road will enable Austrian troops to be sent from Vienna to Milan in twenty-four hours. The Austrian Government has issued an ordonnance directing that in those parts of Italy which are still considered in a state of siege, no journal shall mention in any way, directly or indirectly, the titles of the prohibited revolutionary books and pamphlets which are in circulation among the people.