P.S.—I was in hopes that I should have been able to tell you of the withdrawal of the decree relative to the property of the Orleans family. The withdrawal was announced in the _Constitutionnel_ of yesterday; but I regret to add was contradicted in the _Patrie_ last evening. I need not observe to you that it is an act for which there is no defence, moral or political. It has immensely weakened the Government. The change of Ministry is also a great misfortune to Louis Napoleon. M. de Morny, said to be a son of Queen Hortense (if you believe the people in the _salons_, the President is not the son of his father, and everybody else is the son of his mother), was a statesman of the class best exemplified in England by the late Lord Melbourne—an acute, witty, fashionable man, acquainted with Parisian persons and things, and a consummate judge of public opinion. M. Persigny was in exile with the President, is said to be much attached to him, to repeat his sentiments and exaggerate his prejudices. I need not point out which of the two is just now the sounder counsellor. LETTER V. _ON THE CONSTITUTION OF THE PRINCE-PRESIDENT._ SIR,—The many failures of the French in the attempt to establish a predominantly Parliamentary Government have a strong family likeness. Speaking a little roughly, I shall be right in saying that the Constitutions of France have perished, both lately and formerly, either in a street-row or under the violence of a military power, aided and abetted by a diffused dread of impending street-rows, and a painful experience of the effects of past ones. Thus the Constitution of 1791 (the first of the old series) perished on August 10, amid the exultation of the brewer Santerre. The last of the old series fell on the 18 Brumaire, under the hands of Napoleon, when the 5 per cents. were at 12, the whole country in disorder, and all ruinable persons ruined. The Monarchy of 1830 began in the riot of the three days, and ended in the riot of February 24; the Republic of February perished but yesterday, mainly from terror that Paris might again see such days as the ‘days of June.’