To English statesmen of all parties (with one or two exceptions) it was apparent that the declaration of war by France on Austria was the destruction of the great compact of 1815, which (whatever may have been its defects) had given forty-four years of peace to the Continent of Europe, and which had survived the Revolution of 1848 and the Crimean contest of 1854. It was the first outbreak of the military power of the French Empire and it was likely to lead to future wars, as the result has proved. The defeat of Austria and the dissolution of the Germanic Confederation in 1866 was the result of the combined action of Prussia and Italy, north and south of the Alps; and the Franco-German War of 1870 was the result of the military ascendency Prussia had thus acquired in Europe. The policy of England was simply based on the principle that the duration of peace depended on the maintenance of the existing territorial arrangements of Europe.] _March 1st._--According to all political calculations Cowley's mission ought to succeed, but I feel no confidence in his success, and rather believe that the Emperor Napoleon is acting with his usual duplicity and treachery, and duping Cowley to gain time, which is necessary to his plans.[1] It is revolting to see that the peace of the world and so much of the happiness or misery of mankind depend upon the caprice and will and the selfish objects and motives of a worthless upstart and adventurer, who is destitute of every principle of honour, good faith, or humanity, but who is unfortunately invested with an enormous power for good or evil. And this is the end of fifty years of incessant movement, of the progress of society, of the activity and development of the human intellect in the country which is eternally mouthing about its superior civilisation and its mission to extend the benefits of that civilisation over the whole world. Disraeli brought forward his Reform Bill last night in a well-set speech, only too elaborate. It was coolly received, except by its most angry opponents, who lost no time in denouncing it. Footnote 1: [This was the fact. It was not known until long afterwards that positive engagements had been entered into at Plombières between the Emperor and M. de Cavour in the preceding autumn, including the marriage of Prince Napoleon to the daughter of the King of Sardinia, and the cession of Savoy and Nice as a compensation for the conquest of Northern Italy. Cavour had the Emperor in his power, and threatened, if he drew back, to publish the correspondence.] [Sidenote: THE GOVERNMENT REFORM BILL.]