10 JUNE 1854, Page 8

"A leading member of Prd Derby's Government "—the story has

no less a source, and perhaps we ought to say the "leading member of Lord Derby's Cabinet," which was assuredly not Lord Derby himself—. has been circulating the glad tidings that we are on the eve of peace ! The tale runs thus : The Czar has accepted the propositions of Austria ; Louis Napoleon is very much inclined to close with the Czar's counter- propositions ; and it only remains to be seen what "the Coalition" will do with that situation. Perhaps the newspaper representatives of "a leading member" might dress up this glad news in a more im- posing form, but "we tell the tale as it was told to us" by another M.P. of a different Opposition section, yesterday afternoon. Perhaps, too, it may enable some of the disappointed Bears to retrieve their late losses in "speculating for the fall," with new gains in speculating for the rise.