13 AUGUST 1881, Page 2

M. Ferry on Wednesday made a speech at Nancy, in

which, in deference to M. Gambetta, he gave up the epigrammatic watchword which he suggested at Epinal, "Ni r6vision, ni division ;" arid admitted that very moderate Republicans may be in favour of certain amendments in the con- stitution of the Senate, such as M. Gambetta's speech at Tours sketched out. He himself is not favourable, apparently, even to such a revision, but he would not quarrel with those who are ; he thinks that while there is no real difference between the Government and the moderate revisionists, there is a great chasm between the moderate revisionists and those who wish to cast the Constitution into the cauldron, and wholly regenerate the principles on which it is founded. Evidently, M. Ferry cannot afford to quarrel with M. Gambetta ;—not even the epigrammatic election cry of which he was the originator, is worth so grave a risk as that.