The Austrian Treaty of Commerce is not so one-sided as
it was alleged to be. It appears from the text published in the Gazette of the 9th inst., that while Austria promises from January, 1867, to levy no duties heavier than 25 per cent. ad valorem, to place Great Britain among the most favoured nations, and to concede to British traders in Austria all the legal rights belonging to Austrian traders, our Government has pledged itself to recommend the abolition of the timber duties, and the reduc- tion of the duties on wine in bottle to the amount payable on wine in wood. The loss by the latter reduction will probably be small, from the increase in import, and the timber duties have not realized half a million a year. The trade with Austria being almost entirely new, will probably be very large.