15 AUGUST 1863, Page 2

The proclamation of the Empire has greatly irritated all "North

Americans. So long ago as March 3, 1862, Mr. Seward formally protested against the establishment of a monarchy in Mexico as "injurious and inimical," and Americans now believe that it is almost an act of hostility. They argue that the Emperor Napoleon is not the man to do great acts rashly, and that he must be aware his Empire cannot stand alone. Looking round for props, they find none except an alliance with the South, and, to secure that alliance, they think that the Emperor will intervene in the civil war. Mr. Davis, it is believed, has offered to recognize Mexico on condition of French assistance, and even agreed to. some terms intended either to ameliorate slavery or to soothe the French people with an idea that that object has been secured. These rumours seem unusually well authenticated ; but there is one great fact to the contrary. Even Napoleon will not com- mence great wars in America and Europe at once, and he is far too wise to give Russia the opportunity of setting him at open defiance. It would be cheaper to garrison Mexico with French troops paid out of Mexican funds, than for France to wage for a German potentate a war with the Anglo-Saxon Republic.