The several correspondents in Paris mention a report that the
Emperor, aware that with Spain in flames he cannot go to war, intends next week to issue a great manifesto to his people, ex- plaining his policy, granting liberal reforms, and either promising or proposing a disarmament. It is, moreover, stated demi-officially that 30,000 soldiers have been sent to their homes, and that the French army now numbers only 350,000 men. The last statement -does not matter much, as the reserves would speedily bring up its -strength ; but it seems to be seriously believed that war is much less probable than it was. The revolution has deprived France of an ally who might have aided her against Italy, and at all events was sure not to threaten her southern frontier. The funds have risen in consequence in Paris, and a formal declaration that the Emperor seeks peace might for once have a great effect.
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