18 NOVEMBER 1865, Page 3

The meeting of the French Chambers being at hand, reductions

have been found necessary to make the budget endurable. The Moniteur therefore of the 16th inst. contains a decree reducing the army by about 21,000 infantry and 19,000 men of all Other arms, with some 8,000 horses. The men are to return to their homes and the officers are placed on half-pay, with pre- ferential claims to employment in the civil service. The reduction is very considerable, and will save about 2,000,0001. a year, but it must be noticed that a portion of the men dismissed can be recalled to the standards at very short notice. The reduction will not be very popular with the general body of officers, whole pro- motion, as Marshal Bandon explains, will be checked, but the men enjoy their release. A side effect of the order will be to enable the Government of Italy to defend a similar reduction, and the precedent will probably be quoted in England. It may also afford the Emperor a pretext for withdrawing his garrison from Mexico.