18 NOVEMBER 1865, Page 3

The Times has deputed a special correspondent to Madrid, who

reports that the three divisions of the Liberal party are unanimous in believing that nothing can be accomplished in Spain without the overthrow of the dynasty. They are not, however, decided as to a successor, or even as to the next form of government, a some- what serious difficulty in the way of a successful revolution. The natural course would be the election of the King of Portugal, and the consequent union of the Peninsula ; but the Spaniards hanker after a real. Sovereign, which Don Pedro is not fitted to be.