20 APRIL 1867, Page 1

M. de Calonge, the Spanish Foreign Secretary, is a much

cleverer- man than anybody gave him credit for being. He has found out a plan by which he can concede Lord Stanley's demands and con- ciliate Spanish pride at the same time. He told the Cortes he would " uphold the honour and independence of Spanish tribunals," which, as it looked like defiance, was very highly approved. He then caused the Prize Court at Cadiz, which is, we imagine, merely the local Revenue Board over again, and not what we call a Court at all, to call up its decree and reverse it, declaring the seizure of the Queen Victoria illegal. This has been done, and consequently to yield to Lord Stanley is to uphold Spanish judicial decrees, and everybody is content except poor Francisco Hombdes, who traded under British guarantee, and has not received any cash yet. We suppose when it comes it will be called "costs," not " composes- tion."