30 DECEMBER 1865, Page 2

The Qs en of Spain opened the Cortes on the

27th inst., in a very meaningless speech. Her Majesty states that she will give an account of the progress of the war with Chili, but is " desirous of respecting the independence of the States of South America founded on the ancient colonies of Spain," and has therefore recognized the independence of San Salvador,—which be- came independent some quarter of a century ago. She has re- cognized Italy but is devoted to the Holy Father, wishes taxation increased and expenditure reduced, proposes to " harmonize the interests of local administrations with the interests of Govern- ment," and will prevent the slave trade in the Antilles—not a bad programme, if only it meant anything except the additional taxes. 2 hey will probably be realities.