The Emperor opened the Session of 1860 on Thursday with
a speech which must arrest the attention of Europe. It will be found to contain three important statements. First, that ex- planation of his policy in Italy which limits the range of an- nexation to the duchies of Modena and Parma, preserving an independent government in Tuscany, and some undefined con- nexion between the Romagna and the Papal Court. Secondly, we have a distinct avowal that, Piedmont being territorially aggrandized, France will prefer a claim to the French slopes of the Alps and explain the whole question to the Great Powers. Thirdly, we have a broad and convincing exposition of the new commercial policy of France, and the declaration that, in order to front a great opposition, the Emperor took the responsibility of the change upon himself. The Emperor also pointedly states that he sincerely desires peace, and will neglect nothing to main- tain it ; and he emphatically describes the commercial treaty as destined to fortify the alliance of two great peoples.
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