7 JUNE 1851, Page 2

The Frankfort Diet, after having been formally constituted on the

15th of May, "met for despatch of business" on the 30th. The only business transacted was the appointment of a committee of seven to examine and report on the minutes and protocols of the Dresden Conference. The Ring of Prussia is to have an interview With the Emperor of Austria at Olmutz. A circular issued by Manteuffel declares that the old Provincial Diets which existed before 1848 are revived provisionally. The reason assigned is that the classified income-tax can only be raised by the agency of these bodies : but the real object aimed at is understood to be the gra- dual substitution of these Provincial Legislatures for the National Chambers. The Bavarian Government is negotiating a loan of 3,600,0001., to be spread over a space of four years. It is pretended that this money is needed to complete the Bavarian railways : in reality it is required to extricate the Government from liabili- ties contracted in the endeavour to play the part of a first-rate European power. Bavaria bids fair to rival Austria in financial

embarrassments.