7 SEPTEMBER 1872, Page 1

All sorts of speculations of exceedingly little value are put

about as to the real drift and meaning of the triangular duel which is to take place among the three Imperial Ministers. It is obvious enough that what Prince Bismarck must wish is to get and give mutual guarantees of the status quo, so far as that is possible,—to render it plain to French statesmen that they will have no support from either Austria or Russia in any scheme of vengeance against Germany. But the difficulty is to find a quid pro quo for both Austria and Russia. Germany could undertake to wink hard at the designs of Russia In the East, on condition Russia threw over France,—but then that would not suit Austria. Or Germany could undertake to secure Austria on the Danube against the ambition of Russia, but then that would not suit Russia ; nor is it very clear what equivalent Prince Bismarck can offer to Austria for her alliance against France which would not cause the deepest dismay in Russia. No doubt Prince Bismarck will do his best to patch up a more cordial understanding between Francis Joseph and the Czar, on one strict condition at least, that there be no dabbling in a reconstruction of Poland,—a policy which the Prince detests even more than he fears the renewed spring of France. But why should Austria concede even as much as this ? Generosity to Galicia and the neighbouring Polish provinces is one of the beet cards in Austria's band in playing with Russia.