25 MAY 1867, Page 2

The Kaiser opened the Reidhsrath on the 22nd inst., in

a very constitutional speech. He had, he said, kept the establish- ment of constitutional institutions on a sure basis unswervingly in view, had effected an arrangement with Hungary, and hoped for the consent of the Reichsrath to a measure which restored Austria's position in the European equilibrium. Bills sanctioning the new arrangements and establishing Ministerial responsibility would be submitted, and the Emperor trusted to the Reichsrath for extrication from financial difficulties. As to foreign affairs, "let not a secret thought of revenge guide our steps," but seek power in reconciling together, as of old, the Austrian peoples. The speech was applauded, but somehow it reads daily, -as if the Emperor, while preaching hope himself, felt none. We are assured that the tone of the German populations is dispirited to the last degree, and that Viennese politicians doubt if the Luxem- burg peace will benefit them. Bismarck, they say, hits hard at enemies in his rear.