The Times published on Tuesday a telegram from its Berlin
correspondent containing the terms of peace alleged to have been given by Count Bismarck to M. Favre, and by him referred to the Constituent Assembly to be called at Bordeaux. These terms are the cession of Alsace and Lorraine, including Metz and Belfort, and the colony of Pondicherry ; the surrender of 20 of the largest ships of the war navy, that is of the whole French ironclad fleet ; and the payment of an indemnity of " ten milliards of francs," or four hundred millions sterling. This last demand is equivalent, at the present prices of French funds, to an order to triple the French National Debt at a blow, raising it from 500 millions to 1,500. These demands are so outrageous, so utterly beyond the wildest anticipations, that the mind refuses to credit them. If they are correct, it will be the clear duty of the neutral Governments to aid France in resisting them by force. Other- wise the grand check on war will be removed, wars for mere plunder will recommence and civilization will be destroyed. Penal additions to national debts are absolutely fatal to credit. The cession of Metz makes France a political dependency of Germany, and the pecuniary demand renders her a powerless one. Can Europe endure that situation of affairs ?
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