The last portion of the French indemnity is to be
paid to- day, France having raised in three years rather more than £200,000,000. For this she has to pay on the average 6 per cent., and will therefore, until she exacts her money back, pay to Germany a tribute of £12,000,000 a year. To have even a hope of such a result, she must, however, detach Italy or secure Austria, and just now she is alienating both, Italy by threats against Rome, and Austria by neglect. So deep is the fear in Italy, that Victor Emanuel is going to Berlin, and it is in many places believed that the election of the Comte de Chambord would be the signal for a declaration of war by the two Powers. We do not believe that, but the election of a clerically-minded Sovereign would certainly compel Italy to adhere closely to her German ally.
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