NEWS OF THE WEEK.
BRAZIL has gone through another revolution. The Con- gress elected after the expulsion of the Emperor Pedro legalised the acts of the Provisional Government, and appointed Marshal Fonseca President, with the great powers usually granted to a President in an American Republic. They also passed laws, imperfectly transmitted to Europe, intended to " develop the country," among which were large bounties upon immigration, which produced the great movement among Jews in Austria, and laws establishing an almost inconvertible paper currency. These latter were followed by a burst of speculation and much financial embarrass- ment, amidst which the premium on gold rose to 120. The Marshal wished to emit more paper currency, but the Con- gress quarrelled with him, and at last passed a law over his head providing for his impeachment in certain contingencies, and, we rather imagine, transcending its constitutional powers. The Marshal thereupon dissolved it by military force, declared himself Dictator, and proclaimed martial law. No further results have been telegraphed, but there is a rumour of fighting in Rio. The price of Brazilian stock, which almost touched par three years ago, is now 60, and, of course, more paper currency will be flung upon the market. The point now, as always, is whether the provinces, especially Bahia and Rio Grande do Sul, will bear these acts of oppression, as, if they do not, Brazil will split into many Republics. There is no force in the country outside the Army, except in Rio Grande do Sul, where there are many thousands of German immigrants who have passed through the military mill, and are capable of resisting the soldiery.
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