The European news.
Into arrivals bring no confirmation of the rumor, alluded to by us a few days since, that Lord Russell has resigned. We may therefore conclude that there is no truth whatever in it, indeed, it seems to be very evident that not only the British Cabinet, but the large maturity of the British nation, are opposed to recognizing the independence of the Confederate States. Otherwise, it would be impossible for the Palmerston Ministry to exist any longer. Words of encouragement, and even of flattery, we have in abundance. But no people know better than the English the vast difference between "empty prams and solid padding," to use an expression of Edmund Burke.The Vienna report with regard to the determination of the Emperor Napoleon is hardly worthy of serious consideration. Whatever may be the designs of that personage, he is well knows to be the most inscrutable of all living statesmen, and it is not likely that he should let them escape before they had become ripe for execution. It is probable that his conversation with Messrs. Roebuck and Lind, say was designed as a feeler, after the manner of the pamphlets which he makes some one father just before he makes an important political movement. But this is a probability merely. There is little doubt that he favors the cause of the Confederacy, and, if he could obtain the concurrence of Great Britain, there is just as little that he would recognize us at once. But that consent he will not obtain, unless we should be reduced to the last extremity, of which we see no probability at present. Without the concurrence in question we are well convinced that he will not take the important step, so that we need entertain no very strong hopes from that quarter.
As we have told our people from the beginning we must fight this war out ourselves. It is vain to look for assistance elsewhere than in the valor of our soldiers, and the skill of our officers. The ridiculous cry, "cotton is king," with which we entered into it, cost more blood, and did more harm, than all the cotton that ever was raised in North America can pay for. We hope there will be no more follies of a like character; but that, having learned the value of self dependence, we will not forget it, until at least the close of the war.
