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Later from Europe.
arrival of the Australasian.
the European press on the Trent affair.
&c., &c., &c.,

Halifax, Dec. 26.
--The steamer Australasian arrived at Halifax to-day, with 1,265 soldiers, a field battery, etc.

Per steamer Niagara, which also arrived here to-day, it is estimated that about 12,000 troops will be sent to Canada. Two battailous of the Guards were expected to sail on the 18th instant, in the steamers Adriatic and Parana.

The Paris correspondent of the London Globs says, that Count Thouvenel's dispatch to M. Mercler, the French Minister at London, is known to have confined the Federal Executive to the simple dilemma:--are the Southerners belligerents or rebels? They have been flatly refused any rights in the first capacity, and in the second the right of asylum acquired by political refugees has been set at naught, and France must make the case of the Trent substantially her own.

The Paris Presse says that Gen. Scott's mission appears to have been arranged so as to allow him time to fulfill it before the ultimatum of England is remitted, and perhaps modify the nature of this step on the part of England.

The Pays, on the contrary, asserts that the English ultimatum will be of an absolute character.

The times publishes a letter from Thurlow Weed, defending the American government, and Mr. Seward in particular, from the allowed charge of hostile intentions towards England. The Times says that England ask nothing from America, but that she shall abstain from actual outrage, and that if committed, she shall make reasonable reparation, if not the alternative will not come in the desired form of protracted negotiation.

No cavalry or horse artillery for Canada will be sent till spring.

The London Herald takes strong ground against the News' argument in favor of arbitration and says that negotiations cannot be listened to while Messrs. Mason and Slidell are detained as prisoners.

The Sheflield "Foreign Affairs Committee" had petitioned Government to visit its high displeasure on Captain Moir and Commander Williams for having, in the Trent affair, violated the Queen's proclamation, and thereby show to America that England's neutrality is strict and impartial.

Prussia has rejected Deamark's proposition for a settlement of the Holstein question.

Commercial Intelligence.

Liverpool, Dec. 14.
--Cotton closed flat, but prices unchanged. Sales 4,000 bales.

Breadstuffs closed quiet but steady. Provisions closed firm.

Consols closed at 90¼ a 90⅜.

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