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the territory they have been hitherto holding. The acceptance of the Archduke Maximilian, contrary to the vaticination of the New York Herald, is a harbinger of glad tidings to the Confederacy. The programme laid down in the pamphlet of M. Chevalier is still fresh in the memory of the public. Maximilian was to be crowned Emperor of Mexico. An army of merchants was to follow in the wake of Forey's army. The resources of Mexico were to be developed to their fullest extent. But first of low. Spain and Austria would not be long behind — England, slowly and reluctantly, was to follow, having been preceded by Belgium, and the Confederacy in that way was to take her stand among the powers of the earth. We have never doubted that Chevalier's pamphlet was written at the instigation of the Emperor, nor do we doubt that the programme therein laid down will be strictly followed. To conclude, in our view the prospects of the Confederacy were never so brilliant as they are now, an