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European intervention. European intervention — that ignis fatuus which was allowed to operate so injuriously to our cause in the beginning of this war, and the probability of which seems as remote as ever — has not yet lost all its terrors for the Yankees. The London correspondent of the New York Times, under the date of May 9, thus gives expression to his fears that something of the sort may yet come to pass. We give his comments upon the subject, without attaching much importance to them, but as an exemplification of the ever-changing currents of public rumor in England: "Quiet as everything now seems with regard to American affairs, there are many signs of a confidence, amounting to certainly, that the American war is not to last much longer. The Government is about to employ the people of Lancashire on public works, so that they may not emigrate, but be ready to spin the cotton when it comes. A line of steamers of 3,000 to 4,000 tons is being built expressly to bri