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Later from Europe.

The Arabia, from Liverpool, brings European dates of the 5th inst.

The bark Jeff. Davis, belonging to what is known in England as the "Dixie Lilac" was launched lately at Liverpool for the Confederate service. She is a consort of the Virginia and Richmond lately completed for the Confederate Government.

It is probable that there will be a "scrub race" for the crown of Mexico. As it is very likely that the Archduke Maximilian will decline the proffered honor, the names of Prince Mural, of France, and M. Patterson Bonaparte, of the United States, are now mentioned in connection with the position. M. Patterson Bonaparte is said to be the favorite of the Emperor Napoleon.

The deputation dispatched by the Council of Notables of Mexico to Europe, in order to formally tender the new crown to the Austrian Archduke, was daily looked for in Paris when the Arabia sailed. This body consists of eight persons, and to them Maximilian must give a decisive reply. La France, of Paris, says that it is of very great importance that his final answer should be known before next New Year's day.

A very spirited analysis of the new French pamphlet, by M. Chevalier, on the Mexico, American question, appears in the London Times. M. Chevalier maintains that France should hasten to recognize the Confederacy from Mexico, and thus, by being the first to do so, gain the friendly alliance and trade of the new nation. In this he thinks the Emperor would have the support of all the minor commercial nations of Europe at least. He recommends a large emigration of Frenchmen to Mexico, the elevation and sustainment of the Latin race on the American continent, and the firm establishment of the new empire.

The Paris Moniteur, of the 4th inst., officially announces that, by virtue of the rights of belligerents, accorded by France to the Confederate States of the South, the Confederate steamer Florida, now snugly ensconced in the harbor of Brest, has been authorized to remain there long enough to complete her repairs.

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