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Still later from Europe.

The steamer Columbia, with Liverpool advices to the 29th ult., arrived at St. John's on the 9th inst. She brings the following news:

Earl Russell made an important speech on foreign affairs, at Blair Gourie, Scotland, and referred at considerable length to the American question. He justified England in recognizing the Confederates as belligerents, and answered some imputations brought by the people of the North, particularly the speech of Senator Sumner. He also replied to the complaint of the South in regard to the recognition of the blockade, and asserted that although self-interest demanded that England should break it she prefers the course of honor, as it would have been infamous to break it.

He showed that the Government had not sufficient evidence against the Alabama to detain her until after she had sailed, and explained the difficulties in the way of interference in such cases. He drew a line between ordinary vessels equipped for war purposes and steam rams, which, in themselves, were formed for acts of offence, and might be used without ever touching the Confederate shores. He asserted that the Government was ready to do everything just to a friendly nation, and such as they would wish done to themselves, but would not yield one jot of its right to the menace of foreign powers.

He complimented the Federal Government and Mr. Seward upon the fairness with which they discussed the matters of difference, but said there were others, including Senator Sumner, who had acted differently. He denounced the efforts of those who sought to create trouble between America and Europe, and with expressions of friendship towards America he asserted that all his efforts would be to maintain peace.

Speaking of Poland, he defended England's position and remonstrated against that of Russia, but did not think that England should go to war on the subject. As regards Mexico, he thought that if the Mexicans approved of what was being done for them they should be allowed to do so.

The London Times says Earl Russell in this speech is interpreted as meaning that the vessels will be detained, even if the existing law is in their favor, and Parliament be called to pass measures for the purpose.

European political news is unimportant.

The Paris Memorial Diplomatique, writing on the Polish question, strongly denounces the course of England and Austria, and speaks in tones of strong hostility against the two powers.

The Liverpool cotton market closed firm, with an upward tendency. Breadstuffs still declining.

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