EUROPE.—We learn by the Baltic, which arrived here on Friday, April 6, that the Vienna Conference had not only commenced its deliberations, but that the first of the Four Points had been unanimously agreed upon by all its members. This fact is confirmed by the circular of Count Nesselrode to the Russian Diplomatic Agents. Indeed, from that document one would infer that Russia was the most harmless and pacific power in the world, and that the only intention cherished by the present Czar, as well as by his father, was to be agreeable and amiable to all his neighbors. So far, then, there is nothing to hinder the speedy restoration of peace. If the Allies demanded nothing more than a joint protectorate over the Christians of Turkey, and over the Principalities, with the free navigation of the Danube, the Conference might have made peace in two days. But when they come to the destruction of Sevastopol, and the limitation of the Russian power in the Black Sea, their proposals will meet a very different reception. Russia will never submit to that demand; and unless it is abandoned the war will have to continue. The question then is whether the Allies will yield that point, or whether a compromise can be arrived at.
There cannot be any doubt that the attack of the French against the counter-approaches of the Russians in front of the Malakoff tower, on the 24th of February, was unsuccessful, in spite of Canrobert's boasting “order of the day.” On the 28th, The Times' correspondent says that “the Russians actually begin to construct another advance from their new entrenchment at Malakoff. This is besieging with a vengeance! The French seem to have given up all notion of taking this work from the Russians, who, emboldened by this success, are apparently preparing to throw up another work on the right of the new trenches, as if they had made up their minds to besiege the French at Inkermann, and attack their right flank.” Dispatches of the 6th of March again confirm the statement that the Russians are advancing with their counter-approaches toward Inkermann, and are constructing new batteries. They have received new re-enforcements; and while a Council of War of the Allies, held on the 4th, resolved to re-commence active operations, the Russian Generals had already made up their minds to do the same. The fate of the campaign of 1855 may be decided in a few days. A naval reconnaissance to Kertsh and Anapa has surprised a Russian transport on its way to the Peninsula, and destroyed several guns; the Allies, however, learned that their enemies regularly got their re-enforcements by way of Tamon as well as of Perekop.