Yes, "all is well, tho' faith and form be sunder'd" in temporary crises;
that is, one must believe in ultimate good, even when the immediate
circumstances are most adverse. The storm will rage below on earth, before
truth and justice can be firmly established.
"The red fool-fury of the Seine"
does not specially refer to the Revolution of 1848, as it was _probably
written long before_ '48.
Such convulsions will cease at last; there is calm beyond; and, even
whilst they last,
"thou, dear spirit, happy star,
O'erlook'st the tumult from afar,
And smilest, knowing all is well."