NEWS OF THE WEEK.
• THE European situation remains unchanged. The Powers still talk of peace, and the financial speculators are much more cheerful ; but with the exception of the increasing proba- bility that Prince Bismarck will carry the elections, the few incidents certainly known are not peaceful. General Boulanger has obtained his credits without a division ; Austria has pro- hibited the export of horses, to the dismay of those Hungarian magnates who live by breeding them ; Belgium has voted money for further fortifications. M. Katkoff, the Russian publicist whom the Emperor favours, has roundly told Prince Bismarck, in the Moscato Gazette, that he must be contented with what Germany has, and not allow Austria to thwart Russia, or Germany will suffer ; and this article was forwarded by the official telegraphing department to all the Vienna papers. Finally, it is stated, though this requires confirmation, that the Russian squadron in the Mediterranean has been ordered into Japanese waters, "where a powerful fleet will be collected." If that is true, the Russian Government expects war, and war with either England or Ger- many. Precisely the same course was taken before the Crimean War, the only waters in which the Russian squadrons can inflict great damage being the Asiatic. Calcutta is beyond attack ; but we question if either Bombay, Madras, or Rangoon is. Saghalien, too, would be the best point from which to commence an attack on the most important section of German commerce. The Russian Government has also called out 100,000 Reservists ; but in view of her endless supply of men, that is comparatively unimportant.
