NEWS OF THE WEEK.
THE world has moved fast this week. On Sunday London received the intelligence that the Czar, after consulting his heir, his principal Ministers, General Ignatieff, and the Roumanian Government, had decided that the six months' armistice could not be accepted, and the war must either go on, or Turkey grant a truce of six weeks and adminis- trative autonomy to the Provinces. On Tuesday it was known that Austria, on whose alliance the Cabinet had relied, bad decided to remain neutral, demanding, if necessary, com- pensations in Turkish territory ; and on Friday the Times announced that the British Cabinet, which had been hurriedly .summoned for three o'clock on Thursday, would not declare war, would not send an army to Turkey, would not even summon Parlia- ment for an autumn Session. In other words, and speaking 'broadly, in one week Russia has decided to liberate the Christians of 'Turkey, and Europe has decided to leave the Ottomans to defend themselves by their own resources. Pending the decision, Tues- day and Wednesday were days of great excitement, especially on 'Change, where Russian stocks fell seven per cent. in six hours, and " Hungarians " became almost unsaleable, and every stock receded more or less, including Consols, which have declined since last Friday more than two per cent.
