It seems to be quite certain that Russia, all her
'promises motwithstanding, has annexed Khiva. She has not indeed 'occupied the Khanate, but has compelled the Khan by regular -treaty to cede part of it, to surrender the absolute control of his rivers to the Russians, and to declare himself for the remainder 'of his territory the vassal, or rather the agent, of thg Russian 'Government The Khan cannot even hold communications with any other -poiver, and is, if he keeps his engagements, to all -intents and purposes a Russian official. This is not pleasant in- telligence, more especially if the real object of this conquest is not an attack on India, in which the Khan could give little help, but on Persia, in which 'he could give much. It is that State, and not our possessions, which is, as we believe, directly in clanger, the object of the permanent policy of St. Petersburg being now, m ever, Constantinople. If ever Russia could catch an hour when England was hampered, India embarrassed, and France anxious to curry favour, the Shah's power would be in most serious danger, and it is conceivable that Russia thinks that hour has arrived now. The probability is that she does not, but there should be keen, unsleeping watchfulness at Constantinople.