NEWS OF THE WEEK
OME change, not yet perceptible to Europe, has taken place 1..) in the ideas of the men in power in Pekin. Last week it was believed that Lord Granville's effort to mediate between France and China had succeeded, and that an agreement, based on the uti possideas, would speedily be signed. Under this arrange- ment China would have retained the frontier fortresses of Ton- quin, which are of little importance during peace, and France would have retained Kelung and its coal-mines, which she really wants. On Wednesday, however, it was officially an- nounced, both in London and Paris, that negotiations had been broken off under orders from Pekin, and it was suggested that the Chinese had received good intelligence from Tonquin. That is possible ; but it is more probable that the Chinese statesmen have resolved to make one effort with their Ironclad Fleet. If they can defeat Admiral Conrbet and raise the blockade of Formosa, they are masters of the situation, for they can cut off France from Tonquin ; and if they are defeated, very little is changed. Their Fleet will have disappeared ; but an Ironclad Fleet which will not or cannot meet its enemy in open water is a very costly plaything, and may as well be lost as not. The French will be no nearer Pekin.
