NEWS OF THE WEEK.
TI HUNG CHANG left Tientsin on Thursday in a German A steamer for Japan, to commence the negotiations for peace. He has obtained full powers, and is authorised, it is stated, to offer a large indemnity and a cession of territory. The Japanese decline to grant any armistice until the bases of the Treaty have been settled, and will, it is believed in the Treaty Ports, demand the independence of Corea, the cession of Formosa to Japan, and a grant of territory on the main- land, stretching from Moukden south to the Great Wall and port of Shan-hai-kwan, the port at which the Wall touches the sea. It is understood that the real negotiation will be around this last demand, and that the policy of China is to represent that it will offend the European Powers. There is no proof that it will, and Japan is negotiating in St. Petersburg for a free hand; but it must be remembered that literally nothing is accurately known. The Japanese Govern- ment practically consists of the Mikado, whose personal capacity is not even distantly known to Europeans ; Count Ito, who has been the Bismarck of the Island Empire ever since the Revolu- tion; and Marshal Yamagata, in whom the Army confides ; and the trio keep their secrets strictly. It is suspected that they have decided not to make peace until Pekin has been occupied ; but that will depend in great measure upon the concessions which Li Hung Chang is authorised to make. It is said that Pekin is at last fully aware that Wei-hai-wei has fallen, and that great persons are flying from the capital; but these stories of ignorance are usually exaggerated. An Asiatic never knows anything which he thinks it dangerous to discuss.
