According to telegrams of August 18th received from Hong Kong,
the Chinese are not disposed to allow the Japanese to keep Formosa. The Government of Pekin, which is in a mood to believe that it can do anything, has informed the Court of Yeddo that its troops must be withdrawn within ninety days, and is making pre- parations to land a great army on the island. The Japanese are very confident in their ironclads, and unless greatly pressed for money — a point upon which great uncertainty exists— will probably endeavour to destroy the Chinese army as it crosses the strait. Even should it land, the Mikado's advisers will probably persevere, as, should their troops succeed, they will acquire a splendid new possession ; and should they fail, some thousands of armed feudalists who are greatly in the way will be got rid of. If the war actually breaks out, as seems probable, the Russians, with their fleet off the mouth of the Amour, will be masters of the situation ; and it may suit them, threatened as they have recently been, to give the Pekin Government a severe blow. Formosa may save Yakoob Beg yet.
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