NEWS OF THE WEEK.
THE general outlook as we write is much more favourable. The great Italian victory on the Piave has disposed of the Austrian offensive. The Allied Armies in France have gained another week in which to strengthen their defences and to bring up more reserves, including the Americans, and the Germans have lost a week in a battle in which time is on our side. The returns of shipping losses show that the ' U '-boats, though still very mischievous, are ceasing to be .a grave danger. The pessimistic speeches of the German Foreign Secretary and the violent disputes to which they have given rise have revealed the doubts and fears of our enemies, who see that their military successes in France have availed them nothing, and that the Allies are more firmly resolved than ever to continue the war The omens are good. With clearness in our policy and vigour in our acts, we may hasten the victory.