5 JANUARY 1856, Page 5

NEWS OF THE WEEK. .

THE first week of 1856 seems to dispose of the faint hopes that clung to the idea of peace at the close of 1855, and to launch us fairly into a new year of a conflict extending as it continues. The week brings forth those propositions on the part of Russia which haye been adumbrated in the reports of Continental jour- nals for two or three weeks, and which are now distinctly pro- mulgated through the Russian organ in Belgium. According to that journal, a circular from the Imperial Chancery at Vienna states the conditions on which Russia would consent to " the third point" proposed at the Vienne, Conference. The conditions are-, the closing of the entrairee to the Black Sea, and the eiclu- sion of all war-flagi except those of Russia • and Turkey, their naval forces to be apportioned by agreement between the two without the PartiCipation of the other Powers. This circular is -not in any manner_ a reply tothe communications which are un- derstood to have been forwarded from Vienna, describing the terms that would be acceptable to the Western Powers ; a corn., parison of dates would lead us to suppose that they are the result of the initiative taken by Prussia and disavowed by Austria. The character of the-circular, however, casts extreme improbability upon any acceptance such terms as the Western Powers eonld have sanctioned. Russia now makes a parade of offering terms inferior to those that Count Buol proposed as a compromise at the Vienna Conference, The Count's principal guarantee was an agreement for equalizing the force of Russia and Turkey in the presence of the entire Conference, and the Russian Plenipotentiary was ready " to discuss " such a basis. The Czar 'now entirely and expressly excludes that guarantee ; and since -Count Beers proposal was tacitly refused by the representatives of .the other Powertc. it is to be imagined at present that the Emperor Alexander is not prepared to concede what any of the Allies ,would consider as the minimum of concession. It is true that this Russian circular is not the answer to the communication :conveyed by Count Valentine Esterhazy, but it is a specimen of :what we may expect that answer to be ; and we may infer from it, that Russia prefers a . continuance of the war to a concession which is necessary for peace.