It is not yet known whether the Powers have accepted
Lord Granville's proposals for the settlement of Egyptian finance. It is, however, known that they will be guided by France, and that France would reject the proposals ; but that she is anxious for help out of her Chinese deadlock. According to the latest rumours, therefore, England is mediating with Pekin, and has suggested terms which both Powers can accept, though M. Ferry may possibly represent his acceptance as due to English inter- vention. The basis of those terms would be security in Tonquin. It must not be forgotten, however, that these are only rumours, and that at Shanghai—where, however, men are generally wrong —a very different view of the situation prevails. There it is believed that the Marquis Tseng has obtained high office, and has advised a continuance of the war unless France will sur- render her claims upon Anam. Even the Chamber will not as yet go quite so far as that, though it is part of the history of France never to persevere in Asiatic enterprise.
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