NEWS OF THE WEEK
THE Peace Conference, which met at Portsmouth, New Hampshire, on Wednesday, has been in session for the remainder of the week. Nothing of importance took place till Thursday, when the Japanese handed to the Russians a state- ment of the terms on which they would consider the question of peace. The Russians, on receiving them, declared that they would reply in writing, and at once telegraphed them to Peter- hof. No one as yet knows the precise nature of the terms, as the Japanese have made it an obligation of honour on their colleagues in the Conference that they shall not be com- municated to the public. In general outline, however, the attitude of the Japanese, which we have discussed elsewhere, may be described as follows. They insist (1) on an in- demnity,—the minimum, provided the other terms are entirely satisfactory, is placed at £100,000,000; (2) on the retention of Saghalien, to which they have already restored the ancient Japanese name ; (3) on the evacuation by Russia of the whole of Manchuria, and on the acknowledgment of Japan's possession of Korea. It is possible that there are also conditions in regard to Vladivostok and Russian naval forces in the Pacific.
