NEWS OF THE WEEK.
THE Emperor of Russia has done a great service to the cause of peace. On Wednesday he told the Balkan Powers, and especially Bulgaria and Servia, that they would go to war with one another at their peril. The effect was instantaneous. Both Powers at once agreed to submit their differences to the arbitration of Russia, and they have already exchanged Notes expressing themselves in favour of a partial demobilization of their armies. Two most important and, we believe, most useful results flow from the action of Russia. In the first place, peace is secured, for the time at any rate, in the Balkans, and this means peace also, for the time, in Europe as a whole. Here Russia has rendered a service to mankind. Next Russia has re-established her claim to he considered the head and leader of the Slav peoples. Here she has helped herself.
