16 JANUARY 1926, Page 2

Meanwhile Peking is without a Government. How is -- one

to explain it- all ? Gossip suggests that if Feng is trying to come to an understanding with the Russian Soviet, Chang may have come to a similar understanding with Japan. It is just as likely, however, that Feng felt - that the situation was passing out of his control, that he would be held responsible for the awful slaughter before Tientsin and that he had better-avoid the assassins who were already on his track. The Peking correspondent of the Times says that representatives of the National Army are reported to be approaching Wu- Pei-fu and other -generals with a view to forming a military coalition. If that Were achieved the provisional Constitution would be restored and a new Parliament. would be convened. Such a solutipn would really be the result of general exhaustion, but the cause need not concern us so long as some sort- of peace is achieved. No one knows what kind of Govern= ment may be in power in Peking a few weeks hence. We, trustthat it may be one with which it will be possible for the Tariff Conference_ to do business.

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