The effect of the second speech will be very great,
for the first has already altered the situation. General Kaulbars and the Consular Agents of Russia have received instructions to quit Bulgaria, with which Russia breaks off relations, ostensibly because the Regents refuse to dismiss certain Prefects— including one who is in the Regeucy—for "insults to Russia," really because it was convenient to recall General Kaulbars, whose mission has produced nothing but hatred. It was believed, but is not yet known, that the Russians would leave on Friday. If they did, the Regents are masters in their own country once more, and may insist on a more acceptable candidate for the throne than Prince Nicholas of Mingrelia. The Russian Government is making large pre- parations for war in its Southern provinces, and it is difficult to believe that it will submit to the check it has received ; but this is not the conviction either of Prince Bismarck or of the financial chiefs of Europe, who evidently expect peace. It is most probable that a great, though silent struggle, is going on in Russia between the peace party, headed by M. de Giers, and the war party, headed by some Generals. The decision rests with the Czar,
