24 FEBRUARY 1866, Page 3

On the 5th inst. a treaty of offensive and defensive

alliance was signed between Chili and Peru, and ten days later the latter power declared war on Spain. The combined Republics are said to have four iron-clads, one of which is at Brest, and three -on the coast of Spain, and a small wooden fleet not strong enough to encounter the Numancia, a splendid iron-clad, now off Val- paraiso. That port is defenceless, but Callao is said to be well armed, and the Spanish fleet is maintained at terrible expense, the whole Pacific coast south of California being closed to her agents.