The effect of this measure on 'Change was to depreciate
Con- sols, the idea being that the Government would not have been so decided unless aware that very serious events were in prepara- ration. In spite of the urgent denials of officials everywhere, the Continent is full of rumours of war in spring. Orders have undoubtedly been received in Gallicia to repair bridges, &c., on the Russian frontier—orders interpreted to mean that Russian troops are coming south, whereas they may mean that Austrian troops are going north—and the Times is repeating, with a persistency very unlike itself, that Austria must occupy the insurgent provinces of Turkey. If such an occupation has been predetermined, a point on which we have -no information, the new struggle will be between Austria and -Russia ; and the parties to it will be possibly Russia, anxious for her road to Constantinople, and aided by France, eager for a Russian alliance, against Austria, determined to spread eastward, and aided by Germany, determined that Russia shall not gather strength ; with England standing aloof, but keeping a fast grip on Egypt. There instill strong hope that the Powers may shrink from actual war, and still immense confusion as to their true drift, but it is impossible to doubt that the situation is becoming dangerous, or that an accident may break up the present armed peace. All rumours should be received for weeks to come with distrust, but confidence in continued quiet will be unwise.
