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NEWS OF THE WEEK.

THE crisis in foreign affairs still remains very grave, and though it may be said that the indications of Friday were more favourable than those of Thursday, we are bound to add that we must be prepared at any moment to hear that the storm is'again threatening. By this we do not mean that there is any immediate danger of war. iThe resources of diplomacy are in no sense exhausted, but the situation may later get worse instead of improving. If this happens, the ultimate peril is clearly very great, even though the drift

towards the rocks may be a long one. Our own diagnosis, for what it is worth, is that a peaceful settlement will eventually

.be reached, but not before Europe has had one or two more alarms.

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