NEWS OF THE WEEK.
rilHE Kaiser has given way. On the 26th of July the prelimi- naries of peace offered by the Prussians were accepted, and an armistice for one month was signed. During that month the preliminaries are to be elaborated into a treaty, the Prussians retaining Bohemia and Moravia until the final ratification. The principal terms are, that Austria quits the German Confederation entirely and finally ; that Prussia may do anything she likes north of the Main except absorb Saxony ; that the three Southern States, Bavaria, Wurtemburg, and Baden, may form a Confe- deration if they please, but must not admit Austria ; that Venetia is to be ceded to Italy, boundaries being settled afterwards ; and that Austria shall pay 3,000,000/. to Prussia for the expenses of the war, and resign her right to payment for the co-dominion in the Elbe Duchies, and keep the Prussian armies until the conclu- sion of peace. None of Austria's allies were admitted to the armistice except Saxony, but Bavaria has since signed a separate agreement, Baden has requested admission into North Germany, and Wurtemburg has requested, perhaps obtained, an armistice. The final negotiations will be carried on either at Nikolsburg or Prague, and Prussia, Austria, and Italy will be the only signa- taries, France being pointedly excluded.
