28th August, THE deadlock at Portsmouth, N. H,, continues, notwithstanding. all President Roosevelt's: endeavours to find a solution, endeavours which, however, have' not been entirely fruitless, as the Conference has not been, broken up, and while ib still exists, there is always hope. Dr. Morrison, whose judgment, however, is not always as good as his appreciation of facts, has not much confidence in a favourable issue. He, we are told in a telegram printed this morning, "reports that though the present peace conference may end in failure, it has not been opened in vain. The present meeting has at least paved the way for the next one, which may bring a satisfactory result." We may agree with the London "Times" when it says that:
Russia is merely boasting when she talks of her greatness, resourcefulness, honour, and dignity, and is losing the opportunity of restoring peace, which is of more practical importance to the Russian nation but may it not sibly be that the Czar does not ow the full extent of the disasters that have befallen Russia in the East and of the troubles that threaten the Throne at home? He teems to have had recently, it is true, more than one conference with' the American Ambassador at St. Petersburg, who could and would doubtless tell him the truth, but the Czar's advisers who wish to continue the war probably tell him that the American Ambassador knows nothing of the Russian people and character and that Russia's troubles seem to* him accordingly much worse than they really are, Aad the supposed disgrace involved in paying Japan'an indemnity, however the payment may be disguised, outweighs totheCzarall the blessings of Peace, to whose service not many years ago he devoted his existence. here is the Czar's honour, when: the invalided soldiers-from Port Arthur are flung aside to live or starve: at Odessa When they were leaving Moscow for the war the Czar addressed them as my_ brothers," and. in' an. imperial rescript he promised every combatant at Port Arthur, irrespective of rink, double pay, with each: month counting as a-year. The promise is entirely forgotten now, for the Czar Batushka ('little Father) has a very short memory.
The world agrees that Japan has a right to be reimbursed the cost of the war, and her finances must be crippled for years if she does not gob it. Her successes have brought with them great responsibilities; she' will have much colonisation and improvement to do, for which she must have money. Pressing public works have been postponed to find-funds for the war. All this expenditure. will be remunerative in time, but the money she will require directly the war is over. Most naive is the Russian contention, reported by the "Kokumin's" correspondent at Portsmouth, that it is easier for Japan to withdraw her demand for an indemnity than for Russia to consent to it. In discussing the terms of peace on the '15th inst. we suggested that Japan might well waive the limitation of Bussia's naval power in the Far East, and the surrender of the interned men-of-war, and both of these terms she-has given up. The rest of her terms are reasonable and proper, and we still. believe that Japan will be firm; and that Russia will yield as she has done before after she has found that she cannot tire out Japan by her characteristic practice of delay. It.will be worse for her in the end if this delay is being utilised to hurry reinforcements to General Linievitch, as one of the Reuter's telegrams we print this morning seems to indicate,
Text read from the printed page and cleaned; old type leaves the occasional error.