From Our Chinese Correspondent, Peking, Feb. 21.
The Japanese paper "Taisho," of the 11th instant printed a telegram from Peking to the effect that on account of the revolt and other complicated affairs, President Yuan Shih-kai will shortly resign in favour of another person who is t" be elected by the citizens. This story is emphatically denied by responsible Government authorities.
In refuting this Japanese fiction, the majority of the Chinese nows-papers in the Capital say that the Yunnan and Kueichow revolters must be suppressed by force of arms, although, on account of the difficulty of transporting Govern ment troops en Szechuan and Hunan, their final suppression is. unavoidably delayed, and that as the Kuoti (form of State) has already been definitely settled by the representatives of the citizens of the five races of China, there will be no change in any e: rcumnes although the formal en thronement of the Monarch has been postponed. The papers add
Text read from the printed page and cleaned; old type leaves the occasional error.