Those who had expected to see an exciting war, a quick rush southward by the "Ironsides;" either their crushing defeat or 'a victory. that would carry this enemy ints Canton, may be sadly disappointed. Indications point to a long-drawn-out campaign. Chang Fa-kuei is treating with the lenders in Cantoa at the moment: if he gets a sudstantial monetary grant, he hay promised, he retire from 'Kuangtung for, after all, Nanking is the bigger' game. Meanwhile. his troops are almost marking time; neither army is disposed to fores either side to go after the other in earnest. Chen Chi-tang probably has not sufficient confidence in the strength of his forces; Chang Fa-kuei's soldiers are foot-sore_and Gveary. Thor commander must intend to let them get back some of their lost strength before ordering them to spring at the throats of their foeman, But a skeleton guard has beea Yeft in Canton City; Honan across the river is being held by marines fromthe gunboats, for not a sings private can be spared for guard-duty over there. Withal, erryons is-going about his business, withen: showing the least anxiety. But the government yesterday took the first Precautionary. measure. It started loading silver coin om toa Hongkong steamer, legt the money in the Provineial Tréfisury fall'into the hands of the enemy.
Text read from the printed page and cleaned; old type leaves the occasional error.