confidential style. Such being the state of affairs and all parties apparently being agreed in a disposition to put an end to the war, it seemed to me quite certain that the negotiations would be established, and that they would lead to peace. In the evening I asked Granville if he did not think we should now certainly have peace, and he said 'I think so, but there are still a great many complications,' and he said Cowley and Walewski were on such bad terms that they hardly spoke. The fact is that Cowley is a gentleman and a man of honour and veracity, but he is sensitive and prone to take offence; the other is an adventurer, a needy speculator, without honour, conscience, or truth, and utterly unfit both as to his character and his capacity for such an office as he holds. Then it must be owned that it must be intolerably provoking to Walewski or any man in his situation to see Cowley established in such strange relations with the Emperor, being at least for certain purposes more his Minister for Foreign Affairs than Walewski himself. [Sidenote: TERMS OF PEACE ACCEPTED BY RUSSIA.] _12 o'clock._--Payne has just rushed in here, to say that a telegraphic message, dated Vienna, ten o'clock last night, announces that 'Russia accepts _unconditionally_ the proposals of the allies.' The consequence of this astounding intelligence was such a state of confusion and excitement on the Stock Exchange as was hardly ever seen before. The newspapers had one and all gone on predicting that the negotiations would lead to nothing, and that the war would go on, so that innumerable people continued to be 'bears,' and they were all rushing to get out as fast as they could. It remains yet to be seen whether it is really true; if it is, the Russians will be prodigiously provoked when they find that this concession was superfluous, and that the allies would have accepted _their_ terms.