THE ominous announcement of impending war, made in our cable dispatches last night, will cause general speculation upon the possibilities of the campaign. It is not needful that Aye should retrace the steps Avhich have led up to the prosent crisis, as these have been reviewed from time to time during the progress of negotiations. But very great interest to us naturally centres in the position which England holds towards the respective combatants. The statement of Mr. Gathorne Hardy, Secretary for War, places the British attitude beyond the region of surmise : " England's last Avord AA-as in , favour of peace, and stroii"- objections Avere uttered against Avar "being made with* Turkey. Eng land signed the protocol to afford Rus sia a chance to disarm." Earl Derby had carefully guarded against pledging the future action of the nation, if .-the peaceful programme of the protocol, and consequent demobilization of the Russian and Turkish armies did not immediately ensue. While regretting the obstinacy of the Porte, and affirming the necessity for Ottoman admin istrative reforms, England refused to ratify the right of a foreign poAver to compel, by military force, adoption of its oavii pro: gramme in a country already engaged in the work of establishing liberal institutions. The British nation, therefore, remains un fettered, and Imperial policy Avill doubtless be guided by the course of events. That our national interests and policy arc too closely identified with the question at issue for England to maintain neutrality if Russian° supremacy in the Balkan Peninsular Avcre threatened, i« avcll under stood, and ranch Avill depend,therefore, upon the way in Avhich Russia may use the victories which, judged upon the fair chances of Avar, should foIIOAV her arms. Right in this case may, as it frequently docs, change sides during the progress of the Struggle. If the first is-.ucs of war result in a severe retribution for the out ra'T-sperpetrated under Ottoman rule, and in°semiring for the Christian subjects of the Porte a liberal system of local self-Government, we shall bo of those aa'lio Avill rejoice in the successes of our ancient foe. 