The tide of War has been wavering at its summit for two years past; and now, with this of Russia, and this of Bute instead of Pitt, there is ebb everywhere, and all Europe determining for peace.

Steady at the helm, as heretofore, a Friedrich, with the world-current in his favor, may hope to get home after all.
Austrian Head-quarters had been at Waldenburg, under Loudon or his Lieutenants, all Winter.

Loudon returned thither from Vienna April 7th; but is not to command in chief, this Year,--Schweidnitz still sticking in some people's throats: "Dangerous; a man with such rash practices, rapidities and Pandour tendencies!" Daun is to command in Silesia; Loudon, under him, obscure to us henceforth, and inoffensive to Official people.

Reichs Army shall take charge of Saxony; nominally a Reichs Army, though there are 35,000 Austrians in it, as the soul of it, under some Serbelloni, some Stollberg as Chief--( the fact, I believe, is: Serbelloni got angrily displaced on that "crossing of the Mulda by Prince Henri, May 13th;" Prince of Zweibruck had angrily abdicated a year before; and a Prince von Stollberg is now Generalissimo of Reich and Allies: but it is no kind of matter),--some Stollberg, with Serbelloni, Haddick, Maguire and such like in subaltern places.
Cunctator Daun, in spite of his late sleepy ways, is to be Head-man again: this surely is a cheering circumstance to Friedrich; Loudon, not Daun, being the only man he ever got much ill of hitherto.
Daun arrives in Waldenburg, May 9th; and to show that he is not cunctatory, steps out within a week after.

May 15th, he has descended from his Mountains; has swept round by the back and by the front of Schweidnitz, far and wide, into the Plain Country, and encamped himself crescent-wise, many miles in length, Head-quarter near the Zobtenberg.
Bent fondly round Schweidnitz; meaning, as is evident, to defend Schweidnitz against all comers,--his very position symbolically intimating: "I will fight for it, Prussian Majesty, if you like!" Prussian Majesty, however, seemed to take no notice of him; and, what was very surprising, kept his old quarters: "a Cantonment, or Chain of Posts, ten miles long; Schweidnitz Water on his right flank, Oder on his left;" perfectly safe, as he perceives, being able to assemble in four hours, if Daun try anything.