No forcible interference with railways would be justifiable, but a voluntary postponement of the execution of their Acts might be proposed to Parliament.
It will be seen by this short summary that the persons who by official position, practical experience, and much reflection are most capable of giving an opinion think that little or nothing can be done by Parliament or by Government.
It is one of those revulsions in trade which take place periodically, increased in extent by the expansion of commerce, but controlled in its operation by the sound principles of currency which have lately prevailed.
The Act of 1844 is generally blamed, but without the least reason. The accommodation afforded by the Bank has been large, liberal, and continuous. The circulation of notes approaches nineteen millions.
MR COBDEN
Upon fully considering the difficulty of finding a person of ability and experience to place at the head of the Poor Law Commission, Lord John Russell has come to the conclusion that the best course he can take is to propose to Mr Cobden to accept the Presidency with a seat in the Cabinet, and to propose to the Duke of Bedford at the same time a seat in the Cabinet without office.
Various reasons for making this offer to Mr Cobden will occur to your Majesty. His ability, his popularity with the working classes, and his knowledge of sound principles of political economy are undoubted. Sir Robert Peel's tribute to him has raised him both on the Continent and in this country, so that his presence in the Cabinet would give satisfaction to many.
On the other hand, the landed nobility and gentry would be glad to see the Duke of Bedford take part in the deliberations of the Government.
With your Majesty's permission Lord John Russell will propose these arrangements to the Cabinet to-morrow.