See, then, how we are situated with the foreign powers. Spain is alienated from us—Austria not fervid in her love, for there too, it would seem, we have most unnecessarily interfered. We are detested in Naples and Sicily, unpopular elsewhere in Italy, mixed up with the Schleswig dispute, and on no diplomatic terms with Central Germany. Our understanding with France has fortunately remained amicable, but we neither know the policy of France, nor can we foresee under what circumstances she may be placed in a month from the present time. Is this a peaceful prospect? Let us hear Lord John Russell, whose interest it is to make things appear in as favourable a light as possible:—"I do not contend that there is not cause for anxiety in the present state of Europe. I am far from thinking that the revolutions which took place last year have run their course, and that every nation in which they occurred can now be said to be in a state of solid security. I rejoice as much as any man that the ancient empire of Austria, our old ally, is recovering her splendour, and is showing her strength in such a conspicuous manner. Still I cannot forget that there are many questions not yet settled with regard to the internal institutions of Austria—that the question of the formation of what the honourable gentleman (Mr D'Israeli) has called an empire without an emperor, is still in debate, and that we cannot be sure what the ultimate result of these events may be. It is also true that there may have been, during last year, an excess of apprehension, caused by the great events that were taking place, and by the rising up of some wild theories, pretending to found the happiness of the state and of mankind on visionary and unsound speculations, on which the happiness of no people or country can ever be founded. We have seen these opinions prevail in many countries to a considerable extent; and no one can say that events may not, at some unforeseen moment, take an unfortunate turn for the peace and tranquillity of Europe." These are sensible views, moderately but fairly stated; and we ask nothing more than that his lordship's measures should be framed in accordance with a belief which is not only his, but is entertained by every man of ordinary capacity throughout the country. Experience has shown us that war is almost invariably preceded by revolution. These are not days in which potentates can assemble their armies, march across their frontiers without palpable cause of offence, and seize upon the territory of their neighbours. But for the spirit of innovation, restlessness, and lust of change, never more generally exhibited than now amongst the people, the world would remain at peace. It is only when, as in the case of Germany and Italy, the sceptre is wrenched from the hands of the constitutional authorities, and when the rule of demagogues and experimentalists commences, that the danger of war begins. At such a time, there are no settled principles of polity or of action. Crude theories are produced, and, for a time, perhaps, acted upon as though they were sound realities. Men adopt vague and general terms as their watchwords, and strive to shape out constitutions to be reared upon these utterly unsubstantial foundations. Laws are changed, and the executive loses its power. All is anarchy and confusion, until, by common consent of those who still retain some portion of their senses, military despotism is called in to strangle the new-born license. This is a state of matters which usually results in war. The dominant authorities feel that their hold of public opinion is most precarious, unless they can contrive to give that opinion an impulse in another direction, and, at the same time, to employ, in some way or other, those multitudes whom revolution has driven from the arts and occupations of peace, and who, unless so provided for, immediately degenerate into conspirators at home. War is sometimes resorted to as the means of avoiding revolution. The disturbed state of the north of Italy furnished Charles Albert with a pretext for marching his army on Milan, as much, we believe, on account of the revolutionary spirit rife within his own dominions, as from any decided hope of territorial aggrandisement. This was the policy of Napoleon, who perfectly understood the character of the people he had to deal with, and who acted on the thorough conviction that war was the necessary consequence of revolution. We do not say that, in the present instances, such calamitous results are inevitable—we have hope that France may this time achieve a permanent constitution without having recourse to aggression. At the same time, it would be folly to shut our eyes to the fact that, throughout a great part of Europe, the old boundaries have been grievously disturbed; and that the modern system of intervention has a decided tendency to provoke war, at periods when the popular mind is raised to a pitch of extraordinary violence, and when the passions are so keenly excited as to disregard the appeals of reason.

These considerations are not only directed towards the course of our foreign policy; they are of vast moment in judging of the expediency of reducing our forces at this particular time. Last year, with NO revolutions abroad, the Whigs not only refused to lessen the amount of our standing army, but increased it. This year, when the Continent is still in a state of insurrection, and when war is pending in different parts of Europe—when, moreover, an Indian contest, more serious in its aspect than any other which we have recently seen, has commenced—they propose to begin the work of reduction. Her Majesty is made to say,—"The present aspect of affairs has enabled me to make large reductions on the estimates of last year!"

We never have suspected Lord John Russell of possessing much accomplishment in the art of logic; but, really, in the present instance, he has the merit of inventing a new system. According to his own showing, according to his recorded admissions, his doctrine is this: In time of peace, when there is no occasion for armaments, increase them; in time of threatened war and actual disturbance, when there may be every occasion for them, let them be reduced. Yet perhaps we are wrong: Sir Robert Peel may possibly be admitted as the author of this vast discovery—in which case, Lord John can merely rank as a distinguished pupil. The astute baronet, in his zeal for commercial convulsions, has taught us to expand our currency when there is no money-famine, and to contract it in the case of exigency. Whether Californian facts may not hereafter get the better of Tamworth theories, we shall not at the present moment stop to inquire. In the mean time let us confine our attention to the proposed reductions.

We are therefore compelled—reluctantly, for we had hoped better things from men styling themselves British statesmen—to adopt the view of Lord Stanley, in his powerful and masterly estimate of the policy of the present Government. "In the face of all this," said the noble lord, after recapitulating the posture of affairs at home and abroad, "ministers have had the confidence to place in the mouth of their sovereign the astounding declaration, that the aspect of affairs is such as to enable them to effect large reductions in the estimates. I venture to state, openly and fearlessly, that it is not the aspect of affairs abroad or in Ireland, but the aspect of affairs in another place, which has induced the government to make reductions. I believe that they have no alternative but to do as they are ordered." Here, then, is the first yielding to the new movement—the first step taken, at the bidding of the Leaguers, towards a policy which has for its avowed end the abandonment of the colonies! The question naturally arises—where is to be the end of these concessions? Are we in reality ruled by a Manchester faction, or by a body of men of free and independent opinions, who hold their commissions from the Queen, and who are sworn to uphold the interests and dignity of their mistress and of the realm? Let us see who compose that faction, what are their principles, what are their interests, and what means they employ to work out the ends which they propose. The splendid speech of Mr D'Israeli, in moving his amendment to the address—a speech which we hesitate not to say is superior to any of his former efforts, and which displays an ability at the present time unequalled in the House of Commons—a speech not more eloquent than true, not more glowing in its rhetoric than clear and conclusive in its logical deductions—has told with withering effect upon the new democratic faction, and has exposed the ministry which bows before it to the contumely of the nation at large. "I am told," said the honourable member, "that England must be contented with a lesser demonstration of brute force. I am not prepared to contradict that doctrine; but I should like to have a clear definition of what brute force is. In my opinion, a highly disciplined army, employed in a great performance—that of the defence of the country, the maintenance of order, the vindication of a nation's honour, or the consolidation of national wealth and greatness—that a body of men thus disciplined, influenced and led by some of the most eminent generals—by an Alexander, a Cæsar, or a Wellesley—is one in which moral force is as much entered into as physical. But if, for instance, I find a man possessing a certain facility of speech, happily adapted to his cause, addressing a great body of his fellow-men in inflammatory appeals to their passions, and stirring them up against the institutions of the country, that is what I call brute force—which I think the country would be very well content to do without, and which, if there be any sense or spirit left in men, or any men of right feeling in the country, they will resolve to put down as an intolerable and ignominious tyranny! I have often observed that the hangers-on of the new system are highly fond of questioning the apothegm of a great Swedish minister, who said, 'With how little wisdom a nation may be governed!' My observations for the last few years have led me to the conclusion, not exactly similar, but analogous to that remark; and if ever I should be blessed with offspring, instead of using the words of the Swedish statesman, I would rather address my son in this way, 'My son, see with how much ignorance you can agitate a nation!' Yes! but the Queen's Ministers are truckling to these men! That is the position of affairs. Her Majesty's Ministers have yielded to public opinion. Public opinion on the Continent has turned out to be the voice of secret societies; and public opinion in England is the voice and clamour of organised clubs. Her Majesty's Ministers have yielded to public opinion as a tradesman does who is detected in an act of overcharge—he yields to public opinion when he takes a less sum. So the financial affairs of this country are to be arranged, not upon principles of high policy, or from any imperial considerations, but because there is an unholy pressure from a minority which demands it, and who have a confidence of success because they know that they have already beaten two Prime Ministers." No one who has perused the report of the proceedings at the late free-trade dinner at Manchester can have failed to remark that the League is still alive and active. It was not for mere purposes of jubilation, for the sake of congratulating each other on the accomplishment of their old object, that these men assembled. Exultation there was indeed, and some not over-prudent disclosures as to the nature and extent of the machinery which they had employed, and the agencies they had used to excite one class of the community against the other; their inveterate hatred towards the aristocracy and landed gentry of Great Britain was shown in the diatribes of almost every one of the commercial orators. "We cannot," says The Times, "but regret that in those portions of the Manchester speeches which refer to their corn-law achievements, the minds of the speakers appear still imbittered with class hatred, and feelings of misplaced animosity towards their fellow-countrymen." "As a people," quoth Friend John Bright, "we have found out we have some power. We have discovered we were not born with saddles on our backs, and country gentlemen with spurs." Ulterior objects are not only hinted at, but clearly and broadly propounded. The population of the towns is again to be pitted against that of the counties, and the counties, if possible, to be swamped by an inundation of urban voters. The banquet of Wednesday was followed by the financial meeting of Thursday. George Wilson, the ancient president of the Anti-Corn-Law League, occupied the chair. Bright and Cobden, the Bitias and Pandarus of the cotton-spinners, moved the first of a series of resolutions: and an association was formed, "for maintaining an efficient care over the registration of electors in boroughs and counties, and to promote the increase of the county electors by the extension of the forty-shilling freehold franchise." It was further agreed "that the association should co-operate with similar associations throughout the country, and that parties subscribing £10 annually shall be members of the council, together with such persons, being members of the association, as shall be elected by any vote of the council." We hope that these announcements will open the eyes of those who thought that by yielding to the former agitation they were adopting the best means of bringing it to a close. Agitation never is so quieted. The experiment has been made in Ireland until further yielding was impossible; and so will it be in Britain, if a higher, a bolder, and a more steadfast line of policy should not be adopted by future governments. From the present Cabinet we expect nothing. Their invariable course is to yield; for they neither have the ability to devise measures for themselves, nor the public virtue to resist unconstitutional encroachments. For where is the constitution of this country, if we are to be practically governed by Leagues, by huge clubs with their ramifications extending, as in France, throughout every town of the empire, and secretly worked according to the will of an inscrutable and unscrupulous council? Public opinion, as we understood the phrase in Britain, manifested itself in Parliament; now, we are told, that it is something else—that it is the voice of clubs and assemblies without. Very well, and very powerfully did Mr D'Israeli allude to this system of organisation in the close of his animated speech:—

"I have noticed the crude and hostile speculations that are afloat, especially respecting financial reform, not only because I consider them to be very dangerous to the country; not only because, according to rumour, they have converted the Government; but because, avowedly on the part of their promulgators, they are only tending to ultimate efforts. This I must say of the new revolutionary movement, that its proceedings are characterised by frank audacity. They have already menaced the church, and they have scarcely spared the throne. They have denounced the constitutional estates of the realm as antiquated and cumbrous machinery, not adapted to the present day. No doubt, for the expedition of business, the Financial Reform Association presents greater facilities than the House of Commons. It is true that it may be long before there are any of those collisions of argument and intellect among them which we have here; they have no discussions and no doubts; but still I see no part of the go-a-head system which is likely to supersede the sagacity and matured wisdom of English institutions; and so long as the English legislature is the chosen temple of free discussion, I have no fear, whatever party may be in power, that the people of England will be in favour of the new societies. I know very well the difficulties which we have to encounter—the dangers which illumine the distance. The honourable gentleman, who is the chief originator of this movement, made a true observation when he frankly and freely said, that the best chance for the new revolution lay in the dislocation of parties in this House. I told you that, when I ventured to address some observations to the house almost in the last hour of the last session. I saw the difficulty which such a state of things would inevitably produce. But let us not despair; we have a duty to perform, and, notwithstanding all that has occurred, we have still the inspiration of a great cause. We stand here to uphold not only the throne, but the empire; to vindicate the industrial privileges of the working classes; to reconstruct the colonial system; to uphold the church, no longer assailed by appropriation clauses, but by vizored foes; and to maintain the majesty of parliament against the Jacobin manœuvres of Lancashire. This is a stake not lightly to be lost. At any rate, I would sooner my tongue were palsied before I counselled the people of England to lower their tone. Yes, I would sooner quit this House for ever than I would say to the people of England that they overrated their position. I leave that delicate intimation to the fervid patriotism of the gentlemen of the new school. For my part, I denounce their politics, and I defy their predictions; but I do so because I have faith in the people of England, their genius, and their destiny!"

Our views therefore are simply these—that while it is the duty of government to enforce and practise economy in every department of the public service, they are not entitled, upon any consideration whatever, to palter with the public safety. We cannot, until the estimates are brought forward, pronounce any judgment upon the merits of the proposed reductions—we cannot tell whether these are to be numerical, or effected on another principle. Needless expenditure we deprecate as strongly as the most sturdy adherent of the League, and we expect and hope that in several departments there will be a saving, not because that has been clamoured for, but because the works which occasioned the outlay have been completed. For example, the introduction of steam vessels into our navy has cost a large sum, which may not be required in future. But to assign, as ministers have done, the position of affairs abroad as a reason for reducing our armaments, is utterly preposterous. It is a miserable pretext to cover their contemptible truckling, and we are perfectly sure that it will be appreciated throughout the country at its proper value. It remains to be seen whether these estimates can be reduced so low as to meet the expenditure of the country. Our own opinion is, that they cannot, without impairing the efficiency of either branch of the service; and we hardly think that ministers will venture to go so far.

Let us, at all events, hope that Lord John Russell and his colleagues are not so lost to the sense of their duty, as to make the sweeping reduction which the Manchester politicians demand—that they will not consent to renounce the colonies, or to leave them destitute of defence. Still the question remains—how are we to raise our revenue? To this point we perpetually recur, for it is in this that the real difficulty lies. What says her Majesty's Government to this? The answer is quite short—Nothing. They have no scheme, so far as we are given to understand. They cannot go back upon indirect taxation; the country will not stand any increase of the direct burdens. The old rule was, out of two evils choose the least: the new rule seems to be, choose neither the one nor the other, but let matters go on as they best can. We have that confidence in the good sense of the country, that we cannot believe that this laissez faire system will be much longer tolerated. The family party, as the interwoven clique of Russells, Mintos, Greys, and Woods, has not unaptly been designated, was not placed in power merely to enjoy the sweets of office, or to provide for their numerous kindred; they must either grapple with the pressing difficulties of the state, or surrender their places to others who are more confident and capable.

Confidence is not wanting in certain quarters, though capability may be a matter of more dubiety. Mr M'Gregor, M.P. for Glasgow, and concocter of the famous free-trade tables, is ready at a moment's notice to produce a new financial scheme, founded upon unerring data, and promising a large increase of the revenue. Cobden has another scheme on the irons with the same view, benevolently proposing to lay the land of Great Britain under further contribution. We believe that, after the experience of the past, few people will be likely to accept either budget without considerable hesitation. Both gentlemen have committed a slight mistake in imitating Joseph's interpretation of the dream of Pharaoh; they should have inversed the order, and given the years of famine the precedence of the years of plenty.

The truth is, that it is a very simple matter to take off existing taxes, but marvellously difficult to impose new ones. Granting that a certain sum is required for the annual engagements and expenditure of the country, no wise statesman would abolish any source of revenue, without, at the same time, introducing another equivalent. Our error has been abolition without any equivalent at all. It is all very well to say, that by reducing import duties upon particular articles you stimulate the power of production: that stimulus may be given—individuals may in consequence be enriched—and yet still there is a defalcation of revenue. This, however, is the best case which can be pointed out for the reduction of duties, and can only apply, in any degree, to imports of raw material. The greater part of Sir Robert Peel's tariff is founded upon a principle directly opposite to this. He removed import duties from articles which, so far from stimulating the power of production at home, absolutely crushed that power, by bringing in foreign to supersede British labour. Thus, in both cases, there was a sacrifice. In the one there was, at all events, a direct sacrifice of revenue; in the other, a sacrifice of revenue, and a sacrifice of labour also. The imposition (and the word is appropriate either in its plain or its metaphorical meaning) of the property and income tax, which gave Sir Robert Peel the power of making his commercial experiments, proved inadequate to replace the deficit. The promised gain was as visionary as the dividends on certain railway lines projected about the same period, and no new source of national income has been opened to supply the loss.

Lord Brougham, no bad judge of human nature, observed the other night, that "such was the extent of the self-conceit of mankind, such the nature and amount of human frailty, that it became no easy matter to induce a nation to retrace its steps." People are ever loath to accept as facts the most pregnant evidences of their own deliberate folly. Perfectly aware of this metaphysical tendency, we are not surprised that, for the last two or three years, every remonstrance against the dangers of precipitate commercial legislation should have been treated with scorn, both by the older advocates of the abolition system, and by the younger disciples who were converted in a body along with their master. They have been kind enough, over and over again, to entreat us to relinquish our defence of what they called an antiquated and worn-out theory. Their supplications on this score have been so continuous as to become absolutely painful; nor could we well understand why and wherefore they should be so very solicitous for our silence. Our worst enemies cannot accuse us of advocating any dangerous innovations: our preachment may be tedious, but, at all events, we do not take the field at the head of an organised association. Neither can we be blamed for solitary restiveness, for we do not stand alone in the utterance of such opinions. The public press of this country has nobly fought the battle. We have had to cope with dexterous and skilled opponents; but never, upon any public question, has a great cause been maintained more unflinchingly, more disinterestedly, and more ably, than that of the true Conservative party by the free Conservative press. We are now glad to see that our denunciations of the new system have not been altogether without their effect. The temporary failure of free trade has been conceded even by its advocates; but we are referred to accidental causes for that failure, and the entreaty now is, to give the system a longer trial. We have no manner of objection to this, provided we are not asked to submit to any further experiments. We desire nothing better than that the people of Great Britain, be they agriculturists, or be they tradesmen, should have the opportunity of testing by experience the blessings of the free-trade system. The first class, indeed, do not require any probationary period of low prices to strengthen their conviction of the fallacy of the anti-reciprocity system, or of the iniquity of the arrangement which compels them to support the enormous amount of pauperism engendered by the over amount of population, systematically encouraged by the manufacturers. "The manufacturers," said Lord Brougham, "do not, perhaps, tell the world that they manufacture other things besides cotton twist; but every one who knew anything of them, knew that they manufactured paupers. Where the land produced one pauper, manufacturers created half-a-dozen." Still we can hardly expect to be thoroughly emancipated from the effects of the great delusion, until men of every sort and quality are practically convinced that their interests have been sacrificed to the selfish objects of a base and sordid confederation. We have no wish to hark back without occasion, or prematurely, to the corn laws: but, at the same time, we are not of the number of those who think that subsequent events have justified the wisdom of the measure. If the loyalty of the people of Great Britain did really rest upon so very narrow a point, that, even amidst the rocking and crashing of thrones and constitutions upon the Continent, ours would have been endangered by the maintenance of the former law, we should still have reason to despair of the ultimate destinies of the country. Are we to understand that, in such a case, the Jacobin faction would have had recourse to arms—that the Manchester League would have preached rebellion, or excited its adherents to insurrection? If not this, where would have been the danger? Never was any question agitated in which the mass of the operatives took less interest than in the repeal of the corn laws. They knew well that no benefit was thereby intended to be conferred upon them—that no philanthropic motives contributed to the erection of the bazaars—that the millions of popular tracts were poured forth from no cornucopia of popular plenty. The very fact, that the hard and griping men of calico were so liberal with their subscriptions to promote an agrarian change, was sufficient of itself to create a strong suspicion in their minds; for when was the purse of the taskmaster ever produced, save from a motive of selfish interest? We will not do the masses of the British population the foul injustice to believe that, under any circumstances, they would have emulated the frantic example of the French. Cobden has not yet the power of his friend and correspondent Cremieux: he is a wordy patriot, but nothing more; and, even had he been inclined for mischief, we do not believe that, beyond the immediate pale of his confederates, any considerable portion of the nation would readily have rallied round the standard of such a Gracchus, even though the tricolor stripes had been displayed on a field of the choicest calico.