PEEL.—A presentation copy, I perceive.

PUNCH.—-Why, it isn’t generally known; but all the morality, the wit, and the pathos, of that work I wrote myself.

PEEL.—And I must say they’re quite worthy of you.

PUNCH.—I know it; but read—read Punch’s Cabinet.

PEEL (reads).—“First Lord of the Treasury, and Chancellor of the Exchequer—the Wizard of the North.”

PUNCH.—And, wizard as he is, he’ll have his work to do. He, however, promises that every four-pound loaf shall henceforth go as far as eight, so that no alteration of the Corn Laws shall be necessary. He furthermore promises to plant Blackheath and Government waste grounds with sugar-cane, and to raise the penny post stamp to fourpence, in so delicate a manner that nobody shall feel the extra expense. As for the opposition, what will a man care for even the speeches of a Sibthorp—who can catch any number of bullets, any weight of lead, in his teeth? Go on.

PEEL.—“First Lord of the Admiralty—T.P. Cooke.”

PUNCH.—Is he not the very man? Who knows more about the true interests of the navy? Who has beaten so many Frenchmen? Then think of his hornpipe—the very shuffling for a minister.

PEEL.—“Secretary for Foreign Affairs—Gold dust Solomons.”

PUNCH.—Show me a better man. Consider the many dear relations he has abroad; and then his admirable knowledge of the rates of exchange? Think of his crucible. Why, he’d melt down all the crowns of Europe into a coffee service for our gracious Queen, and turn the Pope’s tiara into coral bells for the little Princess! And I ask you if such feats ain’t the practical philosophy of all foreign policy? Go on.