Newspaper of The New York Herald, January 19, 1846, Page 2

Newspaper of The New York Herald dated January 19, 1846 Page 2
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THE NEWIORKHERAID Vol. XII., Ho. IS?Whole Ho. U31. NEW YORK, MONDAY MORNING, JANUARY 19, 1846. BY EXCLUSIVE OVERLAND EXPRESS FOR THE NEW YORK HERALD. ARRIVAL OF THE SHIP LIBERTY, FROM LIVERPOOL. FOUR DAYS LATER. HIGHLY IMPORTANT FROM EUROPE. RESIGNATION OF THE MINISTRY. Organization of a New Cabinet with Lord John Russell at its head. VIRTUAL REPEAL OF THE CORN LAWS. Tremendous Excitement In England. farther Prorogation of Parliament GREAT POLITICAL REVOLUTION IN GREAT BRITAIN. Ministerial Crisis. ADVANCE in AMERICAN COTTON. STATE OF THE CORN MARKET. &c. die. die* Another of our magnificent fleet of news clippers, the Skimmer of the Seas, boarded the splendid ship Libert Captain Norton, nearly one hundred miles sea law on Saturday afternoon, obtained very late highly important intelligence from her, and t. by an extraordinary express to the office of the Sew York Herald. It reached us early yester day afternoon. The Liberty sailed from Liverpool on the 13th ult. and brings papers to that date. The news which we have thus received, is of the highest importance?of more consequence than any we have received in the last ten years. It is no more nor lets than the resignation of Sir Ro bert Peel?the organization of a itftr Cabinet by Lord John Rutull, and the probable repeal of the corn law. The announcement of this important fact?im portant to the United States, in a commercial point of view, as well, perchance, as in a political aspect threw the whole English public into a state of the greatest excitement. Its effect was tremendous. Ia .addition to this, and as a necessary conse quence, Parliament had been further prorogued, as the following exhibits :? " At the Court at Osborne House, Isle of Wight, the 10th dor of December, 1844. present the Queen's Most Excellent Majesty iu Council.?It is this day ordered by Her Majesty in Council, that the Parliament, which stands prorogued to Tuesday, the 16th day of December inat be further prorogued to Tuesday, the 90th day of December Inst." The Corn-Law question has been the cause of all this. The effect that this news will have upon the rela tions between England and America cannot but bo of the utmost consequence. It may settle the Oregon question on the basis of a commercial treaty with England. American cotton had improved. The following statement is made in the Liverpool Mercury of the 12th.:? The Messsoc or Peace to Amesisa.?An inquiry has been earnestly addressed to us from London, as to whe ther the news touching the expected opening of the ports really left England by the Acadia, from our river, at noon on the 4th instant Our reply is, and we can answer for the fact - it did so. We have entitled it a message of peace, because no one can doubt the effect of the announcement, especially if followed by realiza tion, not only upon the Oregon question, but all other matters of discussion between the two nations. This we know is a mistake. The announcement of the London Times did not come in the Acadia, although it was evidently intended for that steamer. The Frankfort Journal states that the differences between Russia and Rome have been settled. Rus sia will not seek to coerce Catholics to conform to the Greek Church, while Rome engages to watch that Catholics shall not take part in political move ments against the state. This settlement is attribut ed to die conciliatory interference of Austria. The treaty of commerce and navigation between the United States and Belgium contains nineteen articles. The Austrian papers Btate that the winter had al ready set in at Gratz with great severity, and that ? considerable distress existed in Hungary. Ronge has been forbidden to preach in public du ring his residence in Dresden, except on Sundays and holydays. It is rumored at Naples that the marriage of the Queen of Spair. with the Count de Trapani is set tled, and that the vistt of the Due de Moutebello to Palermo is in reference to this question. Resignation off the Ministry. [From the London Herald, Dee 11 ] Sir Robert Peel's Government is at an end. All the members of the Cabinet yesterday tendered their resignation, which her Majesty was pleased to accept. It will be easily believed that we regret this de termination of her Majesty's advisers; but we should much more regret their unanimous determi nation to sacrifice the industry of the country by stripping it of all protection. The important fact now announced proves how completely wrong the Times was when it stated that the Government had decided upon proposing to Parliament, as a Cabinet measure, the repeal of the corn laws. [From the London Chronicle, D?o. 10 ] An official announcement, in another part of our paoer, confirms one part of the statement which we made yesterday?namely, that Parliament, instead of being summoned for the dispatch of business, would oe again prorogued. The other and more important part of our announcement is, we believe, equally correct. The Cabinet, we are assured, re signed yesterday. It is confidently said, that so far from the Cabinet having at any time come to a de cision to recommend the repeal of the corn law, a large majority of his colleagues have throughout been opposed to Sir Robert Peel's recommendation. [From the London Tims*, Dsc. 11] Yesterday, Parliament was further prorogued to the 30th instant. The naming of so early a day would of itself imply that the Cabinet is not now in a state to meet Parliament. The rumors, however, which have been confidently circulated in the beat informed quarterssince Monday, and circumstances which have come to our knowledge since the return of the Ministers last night from Osborne House, leave scarcely any reasonable doubt that the re viving repugnance of the Duke to the decision of his colleagues has rendered it necessary for them to tender their resignation to her Majesty. An un foreseen difficulty of course there must have been somewhere. After so long and close a succession of councils, that difficulty could only arise from a struggle between the declared intentions of the chief and the prejudice or pride of some of his col leagues. Were the Ministry certain of meeting Par liament as the servants of tne Crown, it would have fixecf the day, and our prediction would have been to the letter fulfilled. That is no longer possible. Some minor changes^as we intimated at the first, there would undoubtedly have been, but it is to the graver difficulty that this new and unforeseen delay jn im ?scribed. It is said fo have been only by the most unqualified expressions of opinion that the [ leaders of the cabinet gained the unwilling com pliance of the enlv considerable dissentient. There carffce no doubt that?what was all along to be ao- ' prehended?the representative-general ot the Lords has since felt with returning anxiety the weight of the numerous proxies not less rashly undertaken than rashly confided to his care. The head ot an aria* toe racy demands, it may easily be imagined, a little more time to act. it not to resolve. It is not, however, always possible to adjust the interests ol a Cobinet, much less those of a nation, to the conve nience, the dignity, or the humor ot an individual. An obstinacy which is assumed with a less serious intention, may be maintained a day .too long, to the ruin both of colleagues and cause. Meantime, whatever may happen, whoever may be in next month, very tew hours can pass without proving to the nation the substantial truth of our first momen- | tous announcement?viz., that the leaders of the ca binet were resolved upon proposing a total repeal of the corn laws. They were resolved to the utmost ot their power. They were resolved to do this, or no thing?to repeal the corn-laws or be no ministers.? If thi ... duke sees peril in that measure, or feels re luctance to undertake it, he will have to realise the dangers and disagreeables on the other side of the scale?the dissolution of the conservative ministry, and the interposition of a rival, and in some re spects a more suitable agency. He will be assured that his own punctilios, bo far from impeding the measure, may perhaps only render it the first of a series still less to his taste and convenience. What ever amount of distrust he may feel in his present (if not by this time his late) colleagues, he will b; only too sure of the statesmen and the policy he will help to inaugurate in their stead. If he has not the heart to solicit the lords in behalf of friends, he will, nevertheless, not escape the still more ardu ous task of conducting his little aristocratical troop against the close and serried phalanx of an unani mous people, headed by inveterate foes. SFrom the London Sun, Dec. 11.] Cabinet, then, has come to its end. It has evidently died hard. It was imagined last week that the disease, which has proved fatal, had yielded to skilful treatment, and that the patient would make a new start with greater vigor than ever. But the disease is said to have returned with increased strength, and we have now to record the decease of the old lady, of whom, wishing, at so melancholy a moment, to say all the good that can be said ot her, we are free to confess, that if her course has been tricky and tortuous, her trickB have been tricks to the few and benefits to the many, and that in her last moments, her better feelings are supposed to have been strenuously directed to a trick greater than any of her tricks, which would more than ever have ex asperated her immediate friends, but for which all honest men would have blessed her. Some say that the Duke of Wellington had yielded to Sir Robert Peel's desire to settle the corn law question, and has since revoked his consent; others that he nad never yielded. Be this as it may, it is understood that the Duke of Wellington's opposition has caused the resignation of Sir R. Peel and the break-up of the Cabinet. We like to take a favorable view of men's conduct, and would fain hope that the Duke of Wellington has been resisting, not the repeal of the corn laws, but the repeal of the corn laws by the Cabinet which set itself up to stand by them. Well authenticated rumor has ascribed to the Duke the expression of opinions which would show him to be quite aware that ths corn laws cannot longer stand ; but his high honor may shrink from being himself the man to do the deed. He may feel that the great influence which he wields in the House of Lords may be even more powerfully used, in support of others proposing the measure, than if it could be said that he has apostatized and abused the trust reposed in him to preserve political power. A change, within so short a period as four years, from the high protection doc trines, which gained the implicit confidence of farmers'friends in 1841, to the measures of the anti corn-law league is a chance, the sincerity of which cannot be warranted by less than the sacrifice of Downing street. As to the steps which may be taken by her Majes ty, in consequence of Sir Robert Peel's resignation, a short time will disclose them, and in the mean while we might safely leave it to our readers to con jecture Sir Robert's successor. The nation, of course, looks to the statesman who has lately come forth with a boldness suited to the crisis, renouncing all personal, party, and class considerations, ana manfully avowing past errors?who, if he had been the man to come forward at this or any other time to suit a purpose of his own, would not nave so lone held outagainst the dissatisfaction?against even risk of estrangement of his party, and whom opponents and friends alike concurdkn pronouncing worthy of the name of Russell. [From the London Sun, Dec. 11.] The Ministry of Sir Robert Peel has resigned. The country at large may be startled by a circum stance so unexpected, but such is the fact. Yester day morning the majority of the cabinet, compris ing the Duke of Wellington, the Duke of fiuc cleuch. Sir Robert Peel, Sir James Graham, the Earl of Aberdeen, Lord Stanley, Mr. Gouiburn, the Earl of Lincoln, and Mr. Sidney Herbert?in all, nine out of twelve or thirteen composing the entire cabinet, proceeded by special train to Southampton, and were conveyed by the royal steamer Faiiy to the Isle of Wight. At a court held at Osborne House they tendered their resignation to her Ma jesty, which was graciously accepted ! Here is a sudden and abrupt termination of the Conservative cabinet, and that, too, at the very moment they were supposed, and even demi-otficially announced, to have become the converted organs of free-trade policy in all its ramified bearings. It were idle to speculate on the cause of this un looked for disruption of a cabinet whose whole ca reer has been that of fighting under false or as sumed colors. Kut one circumstance is rather sig nificant. It might have been observed that tne Duke of Wellington did not attend the Cabinet Council held on Monday, after the return of Sir Ro bert Peel from Osborne House on that day. The duke had made up his mind for better for worse, and left tfte cabinet to take its course. It sat only an hour, and during that eventful hour had decided on resigning the government. That decision was, of course, conveyed to the Duke of Wellington, who, prompt to his duty, accompanied the doleful train to Osborne House to resign, what he had often assert ed he did not possess, his ministerial oflice. The duke held no direct ministerial office, but shared responsibility with his colleagues. As Commander in Chief, the Field Marshal is no Minister, but only commands the army, responsible to the Crown and the Parliament. But, in his ministerial capacity as a Cabinet Minister, he wielded more negative pow er, perhaps, than Sir R. Peel himself, from the fact that he held the majority of the House of Lords in his pocket! This circumstance alone was quite enough, without the doubtful aid of hesitating friends, to have decided Sir R. Peel on resigning an office which had become as thankless as it was irksome. But he has resigned in a good and right eous cause, and his reward will be in accordance with his merits. * ? * ? Should a war take place with America, neither Aberdeen nor Haddington could have carried it on with the spirit and skill suited to such a serious contest. The downfall of this hete rogeneous Cabinet will be the worst news for Polk he has received since his instalment into oflice. The Syrian aflair made an impression in America,which established the character of Palmerston for decision and naiional spirit, and Polk would rather see any man in the Foreign office than a nobleman, who, since the days of Canning, is the only minister that has asserted the honor of the country in all her foreign relations. The character of the re mainder may be summed up in a few words. Since the Earl of Ripon was prime minister, and by his pusillanimity excited the ridicuie?ct the Sovereign that called him to oflice, he has been utterly use less. Gouiburn was only the shsdow of a Chancel lor of the Exchequer, and but for the timely aid and tutoring of his principal, would have involved the finances of the country in inextricable confusion. He never could either speak or act, and may be said to have ended his political life in a more honorable way than he or any human being ever could have anticipated. In short, with the exception of Sir R. Peel and Sir J. Graham, the country is well rid of the " strong Ministry." Its demise will give ad ditional impulse to the principles of free trade and salutary reform, and rouse a spirit of resistance to Tory principles, which bids fair to establish a new era in the government of this vast empire. . ? ?????? Report says that Sir Robert Peel's resignation was received by her Majesty without hesitation, although Sir Robert Peers line of intended policy would have had her Majesty's warm support. Lord John Rus sell was at once sent for; but, as the noble Lord is at present in Edinburgh, some days muat elapse be- ! fore he can obey the summons. Parliament cannot j now meet so early as was expected ; and upon the course taken by Sir Robert Peel, will depend the Erogpect of a dissolution. It is believed that SirRo ert will support Lord John Russell in hia general policy. The Premier was almost alone in his views in his own Cabinet. We understand that, in consequence of the resig nation of Ministers, her Majesty will leave Oaborne House on Saturday next, in order to be in nearer communication with those who are to become her new advisers. [Prom the London Standard, Deo. 11, P.M.] As may be naturally supposed, the offi- , ciai announcement of the resignation of the whole oi the members of the cabinet, in the 1 Morning Herald, has produced a great sensation in the city, and has exclusively engrossed attention, j All sorts ol conjectures are hazarded respecting the , result, but, as they are necessarily mere conjectures, it can serve no good purpose to repeat them. A re- I port has, amongst others, been circulated within the last hour, that ner Majesty has sent for Lord John Kussell, but we have not been able to trace the rumor to any authentic source. [From the London Herald, Dee. 13 ] The time lor ascertaining the true causes of the late ministerial movement, has not yetarrived; but some reasons for the late change, bo plausible, are in the mouths ot most men, that we will venture upon stating one which, in our judgment, has the great est appearance of probability. The mill owners of the Anti-Corn Law League nave, it is said, resolved to make the corn laws the pretext ior throwing out of employment some hundred thousand laborers for whom the emulation of their barbarous and Iran tic cupidity, during the last year or two, has really leitnowork. The mill owners of the League are beings capable of anything ; and even without that necessity, which they have created by toiling men during excessive hours oi labor, and draining the very tile-blood of women and children, they would, if they could, without great loss, stop their works in order to carry a political object. They boast that they will do it in order to carry a repeal of the com laws; and the boast, as we nave before demon strated more than once, may be credited, because they must do it. Their insatiable rapacity has an ticipated the produce of two or three years manu factures by killing their fellow creatures with intol erable labor, and if only to get rid of the odium of their monstrous crimes, they would charge the dis tress that awaits the poor ot the manufacturing dis tricts upon Magna Charta or the Bill of Rights rather than own the truth and their own guilt. The corn laws, however, present a more obvious]mark, as laws that interfere with their immediate gambling prolits. They flatter themselves that they could empty their bursting warehouses in exchange ior a large importation of foreign grain,and therefore it is that they have welcomed famine with a disgusting indecency oi exultation, when they falsely hoped that a season of famine had arrived. Thanks to the Giver of all good, of a scarcity of bread there is not the slightest danger; but we greatly fear that a spontaneous or a factitious distress, loo certainly lowers over the manufacturing districts. It cannot, we repeat it, be other wise, after the overworking and overgaining of a year in which the capitals of mill ownere have been doubled. This distress will be industriously ascrib ed to the corn law by its true authors ; and it the corn laws be maintained?as in justice and sound policy they must?every artifice will be resorted to to direct the rage of half a million of starving and desperate men against the legislature that maintains them. A terrible conflict, and one the responsibility of which the bravest man personally could wish to shun, might follow the success ot tne leaguers' prac tices in this respect. We can, therefore, scarcely blame the statesmen who have left it to those who helped to raise the storm to bear the consequences of their own factious dishonesty; and if the trial were confined to the internal government oi Great Britain, we should say, give the Whigs and Leaguers another trial, and welcome. But we can not forget Ireland and the colonies; nor can we overlook the foreign relations of the country; and sweeping the whole of our remote horizon, we can, we own, see nothing to relieve the gloom created at home by the return of the Whigs to office. fFrom the London Timet. Dec. 131 (ImiSi,"' ? i,UChu1B the 8udden and strange cal wnTw' .nX ?ea by aurpnse the whole politi cal world, and such the verification, if not the VuiHl Snf.^5 thC lnteJ1?ence wbich yesterday Kek J? S of th?eUeftrefder8 At 'hat time anothe7conclu harr^LS the JlkyCr!1C8 whlch had evidently long Ssa fca? a srtS'js&sS; Zept ,hP io\e c^raST" I Se h?hust won h? m'Fh( very we" have d'*pensed. I He t ad just won the reluctant assent of the Duke of Wellington, and his promise to prowae the mea mon 'p^r Iorda- !t bad alao >>eePn Sd to "urn Sy. y?L". JrirL5" ?".?S 4nd literal transcript of tlie^riinisterial whs tsdi 8 j w^uTTn'' men^' ? 'minds^tni^also vincedthi'n^" y fnt" into them, we are con vinced that not even the cabinet itself could have given a truer account of the state of affaim Sub 8equ?,1y. however, to the date of our innoJnce tnent the duke withdrew his assent, and joined the id acer orne r ha nSlnH' ?r then leIt lhat " waa not hi? luace, or perhaps in his power, to carrv the mm?n? and #-e I J ^ cu,l,es in which he found himself and rendered his resignation. Her Maiestv was SSlVi 5 ,. P??iWy I* BO arranged. Sir ha* "emoted a Government to supply its place. tw o Liverpool Mail, Dec. IS. hazarHa n\' hKobcrl ^eef' haa dedetermined at all J h<?nor and fame, violated pledges and supporter? P^1.vat? "gagements to those numerous supporters, who had raised him to the most ele doubt P?8Th>a cu0Untry'we do not ^r an instant doubt. The right honorable baronet fell on hia knees at the sound of Lord John Russell's nimv trumpet, holding by the skirts of Lord Morpeth and .mitemgiho m?cj, of Gobdrn. four ?Tn .p" ? bJtiJ if n I.n weavera? ^ree bleachers, and Tn. r k Quakers, manufacturers of small wares llws henei ^ a*,re!,d ,0 0 of the com ln^he first week'hi'*! m?ting of parliament, iu uie nrst week in January, was never resolved beTarranoed^ ,numation of the repeal could not the thr^l aP?*ar 10 l,?e Queen's speech from Inni; . ' "!r hence ^ whol? of the boasted ?o wa-??nm b?inCdeV1Thlch the Time* 'uid claim in?.'Taf ?" 'mp*dent fabrication, concocted for a ln ^rg ^"honorable purpose, by some interest ed person whom the 7W, must know, and who if ever expects to redeem its lost character must nniZceHP?ee- To "Peculate Upon the CO?". aenc?Crf ?d [ l unexP?c'*d resignation, in the ab sence cf details, would be presumptuous. All we t": ?' b:j ??*"? p~c >?? c.nsi.S s??Ud ?!d-.I? ! 1,d de8,*n 0< bre?king up the parajvBin?fh!?ldOC,'ety'rCunVulfllnK n?>onal credit, RrA ,lTyJ01 the country, deteriorating of all .h- r lands, and ruining nine-tenths will MdoIW? In .the Un^d Kingdom, he ever in ^11 in na,ne and ?P?tation for 1118 own meensate innovations. con",deJ for a rroment'who are the classes benefit Th ? uhe corn IaW8 Would exclusively benefit. 1 hose rich manufacturers alone who do or imagme they do, chiefly depend upon foreign mar kets. We deny that any sate dependence can be placed on fore ?gn markets, subject to (he will the 'a'arf8J?,be caprice, or the hostile position of* for eign princes, or unstable democracies. But we as lume, only for the sake of argument, that fhe? markets, in which they realise profits, are to be constantly open to them ; and we then ask what is die avowed object of a free trade in foreign corn ? To reduce the price of corn in England. ?f this re duction be not effected, the repeal would be a mere delusion and a fraud. Corn must fall in price oth "w'ee.,he ?cheme is abortive, and its authors 'fools r? J"/"* ut adm,u,n8 that the soils of Eu rope and America were cultivated for the purpose of supplying the English markets with corn, and the price of wheat, instead of being 57a per quarter as it is at present, should tall to 35s. as is the Manches ter calculation, how could a British farmer afford to S!w? DOt on,yat hla Pfc?cnt rent-charge, his ^Iira,e of?waKps. b"t even if his rent were reduced forty or fifty per cent. 1 ? ? ? a ? a >dvance would then necessarily be the m k Uk'the hop Ujt' 'h? 'or.'tgn wine V',hc ,0.b"^C0 '?*? and 811 the protective duties in favour of British manufactures. What would seven millions of artisans sey to this repeal b^?k orm1,.Tod,? ?h*7 might not be ashamed, bU.'Wh^ouId ?mPloy ,hem ? To beg would be vain. 1 he sap of the country would be gone, and the sources of charity would be dried up. This useful and unhappy class of men would be driven to afppe ration ; they would become re volution into; ivf?H1iiUinary tra*.edy prformed in France in 17TO would be re-enacted in England. [Kroin the Liverpool Maii, Dsc. IS 1 ? by -be rf"'(?nat'on of ministers, is in a much more serious dilemma than many persons remTn?mthrk- s,r Robert feel, it ,a rumored d"f ?^ majority of his colleagues on a mea findinl k t0Uuhe8 ,he V1,all,y of ,he country; and "? 8,tua,ed. h? "rrows up the reins It iKdted wnnWKret,r7- ^ I,U,ded 88 ficuluea in have insurmountable dif fheir ?,rws Th R " admin'?ration to carry out v,ewr The conservative party u divided; suspicion and distrust have long been in the camp; ; some murmur, Bome storm, many are sick, and not a lew disgusted. What, then, is to be done 1 The old whig party, as Mr. Cayley has proved, will not support Lord John Kusseil. lie has done much mischiet in his day, but he never committed bo much upon himseli, : as he did by his recent declaration against all pro tective duties upon corn. Lord Morpeth has sold himself by means of a ?6 note. The split, there lore, in the whig ranks, between those who have land, and those who are landless?between the well-fed and the hungry whig, is immense, and irre parable. Our opinion is, judging by the obscure light in which the defection is yet placed, that a dissolution of Parliament must be the result, followed immedi ately by a general election. In this case the nation at large will be called upon to decide the great question at issue. Much inconvenience to many l>arties must ensue, particularly to those connected with railway bills; but we are far from believing that the inconvenience of delay for six or eight weeks, may not be salutary to the country gene rally. IFrom the Court Journal.] leld a court and privty council yester day at Osborne House, Isle of wight. The council was attended by his Royal Highness Prince Albert; the Duke of Buccleuch, Lord Privy Seal; the Duke of Wellington, Commander-in-Chief; Sir Robert Peel, First Lord of the Treasury ; Sir James Gra ham, Secretary of State for the Home Department; the Earl of Aberdeen, Secretary of State tor Foreign Affairs; Lord Stanley, Secretary of State for the Colonies; the Right Hon. H. Goulburn, Chancellor of the Exchequer; the Earl of Lincoln, Chief Com missioner of the Woods and Forests; and the Right Hon. Sidney Herbert, Secretaiy at War. At the council, Parliament was ordered to be further pro rogued from Tuesday, the 16th of December, unto Tuesday, the 30th of December. Mr. C. Greville was the Clerk of the Council in waiting. At the Court the Right Rev. Dr. Wilberforce, Bishop of Oxford, had an andience of her Majesty, ana did homage upon his appointment to that see. Sir James Graham, her Majesty's principal Secretary of State tor the Home I)epartment, and the Bishop of Norwich, Clerk of the Closet, assist ed at the ceremony. The Earl of Warwick was the Lord in Waiting. Sir Robert Peel, the Duke of Buccleuch, Lords Aberdeen, Stanley and Lincoln, Sir James Graham, the Chancellor of the Exche quer, and Mr. Sidney Herbert,|travelled from town to attend the council by a special train on the South western railway. At Basingstoke the Duke of Wel lington joined his colleagues. From Southampton theparty was conveyed in the Fairy sream yacht to Cowes, arriving at Osborne house at five minutes past twelve o'clock. After the council the cabinet ministers left Osborne house together, with the Bishop of Norwich, the Bishop of Oxford, and Mr. C. Greville, and were conveyed in the Fairy steam yacht to Southampton, where a special train was in readiness on the Southwestern railway. The part|r proceeded to Bashingstoke, where the Duke of we lington alighted from the train ; the other noblemen and gentlemen went to town, accomplishing the distance in one hour and fifty-three minutes." The .tew Ministry. [From the London Sun, Dec. 11] Immediately upon the refusal of vhe Duke of Wellington, on Friday last, to carry out what | he had agreed to do?namely, to propose a i repeal of the corn-laws in the House of Lords?it became apparent that resignation of office ! by Sir Robert Peel must follow. Lord John Rus i sell was recommended to be sent for, and a mes I sengerwas dispatched on Saturday last to com ; mand his attendance at Osborne House. His arrival I there was expected yesterday, and Sir Robert Peel I expected to have met him. Sir Robert, however, returned last night without having seen Lord John. This morning Lord John Russell and Sir Robert Peel had an intervi ew of an hour's duration, after which Lord John Russell left town for Cowes. He had an audience of her Majesty, and has returned ; to town this evening, having had lull powers given him te form a Government. He has sent for Lord Pdlmerston,and is taking, it is believed, all the ne i cessary steps to form an Administration. [From the London Globe, Dtc-11] I Of the precise result of Lord John Russell's visit to Osborne House, little or nothing has yet trans pired. Various Tumors are of course afloat; but knowing that upon thoee points,on which our read ers are most desirous of being informed, nothing canatffeaent be known, we refrain from giving them currency. Upon one point, we can, however, Kak with confidence. We have reason to believe t, notwithstanding the manifest difficulties which a single glance assured him mnst inevitably beset his path, Lord John Russell obeyed the summons of her Majesty with a determination to allow no con siderations of a merely party nature to inteifere with or limit the tender of his services to her Ma jesty and the country at the present juncture. What ever obstacles are now interposed in the way of a fi nal settlement of the corn law question must come from his opponents. If the Home of Lords should, at the instigation of any portion of the late cabinet, place itself in opposition to the course deemed ad visable by Lord John and those who may be pre pared to act with him, the responsibility will be cast without reserve upon the right shoulders.? This will of course result in a direct appeal to the sense of the country; of the result of which, we can, in the present state of affairs, have no doubt.? The circumstances under which the Peel Cabinet has been broken up?the state, present and prospec tive, of the country?and also a proper considera tion of the personal tranquillity of the Sovereign conduce to urge the necessity of a speedy release from the state of uncertainty in which the late min istry has leltlpublic affairs. It is evident that all announcements of new ar rangements must, at present, be altogether prema ture. There has not been a moment's time to com municate with the former or probable parties to such arrangements. The crisis at which Lord John Russefl is called upon to act is of no ordinary nature; and it is only as he can fai rly hope to carry the great question, which His predecessor fairly hands over to him to carty?that he can wisely de termine to net at all. If industry and commerce have not overpowered the mere watchwords of sham Conservatism in the breasts of all interested in industry and commerce, as they have in the breast of the late Premier himself?we had better run the gauntlet through the line of Dukes, and make up our m;nds to a stimulating course of curry powder. That is our alternative to a Corn-law re pealing government. Is it one that commends itself to Conservative interests amongst the cultivating or commercial middle classes 1 It. deserves the attention of those middle classes that one grand governmental experiment has been tried, and has proved a failure. Sir Robert Peel has tried the experiment of making his old party strike into new ways. Beyond a limited point, they refuse to do so; and they turn round on him with some show of right, and much resentment of for feited implied pledges. They thought they hired him to keep things in ttatu quo. He thought he led them to smooth necessary transitions. His sense of the necessity of those transitions has been shown by his measures, and is sealed by his retirement; and by his last act of duty to his Sovereign in advising her choice of a successor. [From the London Standard, Dae. 11.] We have nothing to communicate respecting the formation of the new Ministry. All we know is that Lord John Russell arrived at Southampton this morning at half past 10 o'clock, in the Fairy yacht, from Cowes, and departed for town by the eleven o'clock train. Her Majesty leaves Gosport by the quarter past ten o'clock train to-morrow, for Farn borough station, on her return to London. The ministerial crisis continues to occupy the ex clusive attention of all persons in the city, and all sorts of conjectures are haxarded respecting the re sult, according to the bias of the parties. Indepen dently of the deep importance of the main question presumed to be at issue, there are several auxiliary subjects pressing on attention which renders any hi atus in the executive government at themoment much to be regretted. Foremost in this category stands the railway business, and more especially that portion of it which involves the deposits lodged in the hands of the bankers. Had the government gone on in the usual routine, there was no serious obsta cle anticipated to such an arrangement being made for paying over these deposits to the Accountant General, as would have produced but little inconve nience in the money market. It is now, however, generally taken for granted, that the resignation oi ministers will render a dissolution of Parliament essentially necessary, which will very much com plicate the railway question by the delay. Meet ol the bankers that held the deposits have been hold ing large surpluses of money unemployed, under the impression that Parliament would meet at an earlier period than usual, in order to facilitate the railway business; but the uncertainty which now prevails on the subject respecting the time they will be required, leaves them altogether at sea as to fu ture calculation. This state of uncertainty is the j more embarrassing as it occurs at a season of the year when acconnts are generally balanced by the mercantile interest, when the precise accommoda tion they may require should be calculated upon without the risk of after derangeihent. That branch of the question is irrespective of the consideration of the whole of the arrangements of the last session of Parliament, respecting the railway bills left pend ing being upset by ? dissolution. Most gratifying is the assurance which we are able to offer to our friends, that notwithstanding those differences which rendered a dissolution ot the cabinet unavoidable, there is not the slightest dan ger of any schism in the great conservative party, or of any desertion from it. The whole ot the cabinet retires without a shade of personal hostility among its members, or any difference of sentiment up?n the proper policy, except upon the one question of a repeal, or rather modification, of the corn laws Upon this question, too, the difference is much less Uian has been supposed. It is, we believe, true that Sir Robert Peel has even insisted upon a considera ble relaxation of the laws in question, to be accom panied, however, by a compensation to the agricul :?landowners, farmers, and farm la tural interest?iouuuitucii, ,?<?v? d, um. ???>?? la borers?not only adequate, but ample. What this compensation is,"we are not able to guess; the events, it was not considered however, have proved that sufficient by the whole cabinet; and we must at present agree with the dissentients. Nevertheless, it is certain that Sir Robert Peel will support no measure of repeal upon any other terms than those of what he considers an adequate compensation to the agriculturalist; so that unless the new ministers proposed such an adequate compensation, they will find themselves opposed by the conservative majo rity of more than one hundred, undiminished by a single unit, and reinforced, no doubt, by many honest whigs like Mr. Cayley. Even if they have recourse to a dissolution, they are more likely to loose than to gain, but they must gain more than fifty seats to replace themselves in their glorious majority of one, and it is perfectly impossible that they can gain the half of fifty. A gain of one hun dred votes will be necessary to raise them to the position from which Sir Robert Peel's government retires. So much tor conservative prospects. [From the London Post, Dec. 12.] On Wednesday last, at the council that assembled at Osborne House, Sir Robert Peel and every mem ber of his cabinet tendered the resignation of their respective offices, and these resignations her Ma jesty was graciously pleased to accept. The Queen has since entrusted to Lord John Rus sell the duty of forming a new cabinet. His Lord ship appears to have received the very earliest inti mation that his services were likely to be required, since we find that, on Tuesday morning, immedi ately after the arrival of a messenger from London, the noble Lord quitted the neighborhood of Edin burgh on his way south. Yesterday Lord John Russell was honored with an audience by the Queen, at her Majesty's residence in the Isle of Wight. Such are the details?so far as we can collect them?of the atatement we made in a considerable portion of our impression of yesterday. The following is the most correct list of the new Cab inet:? First Lord of the Treasury. . .Lord J. Russell. Lord Chancellor Lord Cottenham. Secretary of Foreign Affairs. .Karl of Clarendon. Secretary for the Colonies.. . Vicou&t Palmerston. Secretary far the home Depart ment Marquis of Normanby. Chancellor of the Exchequer..Mr. Baring. President of the Council Marquis of Lansdarwne. President of the Board of Trade. .Mr. Labouchere. Vice President Mr. Sheil. First Lord of the Admiralty.. .Earl of Minto. Lord-Lieutenant ot Ireland. ...Earl Fortescue. First Commissioner of Woods and Forests Earl of Bessborough. Ambassador to Psris, Lord Beauvale. Ambaiaador to St. Peteraburgh, Marquis of Clanri carde. The great objection to the correctnen ol thia liat ia that one doea not find in it the name either of Sir Robert Peel or of Mr. Cobden. [From the Liverpool Mercury, Deo. 13.] In the present state of things, it would of course be premature to announce any arrangement as to the persons aud places in the new Government.? The I following ust'.wae, however, pretty generally credited last night in political circles. Kirat Lord of the Treaaury?Lord John RuasolL Lord Chancellor?Lord Cottenham. Secretary of State for Foreign Affairs?Lord Palmers ton. Secretary of State for the Home Department?Lord Morpeth. Secretary of State for the Colonies?Lord Orey. Under Seoretary for thefColoniea?Mr Charles Buller. Chancellor oi the Exchequer-Mr. Baring. Attorney Uenersl?Sir T. Wilde. Solicitor General?Mr. Dundas. Lord Lieutenant of Ireland?The Marquis cf Nor Prealdent of the Council?The Marquis of Landsdowne. Ambassador at Paris?Lord Clarendon. [From the London Sun, Dec. 11.] Lord John Russell having undertaken the task of forming a new administration, is proceeding with all despatch in making his arrangements. Lord Palmeraton has been sent for, and will quickly arrive in London. To him the Foreign office will be confided. * Lord Normanby, in all probability, takes the Home office. Lord Grey the Colonial office. Mr. Baring resumes the Chancellorship of the Ex chequer. Lord Morpeth may possibly go to Ireland (where his popularity would render nim as admirable Lord Lieutenant.) Lord Cottenham resumes the Chancellorship of England. Lord Campbell the Chancellor of Ireland. Sir Thomas Wjlde and Mr. Jervis will he Attor ney and Solicitor Generals. Lord Minto takes the Admiralty. Sir John Hobhouse, Mr. Charles Buller, Mr. 1 Hawes, Sir George Grey, and Mr. Tufnell, will form parts of the government. Sir C. Napier and Admiral Dundas are to join the Admiralty Board. Such are the on diU of the day. It is understood that before Lord John Russell's departure he addressed commuuications to several of his late colleagues, only one of whom, we believe, Mr. Baring, happened to be in London. We believe that Sir Robert Peel feels delighted at his freedom from the trammels of office, and from the disagreeables of the last twelve months. All the officials are busy packing up the papers, and leaving a clear board for the new administration. As porta?and important parts, too?of the admin istration, public opinion points strongly to Mr. Cob den and Mr. Villiers. No administration will be deemed complete in which the men of the people are not included. The Peel government, ever since its advent in 1841. has been compelled to court pon xopinion: and to the necessity which Sir K. ularopinion: and to the necessity ......... ... Peel felt of doing so still more, is the overthrow of the conservative party owing. Lord John Russell cannot forget what he owes to the free trade party, nor to whom he owes his return to power. [From the London Post. Dsc. 13.] What may be the tactics of the new Ministry seems a matter of considerable dubitation with the political public. A dissolution of Parliament was the first thing tb _ _ ing that suggested itself to people's minds, as the present House of Commons coald hardly be expected to furnish, the Whigs with a working ma jority ; but sgainst this measure it is urged that the most serious inconveniences to the public interest must necessarily follow on a dissolution. The lock ing-up, lor so many weeks, of the capital deposited by projected railway companies, is mentioned as one point deserving of careful consideration; and ano ther is, that many railway bills, that were not finish ed last session, must be brought forward dt novo in the new parliament, instead of being taken up at the stage in which they were left at the period of proro gation in August. This, it is argued, would not only be a cruel inlliction of expense on the compa nies so situated, but a positive breach of faith with them on the part of the Government and the House of Commons. Then there is the state of our rela tions with America. Imagine Parliament dissolv ed when a hostile message from " His Excellency" Mr. Polk should arrive. Whence are to come the sinews of war 1 In short, there is embarrassment on all hands. Let the new minister continue the Sresent parliament, and in all human probability he nds himself in a minority; let him dissolve it, and there is an equal probability that he will be unable to carry on the "Queen's Government." But, as his friend Sidney Smith said, " Lord John Russell will undertake any thing?the command of the channel fleet, the building of St. Paul's, or the operation for the stone." It is not to be wondered,at therefore,that he feels no hesitation in facing the perils of his pre sent position. , . It IS so much the way of the world to forget old friends, especially when they chance to have no good things to give away, that people talk very littls about the members of the late Cabinet. This map perhaps be owing, in some sort, to the habit of Sir Robert Peel, who spoke often of himself and seldom of his colleagues; hut still he had colleagues, and men of "note and mark," in many instances. Of these, we believe, we may safely say the Duke of Wellington strenuously and succesafully opposed, to the last, the repeal of the corn laws. Of the Duke of Huccleuch we sre assured the same may be pre dicted. ^ird Stanley, we have reason to think, 1 was firm in favor of protection to British industry ; in fact, we might go on to enumerate the majority of the cabinet, for it was to a majority that Sir Ro bert Peel tuecombed in his vain attempt to establish free trade in corn. No endeavor is made to account for thia extraordinary proposal on his part, though it is rumored that he was seized with panic nt the run made upon the stock of bonded corn for llie purpose of exportation. Whether the cause or the effect more prove the practical weakness of the minister, we leave others to judge. " We tell the tale as 'twas told to us." Some friends of the late Cabinet are still sanguine of its speedy restoration to oflice?of course without Sir Hubert Peel at its head. What is to become of him does not clearly appear. A correspodent, in deed, last night informed us that "Sir Robert Peel will be immediately created a Peer by the titles of Baron Trent, Viscount Drayton, and Earl of Tam worth, and that in the House of Lords he will give his i independent support to that measure, of the poli cy of which he has failed to convince his colleseues." .And here, for this occasion, closes our Budget of Ministers present, and to come. Mr. Labouchere has promptly followed the exam ples of Lords John Russell and Morpeth, as appears by ihe following address, which he has caused to be circulated in the form of a handbill To the Bailii n or the Bomouoh or Tiumon :? Came Hoi si:, DsC. 9, 1844. Gentlemen?I understand that it ia intended to invite you to call a public meeting ot the inhabitants of Taun ton, to consider the subject of the corn law, and as I aw afraid that it will not be in my power to attend it, I ad dress you for the purpose of conveying my opinions to my constituents. For many years, both in office and as an independent member of parliament, 1 have opposed the laws which have regulated the adtnisaion or foreign corn into thia country. It appeared to me that the principle of the sliding scale on which they were founded, was fraught with delusion to the landed'interest which it professed to favor, while from its anti-commercial character it was most injurious to the community at large. If ? trade which is indispensable to the subsistence of the people ia ren dered by legislation expensive, hazardous, and uncer tain, it is clear that all thia additional peril and vexation must on the long run, be paid for by the people themselves. But we were assured that the scale had at last been so skilfully constructed, that it could aever exclude the adequate supply of foroign corn when it was really wanted. The circumstances of the present season furnish an additional proof of the futility and mischief of all these contrivances to supersede the steady and equable provision for our wants which com merce, when left to her own free action, can alone suita bly afford to us. Wheat of a good quality is selling in Mark Lane at above seventy shillings a quarter, tear city is apprehended. Foreign nations are drawing their suppliea from our warehouses. But the operation of the averages haa haen such that bonded grain ia excluded from our markets by a prohibitory duty. In desiring the repeal of the existing law, I wished that a moderate fixed duty should be substituted for it, as the system upon which, under all the circumstances, I thought it expedient that the corn trade should for some time be conducted. I will not trouble you with all the arguments which induced me to prefer this course. It seemed to me to be most in accordance with that prudence and circumspection which become stateamon and parliaments when dealing with questions which affect the gravest interests and excite the strong est passions of multitudes. It was cei ta.nly recommend ed by the writers whose naims carry with them the greatest weight of authority. 1 believe that it was adopted by most mercantile man. as distinguished from manufac turers, who for the moat part desired that all duty should at onoe cease; and also by a very respectable minority those connected with the landed among those connected with the landed intereat itself. I thought I saw in all thia the material* for a fair and stable compromise. But the progress of events has rapidly diminished, and at last extinguished, all chance of any such trrange raeut. It was strenuously opposed by the great body of the agriculturists and by the ministers of the Crown, whom they had placed in office. Indeed the latter tusd every means in their power to discredit it, and to pre vent any choice being offered to the country, except be tween a law lika the present one and total repeal, and thair efforts have been attended with suoceea. Now, gentlemen, as I believe this to be the actual con dition of this question, my choice cannot be doubtfuL I see no reason to regret the course which 1 have pursu ed, nor have I altered any opinion which 1 have hitherto entertained; but I am aura that it ia now my duty to vote for the absolute repeal of the corn law. I will add that the circumatancea of the season are vary favorable to such a change, which would confer great and apeady benefit upon the country generally, while it could hard ly excite the fear of present mischief among the agri culturists. Gentlemen, I beg that you and all m^ constituents will have the goodness to excuse this long letter. It will probablylsave you from the obligation of hearing a longer speech, (which, bows/or, would, I know, hava been received by you with your accustomed indulgence. I am, gentlemen, your very faithful servant. H. LABOUCHERE. The Railway Bubble. I From the London Sun, Dec. U J The announcement of the Speaker's intention to authorise payment of railway deposits to the A? count-General by instalments, has considerably al layed, as might have been expected, the anxiety about the transfer of the whole large sum which wall have to be deposited by the applicants for bills in the next session. We take lor granted that the bank directors, and leading bankers of^ railwsy companies, who by concert may do much, will do their utmost to carry out beneficially this mode of payment by instalments. One instalment paid into the bank will be available to assist the bankers for payment of another instalment; or the investment in government securities of sums already paid to the int-General, will tend to credit of the Accountant-) prevent depreciation of these securities, ont of which companies may have to sell, for the transfer of a further Bum. While there is no donbt that the transfers bjr in stalments will be a very great relief, it is still much to be regretted that the interviews between the bankers and the Chancellor of the Exchequer have not yet resulted in an undertaking by the govern ment to introduce, immediately on the meeting of Parliament, and carry,without delay, through all its stages, a short bill to allow the Accountant-Genera] to receive government securities, as well as money, in imyment of the deposits. This would set the public mind entirely at rest on this important ques tion. There is, at least, a fortnight after the meet ing of Parliament, in which to pass such a bill. Fourteen days from the first Friday after Parliament meets are allowed for presenting private petitions, and the required sum must be deposited before the petition is presented. Such a lull, introduced by the government, could meet with no opposition. Whatever opinion individuals may entertain of the character of the railway movement, every one must wish to diminish, if possible, its evil consequences ; no one can wish to punish speculators, whether dis honest or honest, but foolish, by producing a convul sion of the money market. We hope that, it the government do not qnickly promise to do what in them lies, the directors ana 1 hankers of leading railway companies will combine to press them to it. In a matter of this kind any ad ditional day's suspense is a serious evil. Let the government make up its mind at once, and, without delay, declare it. In the mean time, we end as we began, by saying that the Speaker's authori'y for payment by instal ments, will do much good, and has already been felt beneficially. And we have a very strong belief that amalgamations and other causes will considerably reduce the sum to be deposited, and that the current calculation of thirty millions is to a great extent imaginary. A short time will show. The Banx of England.?The movement of the Bank of England for the week ending on the 29th ultimo, gives the following changes, compared with the week ending on the 22d ultimo .?In the department of issue the notes had decreased ?902, 740, which had been effected by the abstraction of ?281,960 of gold coin or gold bullion, and ?20,790 of silver bullion. On the debit side of the banking department the the rest had decreased ?6,798; the public deposits had increased ?307,418; the private or other deposits had decreased ?81,804; and the seven day and other bills had decreased ?18, 015, making the total of the liabilities ?38, 508,300. On the credit side the government securities remained unaltered; the other se curities had increased ?416,864; the notes had decreased ?144,(MO; and the gold and silver coin had decreased ?19,913, which squared the ac count. The bullion in both departments of the bank had decreased from ?13,659,601 to ?13,286,848, be ing a difference of ?322,668. The paper in actual circnlation, including the aeven-day and other bills, was ?21,847,039, against ?22,023,164, being a de crease of ?176,116. There were rather more bills on Tuesday after noon on some of the continental towns, but there are only some very light shades of difference in the rates of exchaage. Amsterdam, three months, 12 8j 9; Austrian, 26 6; Hamburg, 13 I2J 13d i *?" ris, 25 87fc 92J; Vienna, 10 6 7; Trieste, 10 7 74 ; Leghorn, 30 05 70; Madrid, 30 35|; Oadix, 85|; Lisbon, 52||; Oporto, 52Jf. Foreign Theatricals: Miss CnsiiMAX and Skkridaw Kwow.m?^u, accomplished actress, slier <te'?htiag.the audiences for the last fortnight with her and varied performances, took her <??weU benefit (CufnrHflv evening- rhc performance? were aJSA ? I.., two .01. Ol "Ijw M.ooenoa We fied to see an overflowing house. We understand that she ha* proceeded to Newcastle upon-Tyne, to fulfilsfhortengagement IB that town, prior Is ap pearing in London on the 29th instant. On this oc casion she will perform the part of Romoo, and her sister, a lady who is no stranger to the America* stage, but who is new to this country, will make her appearance as Juliet. We should not emit to mention a little incident which occurrrd before the curtain row on Saturday. Mr. Sheridan Ivnowle?, whose great admiration for Miss Cushman s acting

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