The New York Herald Newspaper, January 19, 1846, Page 1

laeieneiilighsicee teeenneta taunted THE NEWYORK HERALD. NEW Vol. XII., No. 18—Whole No, £231. YORK, MONDAY MORNING, JANUARY 1 9, 1846.‘ BY BXOLUSIVE OVERLAND EXPBESS FOR TE 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. Further Prorogation of Parliament. GREAT POLITICAh REVOLUTION IN GREAT BRITAIN. Ministerial Crisis. ADVANCE in AMBRICAN COTTON. STATE OF THE CORN MARKET. &e. Se. des Another of our magnificent fleet of news clippers, the Skimmer of the Seas, boarded the splendid ship Liberty, Captain Norton, nearly one hundred miles at sea late on Saturday afternoon, obtained very late and highly important intelligence from her, and sent it by an extraordinary express to the office of the New 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 less than the resignation of Sir Ro- bert Peel—the organization of a new Cabinet by “Yord John Russell, and the probable repeal of the _ paper, confirms one part of corn law. The announcement of this important fact—im- portant to the United States, in a commercial point of view, as well, perchance, asin a political aspect— threw the whole English public into a state of the greatest excitement. Its effect was tremendous. Inaddition.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 leg er 10th day of December, 1845, prevent the Queen’s Excellent Majesty in Council.—It is this day ordered by Her Majesty in Council, that the stands proregued to Tuesday, the 16th day of December fost. be fe to tuesday, the 30th day of December 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 be of the utmost consequence. Jt 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 Liverpest Mercury of the 12th. :— been earnenlyadareteed {0 us from Londo don. al to whee paul Tea git pe Rta Fon Ss Soe ‘at noon‘on the 4th instant. Our reply is, and we can answer for the fact—it did so. We have entitled it a e of peace, because no one can doubt the e: tion, bot only upon ine reer question, but all other matters of discussion between the two nations. This we know is amistake. The announcement of the London Times did not come in the Acadia, although it was evidently intended forthat 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 isattribut- ed to the conciliatory interference of Austria. The treaty of commerce and navigation between the United States and Belgium contains nimeteen articles. The Austrian papers state 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 ueen of Spairt. with the it de Trapani ii - a and aera the vistt of Sonera Moutebello to Palermo is in reference to this question. Resignation of the Ministry. [From the London Herald, Dec. 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. aia 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 the industry of the country by ‘stripping it of all protection. ie 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, Dec. 10 An official announcement, in another hak of our the statement which we made yesterday—namely, that Parliament, instead of being summoned for the dispatch of business, would be again prorogued. The and more important part of our announcement is, we believe, equally correct. The Cabinet, we are assured, re- signed yesterday. 1t is confidently said, that so far from the Cabinet Saves. 6 any time come to a de- cision to recommend repeal of the corn law, 2 large majority of his- colleagues have throughout been opposed to Sir Robert Peel’s recommendation. [From the London Times, Dec. 11.] Yesterday, Parliament was further prorogued to the 30th instant. The naming of so early a day would of itself that inet is not now in a state to meet iament. 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 rend. i esary for them dine salginioe ts ther M j Pgs ph declared intenti and the prejudice or peide of poet chit col- Par- have leagues. Were the Mini rtain liament as the servants ‘ol the € hf xo fixed to the Crown, it wor the day, and our ction 01 ‘as we inti the Isle of Wight. eiect House thay toate 8 opinion that th gained the unwilling com- | considerable dissentient. There can be no doubt what was all along to be aj Prchended—the. Tepresentative-general of the Lords as since felt with returning anxiety the weight of the numerous proxies not less rashly undertaken than rashly con! to his care. The head ot an aris tocracy demands, it may easily be imagined, a little more time to act, it not to resolve, id is not, however, always possible to adjust the interests ol a mience, ihe dignity, or the henna fedioona » t or mor of 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, bane oy) happen, oeercmgerey be in next ,.very few hours can pass without proving to the nation the substantial truth of our first momen- Led icetnninarene Pit that the Neto] of aed ere resolved upon ing a total re; the corn laws. They poll yee te to the die nae of eir power. They were resolved to do this, or no- eee repeal the corn-laws or be no ministers.— If the duke sees peril in that measure, or feels re- luctance to undertake it, he will have to realise the the most unqualified 3 s leaders of the cabinet parege pliance of the enl; [From the London Standard, Dec. 11, P.M.} _As may be naturally supposed, the offi- cial announcement of the resignation of the whole of the members of the cabinet, in the Morning Herald, has produced a great sensation in the city, and has exclusively cogmnened, attention. All sorts of conjectures are hazarded respecting the fesult, but, as they are necessarily mere conjectures, it can serve no good purpose to repeat them. A re- ay has, am others, been circulated within the jast hour, that her Majesty has sent for Lord John Russell, but we have not been able to trace the Tumor to any authentic source. . {From the London Herald, Dec. 12.) The time for ascertaining the true causes of the late ministerial movement, has not yetarrived ; but some reasons for the late change, so plausible, are in the mouths of 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 on ay have, it is said, resolved to make the corn laws the pretext for throwing out of employment some hundred thousa' rere for whom the emulation of their barbarous and fran- tic cupidity, during the last year or two, has really dangers and disagreeables scale—the dissolution of the consetvative ministry, and the interposition of a rival, and in some re- spects a more suitable agency. He will be assured that his own punctilios, so far from impeding the measure, may perhaps only render it the firstof 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) 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 against the close and serried phalanx of an unani- mous people, headed by inveterate foes. From the London Sun, Dec. 11.] The Peel Cabinet, then, has come to itsend. It has evidently died hard. itwas imagined last week that the disease, which has proved fatal, had yielded to skilful treatment, and That the patient ein make a new start with greater vigor 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 somelancholy a moment, to say all the good that can be said ot her, we are free to confess, that it her course has been tricky and tortuous, her tricks 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 thanany 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 Well m had yielded to Sir Robert Peel’s desire to settle the corn law pay and has since revoked his consent ; others at he had never yielded. Be this as it may, it is understood that the Duke of Wellington’s oppesition has 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 restating, not the repeal of the corn laws, but the repeal of the corn laws by the Cabinet which set itself up tostand bythem. ‘Well authenticated rumor has ascribed to the Duke the expression of opinions which would show him to be quite aware that the 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 repoped 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 farmere’ friends in 1841, to the measures of the anti- corn-law league is a change, 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 aight mately leave it to our readers to con- jecture Sir it’s successor. The nation, of course, looks to the statesman who has lately come forth with a boldness suited to the crisis, renounci all personal, party, and class considerations, ly avowing ea errore—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 have so lon, we outagainst the: dissatisfactio 7 inet even ris! of ment of his , and whom o| ts and friends, alike alinaiee Uatutineing eacthy.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 a 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 Buc- 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 the royal steamer Fairy to it. At a court held at Osborne e red their resignation to her Ma- jeoty, which Was graciously accepted! Here is a sudden and abrupt termination of the Conservative cabinet, and that, too, at the very moment the were B even demi-officially announced, to have become the converted organs of free-trade policy in all its ramified bearings. It were idle to 9 te 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. But one circumstance is rather sig- nificant. It might have been observed that the Duke of Well n_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 the cabinet to take its course. It sat only an hour, and during that eventful hour had decided. on Tesigning the government. That decision was, of course, conveyed to the Dukc of Wellington, who, prompt to his duty, ace the doleful train to Osborne House to resign, what he had often assert- ed he did not possess, his ministerial office. The duke held no Ciba barren office, but shared Ter ly with his colleagues. As Commander in Oniet, the Field Marshal is no Minister, but onl; commands the army, responsible to the Crown ani the Parliament. But, in his ministerial capacity as a Cabinet , 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 was quite his pocket! This circumstance alone enough, without the doubtful aid of hesitating on the other side of the | beings capable lett no work. The mull owners of the League are [ e of anything ; and even without that necessity, which they have created by toiling men during excessive hours of labor, and draining the yery life-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 corn laws; and the boast, as we have before demon- straied more than once, may be credited, because they must do it. Their insatiable rapacity has an- ticipated the egret 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 troop | their monstrous crimes, they would charge the dis- tress that awaits the poor of the manufacturing dis- tricts upon Magna Charta or the Bill of Rights rather than own the truth and their own guilt. e corn laws, however, present a more obvious§ mark, as laws thet interfere with their immediate gamblin; profits. They flatter themselves that they cou! empty their bursting warehouses in carbene fora large importation of foreign grain,and therefore itis that they have welcomed famine with a disgusti indecency of exultation, when they falsel hoped that a season of famine had arrived, Thanks to the Giver ofall good, of a scarcity of bread there is not the slightest danger; but we greatly fear that a spontaneous or a factitious distress, too 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 owners have been | th; doubled. This distress will be industriously ascrib- edto the corn law by its true authors ;, and if 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, one the responsibility of which the bravest man personally could wish to shun, cpa the success of the leaguers’ prac- tices in respect. We can, therefore, scareely 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 of Great Britain, we should say, give the Whigs and Leakey 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. (@rom the London Times, Dec. 12.) * * * * * Sir Robert Peel has resigned, and Lord John Russell has been invited to forma new administration. Such 1s the sudden and strange event which has taken by surprise the whole politi- cal world; and such the verification, if not the fulfil- ment, of the intelligence which yesterday week as- tonished ourreaders. At that time another conclu sion of the controversies which had evidently long harrassed the cabinet, was cenfidently july expected. Sir Robert Peel had then gained over to a total repeal of the corn laws all his colleagues except three or four, with whose co-operation, if re- rt speaks true, he might very well have dispensed. a i just ery ies reluctant assent of sr ike of ‘ellington, and hia promise to propose the mea- sure in the lords. It had also bec settled to sum- mon Parliament early in January for this pur- pose. Our readers then 8 an exact and literal transcript of the ministerial state and intentions. We.had not even omitted to notice the “insignificant and doubtful” exce to the unanimity. Unless it had been eyes le to tell, not only what was in men’s minds, but also what might possibly enter into them, we are con- vinced that not even the cabinet itself could have given a truer account of the state of affairs. Sub- sequently, however, to the date of our announce- ment the duke withdrew his assent, and joined the minority. The premier then felt that it was not his place, or perhaps in his power, to carry the measure. On Saturday, accordingly, Sir R. Peel informed the Queen of the difficulties in which he found himselt, and tendered his resignation, Her Majesty was pleased to express a great desire to retain his ser- vices, it it could possibly be so arranged. Sir Robert Peel could no alternative, and the Queen summoned Lord John Russell to her coun- ceils. On Wednesday the whole ministry resianed, and is now Sire in ing office till Lord John Rus- cell has sele a Government to supply its place. _ From the Live: Mail, Dec. 18. That Sir Robert Peel has dedetermined at all hazards of honor and fame, violated pledges, and public and private engagements to those numerous aupporters, who had raised him to the most ele- vated position in the country,we do not for an instant doubt. The right honorable baronet fell on his knees at the sound of Lord John Russell’s puny trumpet, holding by the skirtsot Lord Morpeth, and imploring the mercy of len, four cotton spin- ners, six cotion weavers, three bleachers, and a brace of Quakers, manufacturers of small wares. Tie Cabinet had mot agreed to a repeal of the corn laws; hence the intended meeting of parliament, m the first week in January, was never ved upon ; hence the inumation of the repeal could not be arranged to appear in the Queen’s om from the throne; and hence the whole of boasted priority ot intelligence, which the Times laid claim Lapa te or um aphearcatatn ed fora jobbing and dishonorable purpose, by some interest- ed person whom Times must know, and who, if it ever expects to redeem its lost character, must name and expose. To speculate upon the conse- quences of this hota resignation, in the ab- sence of details, would be presumptuous. All we shall say is that, if Sir Robert Peel, has committed himself to this wild design of breaking up the . n a settled orders of society, convulsing national credit, friends, to have decided Sir R. Peel on resigning | paralysing the industry of iorating an office which had become as thankless as it was | the value Eger dag ie RT re irksome. But he has re: d in a good and right- | of all the farmers in the United Kingdom, he bord bee Te his re will be in accordance | will, ee to, perish in name and reputation for ver, ff insent ii a * * * * Should a war take place with : Toten poy Frame era mp ip me America, neither Aberdeen nor Haddii could have carried it on with the spirit and skill suited to such a serious contest. The d6wnfall of this hete- Togeneous Cabinet will be the worst news for Polk has received since his instalment into office. The Syrian affair made an impression in America,which established the character of Palmerston for decision and national 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 Sey rere excited the ridicuiect the Sovereign that called him to office, he has been utterly use- less. Goulburn was only the shadow 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 contusion. 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 « M .” Its demise will give ad- cision impulse to the principles of free trade and tary 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 Peel’s line of intended policy would have had her Majesty’s warm support. Lord John Rus- sell was at once sent for; but, asthe noble Lord is at present in Edinburgh, some must elapse tore he can obey the summons. ‘liament poke now meet so early as was ex) 3.and upon the course taken by Sir Robert Peel, will prospect of a dissolution. It is believed that Sir Ro- rt will support Lord John Russell in his general policy. The Premier was almost alone in his views fe uni in consequence of nation of Ministers, her Majesty. will leave Osborne House on Sai next, in order to be in nearer communication with those who are to become her new advisers, whom a repeal of the corn laws would exclusively benefit. aire poe Se aries de an who do, or imagine they do, chiefly de; upon foreign mar- kets. We deny that pe ain dmpendiece von be placed on foreign markets, subject to the will, the interest, the caprice, or the hostile position of for- eign princes, or unstable democracies. But we as- sume, only for the sake of argument, that these markets, in which they realise profits, are to be constantly open to them; and we then ask, what is the avowed object of a free trade in foreign corn ? | To reduce the price of corn in 5 this re- duction be not effected, the repeal would be a mere dejusion and a fraud. Corn must fall in price, oth- erwise the echeme is abortive, and its authors fools or madmen. But admitting thet the soils of Eu- tope and America were cultivated for the purpose of supplying the English markets with corn, and the price of wheat, instead of being 57s per quarter, as itis at present, should fall to 35s. as is the Manches- ter calculation, how could a British farmer afford to grow wi not only at his present rent-charge, his taxes, and the rate of wages, but even if his rent were reduced forty or fifty per cent. 1 * The next advance would then necessarily be the repeal of the malt tax, the hop tax, the foreign wine and spirit tax, the tobreco tax, and all the protective duties in favour of British manufactures. What ans say to thie repeal it not be ashamed, To beg would be would seven millions of and reform? To dig they but who would employ them vain. The sap of the come ae be gone, an the sources of charity would be dried up. This useful and unhappy class of men would be driven to desperation ; y would me evolutionists ; the inary tragedy feetpemed in France in 1798 would be re-enacted in England. ‘From the Liverpool Mail, Dec. 13.] wy The nation, by the Fempnecioa of ministers, is in amuch more serious dilemma than many persons seem to think. Sir Robert Peel, it is rumored, dif- fers trom the majority of his colleagues on a mea- sure that touches the vitality of the country; and | finding himeelf so situated, he throws up the reins | of goverment a retires. The landed interest, as it is called, would have almost insurmountable dif- | ficulties in forming an administration to carry out | proceeded to Bashingstoke, where the id | ministers will render a dissolution of |ture calculation, This state of uncertainty is the suspicion and distrust have long been in the camp; | ym ppoineal some storm, many are sick, and not a few di * What, then, isto be done? The old whig party, as Mr. Cayley has proved, will not si rt Lord John Russell He has done much mmischiiel, in his day, but he never committed so upon himeelf, | as he did by teetive duties upon corn. Lord Morpeth has sold | himself by means of a £5 note. ‘The split, there- land, an who are landless—between the | wee 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 parties must ensue, parti ly to those connected with railway bills; but we are far from believing that the inconvenience of delay for six or eight eg may not be salutary to the country gene- ly. From the Court Journal.) “ The Queen held a court and ny council yester- day at ne 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-Chiet ; Sir Robert Peel, First Lord of the ury; Sir James Gra- ham, Secretary of State for the Home Department ; the Earl of Aberdeen, Secretary of State tor Foreigs 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 tl Woods and Forests ; and the Right Hon. Sidney Herbert, Secret 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, and did homage upon his appointment to that see. Sir James Graham, her Mujesty’s principal Secretary of State tor the Home parE, 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- of the whole of the arrangements of the last cane ! of Parliament, respecting the railway bills left pend- | ing being upset by a dissolution. lost gratifying is the assurance which we are | able to offer to our friends, that notwithstanding | those diflerences which rendered a dissolution of the cabinet unavoidable, there is not the slightest dan- his recent declaration against all pro- | ger of any schism in the great conservative party, or | Sir Robert Peel at its head. What is to of any desertiontrom it. The whole ot the cabinet retires without a shade of personal hostility among the proper policy, except upon the one question of a | repeal, OF er modification, of the corn laws. Upon this question, too, the “diflerence is much less | been sy; . Itis, we believe, true that | Sir Robert Peel even insisted upon a considera- ble relaxation of the laws in question, to be accom- panied, however, bya compensation to the agricul- tural interest—landowners,’ farmers, and farm la- borers—not only adequate, but ample. What this compensation is,we are notable to 3 the events, however, have proved that it was not considere: sufficient by the whole cabinet; and we must at present agree with the dissentients. Neverthelese, 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 cnlesathe new ministers morowed 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 recouree 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 itis 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 Gene and these resignations her Ma- jesty was graciously pleased to accept. ‘he 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. seeeey, Lord John Russell was honored with an audience by the Queen, at her Majesty’s residence in the Isle of Wight. lington joined colleagues. |rom Southampton e party 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 ry uke of Wel- ington alighted from the train ; the other noblemen and gentlemen went to town, accomplishing the distance in one hour and fifty-taree minutes.” ‘Tho New Ministry. _ [From the London Sun, Dec. 11.) Immediately upon the refusal of the Duke of | Wellington, on Friday last, to carry out what he had agreed to do—namely, to peonone a 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- sell was recommended to be sent for, and a mes- senger was dispatched on Saturday last to com- mand his attendance at Osborne House. His arrival there was expected yesterday, and Sir Robert Peel 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 interview of an hour’s duration, after which Lord John Ruseell left town for Cowes. He 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 KF A Earl of Clarendon. Secretary for the Colonies. . . Vicount Palmerston. Secretary forthe hi a Marquis of Normanby. Mr. Bari pg. nis of Lansdowne. ir. Labouchere. Sheil. ment.... sees Chancellor of the Exchequer President of the C« Vice President First Lord of ‘1 of Minto. Lord. Lieutenant of Irela Earl Fortescue. First Commissioner of Woods and Forests.........--.Earl of Bessborough. Ambassador to Paris, Lord Beauvale. a to St. Petersburgh, Marquis of Clanri- je. The great ohjection to the correctness of this list is that one does not find in it the name either of Sur Robert Peel or of Mr. Cobden. [From the Liverpool Mercury, Dec. 12.) 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 [following listiwas, however, pretty generally credited last nightin political circles. had an audience of her Majesty, and has returned to town this evening, having had full powers given him te forma Government. He has sent for Lord Palmerston, and 18 taking, it is believed, all the ne- cessary steps to form an Administration. (From the London Globe, Dec. 11.) 3 Of the precise result of Lord John Ruseell’s visit to Osborne House, little or nothing has yet trans- pes, Various rumors are of course afloat; but nowing that upon those points,on which our read- ers are most desirous being informed, nothing = at present se) we refrain ag? givi m currency. one point, we can, however, ak with confidence. We have Teason to believe at, notwithstanding the manifest difficulties which a single assured him must inevitably beset his path, John Russell obeyed the summons of her Majesty with determination to allow no con- siderations of a merely party nature to interfere with or limit the tender of his services to her Ma- jesty and the country at the present juncture. What- ever obstacles are now interpoeed in the way of a fi- nal settlement of the corn law question must come from his opponents. If the House of Lords should, at the instigation of any portion of the late cabinet, place itselt in oj ition 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 ina 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 rT considera- a the personel tranquillity % the cosas conduce to urge the necessity of a spee ase from the state of uncertainty th which the Tate min- istry has left¥public affairs. It is evident that all cemeg wim ee ~ new ar- Tangements must, at it, together prema- ture. There has not been moment’s time to. com- municate with the former or probable parties to such pate paar The crisis at which Lord John Russell is called upon to act is of no ordinary nature ; and it V 28 be one fai thy hope <o entry the questi which His predecessor fairly hi over to him to ae he can wisely de- termine to act at all. industry and conimerce have not overpowered the mere watchwords of sham Conservatism in the breasts of all interested in eyed and commerce, as they have in the breast of the late Premier himselt—we had better tun the gauntlet through the line of Dukes, and make up our minds to a stimulating couree of curry- powder. That is our alternative to a Corn-| cal pealing government. it one that cor e itself to Conservative interests amongst the culti ig OF commercial middle classes It.deserves the attention of those middle classes that one d 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 wi fome chow ot right, and “ae Sonaar ate: hired feited implie es. They thought 1 him to keep things ‘a statu quo. He thonght 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 Londun Standard, Dec. 11.) _ We have nothing to communicate respecting the formation of the new Ministry. All we know is that Lord she — en Besthenn npton _ morning at o'clock, in ‘airy y! from Cowes, ‘and de arted for town by the eleven o’clock train. Her Minjeaty 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 hazarded Dee he the re- sult, aoe 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 tobe |. Foremost in this oaregery, stands the railway business, and more eepecially 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 ited, that the resignation of nt essentially necessary, which will very much com- plicate the tailway question by the Yely, Meet of the bankers that held the deposits have been hold- ing large st 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 revails on the subject respecting the time they will required, leaves them altogether at sea as to fu- more embarrassing as it occurs at ak. F year when accounts are generally nal mercantile interest, when accommod: be calculated upon tion they may jire shoul th ter mt. Thatbranch | without the rok of after derangethe: their views, First Lord of the Treasury—Lord John Russell. Lord Chancellor—Lord Cottenham. Secretary of State for Foreign Affairs—Lord Palmers- ton. peteong ( of State for the Home Department—Lord Moi \. Secretary of State for the Colonies—Lora Grey. Under Seo: for the}Colonies—Mr Charlies Buller. Chancellor of the Exchequer— Mr. Baring. Attorney General—Sir T. Wilde. Solicitor General—Mr. Dundas. Lord Lieutenant of Ireland—The Marquis ef Nor: manby. ing | “President of the Council—The Marquis of Landsdowne. Ambaseedor 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 Palmerston quickly arnve in London. office will be confided. rs eae Normanby, in all probability, takes the Home office. Lord Grey the Colonial office. vi Mr. Baring resumes the Chancellorship of the Ex- as been sent for, and will To him the Foreign chequer. Lord Morpeth may possibly go to Ireland (where his popularity qreukt euler ft as admirable Lord Lieutenant.) Lord Cottenham resumes the Chancellorship of ingland. Lord Campbell the Chancellor of Ireland. Sir Thomas Wilde and Mr. Jervis will be Attor- ney and Solicitor Generals. _ ord Minto takes the Admiralty. Sir John Hobhouse, Mr. Charles Buller, Mr. Hawes, Sir George Grey, and Mr. Tufnell, will form parts of the government. a Sir C. Napier and Admiral Dundas are to join the Admiralty 4 Such are the on dits of the asi It is understood that before Lord John Ruseell’s pee he addressed commuuications to several of his late colleagues, Ney het of whom, we believe, Mr. Baring, happened to be in London. We believe thut 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 id important parts, e ai istration, public ae Ps strongly to Mr. Cob- den and Mr. Villiers. No admimstration 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 te court po; ular opinion; and to the necessity which Sir Peel felt of doing #0 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, Dec. 12.) Tay 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 that suggested iteelf to people's minds, as the present House of Commons could hardly be expected to furnish. the Whigs with a working ma- jority ; but against this measure it is urged that the ‘most serious inconveniences to the public interest must necessarily follow on a dissolution. The lock- ing-up, for go many weeks, ot the capital deposited by projected railway companies, is mentioned asone point deserving of careful consideration; and ano- ther 18, that many railway bills, that were not finish- ed last session, must be brought forward de novo in the new parliament, instead of being taken up atthe in which they were left at the period of Com noth Avgu a This, - is Sane, oe not onl acruel infliction of expense on the compa- 4 ited, but a Poatrva Ineo of faith with torn ta if the Government and the House of the Gove: of Commons. Then there is the atate of our rela- tions with America. Imagine Parliament dissolv- ed when a hostile me from “ Excellency” Mr. Polk should arrive. Whence are to come the simews of war? In short, there is embarrassment on all hands. Let the new minister continue the Bete ean a amority let him dieolve and 3 im dis inés himself in a minority Noa rs kai hy Ker “Queen’s Government.” But, as his there is an equal probability carry on the i i Smith said, “ Lord John Ruseell will fesenuke and thin the command of the channel fleet, the building of St. Paul’s, or the operation for the stone.” It ia not to be wondered,at therefore, he feels no hesitation in facing the perils of his pre- aoe aati wich the way of the world to forget old friende, especially when they chance to have no Minds soca of te late Cabinet. This may ers . pds ty tg to the habit of St be owing, in some so) ober Peel, ony ke often of himself and seldom ot his colleagues ; but still he had colleagues, and men of “note and mark,” in many instances. heat we bp RET, may selely sey te bee > ‘ellington strent suc ‘ul ls, the the repeal of the corn laws. of The Duke of Buccleuch we are assured the same may be pre- dicted. Lord Stanley, we have reason to think, was firm in favor of protection to British industry ; in fact, we mi era: of the cabinet, for it was to a majority bert Peel euecombed in his vain attempt to free trade in corn. No endeavor is made to account for this extraordinary proposal on his part, though it > The conservative party is divided; | of the question is irrespective of the consideration | is rumored that he was seized with panic at the run Of | Sheridan Knowles’s play onto enumerate the majority | that Sir Ro- | establish made upon the stock of bonded corn for the 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 We ti ds of the late Cabi ill i Some friends of the late Cabinet are sti of its speedy restoration to of 1 cours ahaa become of him does not clearly appear. A correspodent, in- deed, Jast might informed us that “Sir Hobert Peel fore, inthe whig ranks, between those who have | its members, or any difference of sentiment upen | will be immediately created a Peer by the titles of Baron Trent, Viscount Drayton, and 1 of Tam- worth, and that im the House of Lords he will gi his independent support to that measure, of the cy of which he has failed to convince his colles, And here, for this occasion, closes our Bi ainisters 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 Batires oy tue Borovow or Taunton :— Came House, Dec. 5, 1845. Gentlemen—I understand that it is intended to invite Naefepoot Waste eeting of the inhabitants of Taun- tof the corn law, and as! am afraid that it will not be in my power to attend it, I ad- dross you for the purpose of conveying my opinions to = constituents. ‘or meny years, both in office and as an ndent ‘liament, | have wa the laws which the admission o| Neccign corn into this country. It appeared to me that crag y of the foamy eager 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 moat injurious to the community at large. If trade which is indispensable to the subsistence of people is ren- dered by legislation expensive, hazardous, and uncer- tain, it is clear that all this additional peril and vexation must on the long run, be paid for by the seers themselves. But we were assured that the scale \d at last been so skilfully constructed, that it could never exclude the adequate supply of foreign corn when it was really wanted. The circumstances of the present season furnish an additional proof of the futility ischief of all these contrivances to supersede the vision for eur wants which com- er own free action, can alone _ member of have regu! city is a supplies from our warehouses. But the operation of the averages has been such that bonded grain is excl rehended. Foreign from our markets by a prohibitory duty. In desiring the repeal.of the existing law, I wished that a moderate fixed oy should be substituted for it, as the system upon which, under all the circumstances, thought it e: lient 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 statesmen and parliaments when dealing with questions which affect the gravest interests and excite the nian est passions of multitudes. It was certainly recomm: ed by the writers whose names carry with them the reatest Weight of authority. | believe thet it was ‘adopted y most mercantile men, as uished from manufac- turers, who for the most part desired that all duty should at ones cease; and also by a very respectable minority among those connected with the landed interest itself. I thought I saw inall this the materials for a fair and stable compromise. But the progress of events has rapidly diminished, and at last extinguished, all chance of any such srrange- ment. It was Cokie gs 4 suposed, by the great body of the agriculturists and by the ministers of the Crown, om they had placed in office. Indeed the latter used in their power to discredit it, and to pre- nt any choice being offered to the 7 @ be- een a law like the present one and totel repeal, and their efferts have been attended with success. Now, gentlemen, as I believe this to be the actual con- ion of this question, my choice cannot bedoubtful. I no reason to regret the course which I have r have [ altered any opinion which J have orto: tertained ; but I am sure that it is now ™ duty to vote for the absolute of the corn law. 1 will add that the circumstances of the season are very favorable to such a change, which would confer great and rp d benefit upon the country Lrgporms Clrypans it could - ly ae the fear of present mi { among the agri- culturists. Gentlemen, I beg that you and all my constituents will have th yee a excuse this loog letter. It a f will probablyjsave you from the obligation of hearing longer speech, fw: , however, would,! know, have been receive: by. ou with your accustomed faithful se lam, gentlemen, your bias, raed The Rallway Bubbiec. [From the London Sun, Dec. 11.) The announcement of the Speaker’s intention io authorise payment of railway deposits to the Ag- fount Sealy! peal, has gg al- yed, as it have na 5 about the trenel fer of the whole ont soheek will have to be deposited by the a| for bills in the next session. We take for ted that the bank directors, and leading tabkers Of railwsy companies, who by concert may do much, will do their utmost to carry out benefic: this mode of payment by instalments. One in: ent paid into the bank will be available to aewist the bankers for payment of another instalment ; or the investment in government securities of sums id to the credit of the Accountant-General, will tend to prevent depreciation of these securities, out of which companies may have to sell, for the r of a further sum. While there is no doubt that the transfers by in- stalments will be a very great relief, it is still much to be regretted that the interviews between the bankers and the Chancellcr of the Exchequer have not yet resulted inan undertaking by the go ment to introduce, immediately on the meet of Parliament, and carry,without delay, through all its stages, a short bill to allow the Aecountant-General to receive government securities, as well as rope as in payment of the deposits. This would set 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 pase such « 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 bill, mtroduced by the government, could meet with no o| ion. 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 tors, whether dis- ~tesg| ws honest, but : sion e money. et. We hope that, it the govereme' int do not quick: mise to do what in them lies, the directors an Ponkers of leading railway companies will combine i} preag Frm to it. Ing matter of this Kind say = iti jay’s suspense is @ serious € e vernment make up its mind at once, and, without tay, declare it. ‘ In the mean time, we end as we began, by saying that the er’s authority for payment by instal- ments, will do much good, and has shenay e beneficially. And we 4} » reduce the sum to be deposi calculation of thirty millions is to a great extent imaginary. A short time will show. Tue Banx or Enctanp.—The movement of the Som of ee week ending on the 29th ti ives following changes, with the week ending on the. 22d mo :—In the de; t of issue the notes had decreased £302, a ee had been effected by the abstraction 1,950 of of iver alton, department the the rest had public deposits had increased or other deposits had seven day and othe: 015, making the total 508,300. On the securities remai curities hi diflerence of £322,668. The pal citoalation, toelading the ee nt ones against £22,023,154, being a de- crease of £176,115. ; There were att more. bile on Teaeey, _ tinen wns, but. we oad ne very li ht shades ‘of difference in the xchange. » months, 12 Bio: ‘aautrlan, <7 245; — 13 124 iy ~- $ i y ; Teatrern, 90 65 70; Madrid, 6 8583 Cadiz, 4; orn, Lisbon, 624¢ ; Oporto, 5244. Foreign Theat ¢ SAMA! Suenian Ksow.Rs—This attached pee alter delighting the Ghagew audiences for the last fortnight with her — able and varied performances, Ty pA farewel — on Saturday evening. e erences eats Maateyeee, We understand rflowit use. We unde! toe 10 erin proceed ed te Newcastle-upon-Tyne, to falfil a short e t in that town, prior te ap- pearing in London on the 29th instant. On oc- casion she will ter, a lady who stage, but who is new her appearance as Juliet. Inst two acts of “Gay this count! ° We should ‘ot omit to ittle incident which occurred before the whose great admiration for Miss Cushman’