NEWS OF THE WEEK.
IT is announced semi-officially that Mr. Gladstone has resigned the Chancellorship of the Exchequer, and that he is succeeded in that office by Mr. Childers. The arrangement, long expected, is an excellent one. Mr. Gladstone will be relieved of part of his work and some of his responsibility, while Mr. Childers, besides being a competent Chancellor, is acceptable to Mr. Gladstone as his adlatus in finance. Mr. Childers has gone away, worn out by the Egyptian campaign ; but his strength is uninjured, and he will, in his new and comparatively light office, be able to commence that thorough overhaul of the financial system which Mr. Gladstone has long since declared to be necessary. He is not, probably, as original as his chief; but finance is his forte, and he has hitherto had no opportunity of displaying his full power. The world will miss Mr. Glad- stone's Budgets ; but the limit of possible improvement in taxation, and especially in small, unperceived taxation, like the reccipt-stanip, has not yet been reached.
