POSTSCRIPT.
"Lord John Russell has tendered his resignation to her Majesty, and only holds office till another Government can be formed. The extensive loss of Parliamentary, confidence, or rather of Parliamentary sympathy, which his Lordship and his colleagues have evidently suffered of late, has probably pre- pared most of our readers for this result. In the face of so much resolute opposition from so many quarters, and with so much irresolute support—in the face of such divisions as those of yesterday week and last Thursday, Lord John Russell could not expect that the present Cabinet would safely ride through the many delicate questions pressing upon the attention of Par- liament. The Budget, it must be confessed, has satisfied no party ; and it seemed only too probable that any possible modification of it would purchase lukewarm thanks at the expense of strenuous objections. It is proverbially difficult to please everybody, even under the most favourable circumstances, and that difficulty becomes an impossibility when there is a predisposition not to be pleased.
"The interest of the public, which for an unusually long period has been attracted to questions of the past, will be immediately directed to the future. What sort of Government are we to have ? A new one altogether, or a re- construction ? So far as regards the political principles and the personal characters of the men, there is no reason why a Cabinet should not be formed with Lord John still for a leader, but with several new members, including two or three from Sir Robert Peel's Administration. Lord John could not have better colleagues than those who have proved such steady though disinterested allies. But, whether for good or ill, the Whig school is generally averse to coalition. It is too much of an oligarchy, almost too much of a family, to endure the introduction of new elements, especially when there is anything to be forgiven or forgot. The Whigs come in and go out together; and much as the public will undoubtedly lose by the sacri- fice of the whole Cabinet, we can scarcely hope to see any part of it in new combination.
" Besides what has hitherto been the Ministerial section of Parliament, the Protectionists are the moat numerous body professing a common creed. What may they expect out of the present crisis ? It is sufficient to say that they are still Protectionists, and to all political purposes might just as well be Frenchmen or rigid Mahometans. Suppose them summoned to her Ma- jesty's councils and compelled to dissolve Parliament, which they correctly -avow to bo their solitary chance—for they would not get a sixpence of the public money from the present House—what sort of account would they give of themselves to our popular constituencies ? They can only pledge them- selves to enhance the price of bread and all other food, and to throw away the legislation of the last five, or rather of the last nine—nay, of the last twenty years. We are not saying what the Protectionists might have done. Had they but followed their leaders—had they taken common sense, instead of passion, for their guide—they might now have been in a position to govern this coun- try. But they have wasted five years in one long fit of sullen indignation, and have now nothing to offer the public but their incessant maledictions on free trade and its authors. Their fate in a general election is too evi- dent. They would only meet Parliament to be beaten on the Address—to leave public affairs in the greatest confusion—perhaps to lose the year 1851 altogether for the purposes of legislation—perhaps to incur the necessity of another general election—perhaps to throw the Government ultimately into the hands of politicians with whom they feel much less sympathy than they do either for the friends of Lord John Russell or for the admirers of Sir Ro- bert Peel.
" Undoubtedly there exist abundant materials for the formation of an en- tirely new Government, bound to that commercial policy which Lord John Russell inherited from his predecessor. This is not the time either to revert to the errors of the retiring Cabinet, or to inquire very critically into the personal merits of this or that probable member of the new one. It is ra- ther the time to view things as a whole ; and we have little doubt that from the numerous independent statesmen of our day a Government could be lormed that would deserve, and generally receive, the cordial support of those who are for the present in power. Whatever is done, it is most desirable, above all, that there should be union, and therefore some degree of generosity and mutual forbearance, among the various sections that stand by free trade. The progress of sound legislation, the peace of the country, and the stability of our institutions, absolutely require that all should combine to prevent even a momentary success of the Protectionist imposture. For the sake of the country gentlemen, for the sake of the House of Lords, for the sake of that representative system which still gives considerable weight to the owners and occupiers of the soil, the question of free trade ought not to come again before the people of this country. It is too serious and too sore a point to be reopened, especially by the rough process of a general election. All wise men should combine to avert that peril ; and all wise men should therefore combine to give a fair chance—that, of course, is all that is asked—to what- ever body of Liberal statesmen her Majesty may summon to her councils."
The other journals, not being in the secret of the actual resignation of the Premier, speculate on the general crisis according to their lights and inclinations.
The Morning Chronicle rapidly pictures "the situation" by touching on all the club rumours and gossip afloat yesterday ; exclusively stating, that at a meeting of the Protectionist party yesterday afternoon, on the summons of Lord Stanley, the language of his Lordship was "studiously moderate" ; and that Mr. Herries, as the financier of the party, was in- trusted with an amendment on the budget, " to the effect that the results of the Income-tax had in nine years been accomplished" ; while "the House was at the same time to be invited to pledge itself to maintain pub- lic credit, and to commence the diminution of the Income-tax, with a view to its eventual and proximate abolition." The organ of the Conservative Free-traders adds, it was "well known that Mr. Hume and other ad- vanced Liberals, not unaccompanied by a sprinkling of moderate Wings, would support the Protectionist motion, either on its own merits or for the purpose of giving a warning to Government."
The Daily News accepts the postponement of the Budget, which Lord John Russell announced last night with a promise of reasons on Monday night, as a matter for "anxiety rather than surprise." It designates Sir Charles Wood as the Jonah whose presence in the Ministerial crew en- dangered the ship ; says "Lord John's better judgment discerned the true nature of the position, and pointed out the only safe and manly course that could furnish a way of extrication and escape,—namely, to place the seals of the Exchequer in other hands" ; but Sir Charles Wood refusing to be thrown to the waves, "all thoughts of going into action became impossible, and the only question now remaining is, can the ship by any means be partially remanned in the interval of the next two days, .or must it actually founder ?" The organ of the Manchester party points
without reluctance to Sir James Graham, as t anItilis wit ' VIAvi--cr whose "dissentient views on some points" might prove alterative to portions of the Cabinet policy ; and calls to mind "his sig- nificant phrase, ' We must close our ranks.' "
The Morning Post, unblessed for the nonce with a Ministerial confi- dence, proceeds with simple trust. The Morning Herald sees that from this day the Ministry is at an end ; and "reposes with perfect confidence on the conviction that no Ministry which mocks the Protestant [not the Protectionist] feeling of the country can govern it."
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