25 DECEMBER 1875, Page 1

In his speech to the working-men in the evening, Lord

Derby took occasion to make his first deliverance' on the Suez-Canal affair. He minimised it to the last degree. He was quite pre- pared to defend the purchase in Parliament, but he thought it "hardly necessary to disclaim" any notions of a protectorate over Egypt, a reversal of our policy on the Eastern question, or in- tention of taking part in a general scramble. We wanted and obtained additional security for that which is to us a necessity, free and uninterrupted passage through the Suez Canal,"—which, if we have only bought the shares, is just what we have not obtained. If we are mere shareholders, how can we stop the Khedive or M. de Lesseps from sinking a ship in the water-way? In a third speech, Lord Derby took occasion to protest his belief in the sincere desire of the Imperial Powers for peace, and to hint that he did not think the "guarantees " suggested by Austria would do. A committee of foreigners is not a good instrument for governing a State. Moreover, a Government in provinces like those of Turkey requires, above all things, to be impartial. To be impartial it must be strong, and to be strong it must have physical force. That is good criticism, but then what is the sug- gestion to be preferred ?