POSTSCRIPT.

SATURDAY.

The House of Commons met at four o'clock yesterday and sat until long after midnight. It was, however, engaged, for the greater part of the time, on Committee of Supply, voting military and civil estimates. The principal incident of political importance occurred early in the evening. On the motion for going into Committee of Supply, Lord Joan RUSSELL called attention to parts of the extraordinary speech of the Chancellor of the Exchequer at Slough. Lord John, in a moderate manner, referred to four statements made by Mr. Disraeli. He said that when the present Government acceded to office the question of peace or war was one not of weeks and days, but of hours. Lord John could not believe this statement. He could not learn from any member of the Government, Lord Clarendon in particular, that when they were in office there was any apprehension of an imminentwar. There could only have been a misunderstanding about the Conspiracy Bill. If Mr. Disraeli meant that war was to be apprehended because we would not alter our laws, then Lord John could not rely so firmly on the pacific policy of the French Government as he was disposed to do. If peace hung on a thread why did the present Government disband the Militia ? Why did they support Mr. Gibson's motion which threw over the Conspiracy Bill ?

"It was rumoured that the then Ambassador of France complained that he had reason to expect that the gentlemen opposite would have supported the bill when they came into office,—that it would have been carried through both Houses, and that his expectations had been disappointed. I can conceive that there might have been a great deal of irritation existing if that were the case, not against this country but against the present Adminis- tration." The second statement was that to upset the Government war had been nearly precipitated between Sardinia and Naples. On that subject the House had shown great forbearance. It was perfectly competent for Mr. Kinglike to give notice of his motion, but when negotiations began the Rouse did not interfere. The third statement was that regarding Indian Policy. Mr. Disraeli said the question was, should we pursue a policy of extermination or one of discriminating amnesty ? Who ever proposed a policy of extermination? Mr. Disraeli had described a "terrific scene " in that House, for which he was indebted more to his imagination than to fact ; and had said that if a majority had censured the Government they would have had to defend their opinions on the hustings. Lord John held that a Minister, when defeated in that House, ought not to have recourse to what Burke called "a penal dissolution." Ministers represent the Crown, and they are Pound not lightly to attribute unjust and unpatriotic motives to the ma- PrItY• Lord john did not advise a dissolution in 1&52 ; and he regretted that Lord Palmerston advised a dissolution last year. The evil will not be remedied if Lord Derby says whenever he is thwarted in Parliament, that he will advise the Queen to dissolve Parliament, and if he uses that as a threat to coerce Members. The threat of dissolution had been commonly used in society and the clubs. Ministers have not yet gained the confidence of the House.

" There are various questions which have to be brought forward upon which the Government will have to produce measures and to defend their opinions. I do not wish to anticipate any of them—(" Oh, oh !")—but we shall have several of them in the course of the next fortnight or three weeks, and, if the Government succeed in gaining the majority of the House, those who agree with them will of course rejoice, while those who do not will have to bow to the decision. I am willing to accept that position, for I think it a constitutional position for a Minister of the Crown, but I do not think that any Government which does not obtain confidence, which does not establish itself in the opinion of this House, ought by threats of a dissolution, or by any such unworthy means of that kind, to endeavour to obtain strength at the expense of the independence of Members of this House." (Cheers.)

Mr. DISRAELI said there was not in his speech at Slough a

phrase or a single statement which authorized Lord John in making tie statement he had made, or justified the impression which he wished to convey. (Cries of " Oh, oh ! ") Mr. Disraeli had not attacked the House of Commons. On the contrary, he said they had baffled the in- trigues and machinations with which the Government had been assailed. Lord John was astounded as to his statement respecting our relations with France. He consulted Lord Clarendon. Why did he not consult Lord Palmerston ? Every one knows that our relations with France were in a critical and delicate state.

"Sir, the relations which existed between England and France three months ago are very much changed, I may say entirely changed ; and there *foists at this moment, as is shown by the accord which now prevails betWeen them in the management of great transactions, a closer approxima- tion to that entire good feeling which was prevalent a year ago, and for a long time prior to that date, and which at present forms a marked contrast to the tone and temper that pervaded the two countries when we acceded to office." (Cheers.)

Mr. Disraeli denied that in his reference to the relations between Naples and dinia, he had accused the House of Commons of trying to prempi- t r. Ie accused "arch-intriguers" and a "cabal," and he believed House would support the Government when they renew their attempts.

e denied that at Slough he had used the word " extermination " in refe- rence to India. He had said the Government was opposed to confiscation, and in favour of a discriminating amnesty. He denied that he had made any unconstitutional statement respecting a dissolution. No intimation was ever 'given that Ministers would advise a dissolution. But " what made people everywhere say ' This must end in a dissolution' ? Why, Sir, it was the conduct of certain individuals in this House, who so behaved to- wards her Majesty's Government that people began to see and to feel that there was no alternative but getting rid of the House." (Laughter.) When it a.s scan that a " Cabal" was organized, " it wanted no Minister to naita ee Parliament—it wanted not even the private intimations of people In athe. to influence votes. The fear of a dissolution, the announcement of a dissolution, came from the opposite benches—from the opposite party. (" Bear, hear ! ") It was the general opinion of the country, which felt that the Government of Lord Derby, encountering such opposition, ought not to and could not fall without appealing to the popular sense. That was the general feeling." In the subsequent discussion Mr. Man said that Mr. Disraeli had supported his unjustifiable statement respecting England and France by flimsy and irrelevant reasons. Sir GEORGE LEWIS reinforced Lord John Russell by a further reference to the passages in Mr. Disraeli's speech touching peace and war, Indian policy, and the Cabal. As to France and England, he said— "To say that there was any such misunderstanding between the Govern- ment of France and the Government of England as threatened this country with imminent war is, in my opinion, one of the greatest misrepresentations which any responsible Minister ever attempted to impose upon the credulity of this House and thepublic at large. (Cheers.) I deny it in the most positive manner, and I feel satisfied that the right honourable gentleman will find himself utter unable to produce any evidence in support of his as- sertion."

Mr. MILNER GIBSON defended his course in relation to the Conspiracy Bill, and defended the Government in its policy towards Sardinia. The Liberal party are in opposition, he said, because they have been badly led, and they cannot he restored to power unless they carry measures founded on their own principles. Mr. COLLIER attacked, and Mr. WILITE SIDE defended the Government. Lord JOHN RUSSELL explained that Mr. Disraeli did not use the word " extermination," but the words " un- mitigated vengeance" and "massacre."

Here the subject dropped. In Committee of Supply Mr. WISE moved that the vote of 27201. for the salary of the " sham " office of Lord Privy Seal should be struck out of the estimates. Negatived by 71 to 31.

Early in the evening Mr. Washington Wilks, proprietor, editor, publisher, and printer, of the Carlisle Examiner was examined at the bar, found guilty nem. con. of a breach of privilege in publishing a false and scanda- lous libel on Mr. Clive, and ordered into the custody of the Sergeant at Arms. Mr. Hudson Scott, formerly printer, appeared and was dis- charged.

The mails from India and China arrived this morning, bringing dates from Calcutta to the 22d, and from Hongkong to the 13th April. The Indian news contains but few facts of moment. Sir Colin Campbell was on the 19th en route to Futteyghur. Brigadier Walpole had attacked a fort in Oude, and had suffered considerable loss. The rebels fled from the fort in the night. Brigadier Jones, advancing from Rorkee, had beaten the rebels in a combat. No more news of the march of the Kotah men has arrived. The rebels were gathering at Calpee under the Ranee of Shansi. In the Indian journals there is a cry for reinforcements.

The news from China is of some interest Lord Elgin was at Shanghai. He received a deputation of merchants on the 29th March, and replied to an address from them. He said that his instructions originally gave hint a wide discretion. It had been since so widened, as to leave him to act in a great measure on his own judgment. He had never receded from his just and moderate demands on the Chinese. He was ready to repeat in the vicinity of Pekin the experiment made at Canton—if necessary. In this policy he could count upon the cooperation of the French, and the goodwill of the other powers. But when force and diplomacy had done their part the work would be only at its commencement. Christian civilization will have to win its way among a sceptical and ingenious people. He hoped the merchants would give him their aid to enable him to judge correctly of the causes that have given Shanghai its emi- nent position among the ports opened to trade in China. Lord Elgin and all the Ministers go to Teentein, there to negotiate with the Government of Pekin.

The act imposing a penny stamp on checks came into operation on Tues- day morning, the 25th, and not on Monday as was at first intended. In cases where money is paid across the counter to the drawer of a check him- self, such check being " to self," and not to order, no stamp will be requi- site, the cases contemplated in the various Stamp Acts being those only in which a third earty is concerned, and which are held to arise out of trans- actions of profit. Transfer tickets for Customs and other payments issued by bankers against stamped checks for the sake of security will also be exempt. The dividend of the Trust and Loan Company of Upper Canada for the past six months is to be at the rate of 7 per cent per annum.

The Great Southern of India Railway have notified that a guarantee of 5 per cent has been conceded by the India Company on their subscribed capital of 1,000,0001.

The annual report of the Oriental Gas Company shows that the business of the Company at Calcutta is making progress. 1 he city was first supplied with gas in July last ; the number of lights then supplied was 333, but now the total has increased to 1040.

• The commercial news from Calcutta by Monday's telegram appeared satis- factory, the demand for European manufactures having reduced the stocks in warehouse to a low point.

The Corn-market on Monday was slightly firmer, an advance of 18. being occasionally obtained.

• The Board of Trade Returns for April possess considerable interest. They still exhibit a falling-off as compared with the corresponding month of last year, but it is only 534,4111.—in the three preceding months of this year the average reduction was 1,772,4011. The return, therefore, shows some signs of a revival of trade. Owing to the Eastern demand, the shipments of cot- ton goods show an increase of 327,0671.; the largest reductions were in iron and steel, silks, and woollens. In the imports of raw materials, there is a reduction in all articles but cotton.