The Express.
London, England, 1863-02-05 00:00:00

HIGH WATILIt AT LONDON BRIDOL

Tine DAY L7ioriiiiii:l47" Uga.
roatozzow—Mondag. $L Sika......Usarsons. 66m.

LONDON, THURSDAY, FEBRUARY 5.

THE Session that opens to-day is regarded by the
nation at large with unusual apathy and indiffe-
rence. The present Government is exposed
to the just reproach of having thrown away
the most valuable opportunities of consolidating
the party which supports it in power. The
utter want of a really advancing domestic
policy has, in fact, become • source of chronic
weakness to the Government, which is only in part
counterbalanced by its popular and consistent
course of action in foreign affairs. The foreign
policy of the Government is in the main not only
justly entitled to high praise, hut thoroughly ap-
preciated both by the country and by the Liberal
members of the House. The Cabinet has well
maintained the high character of England abroad,
and carried consistently out, under very critical
and trying circumstances, • policy of even-handed
justice worthy of a great and free people. Both in
Italy and in America the Government has, against
no small amount of pressure, maintained the great
principle of non-intervention ; and in both cases the
result abundantly justifies the wisdom of this course.
Onr position is probably higher and our influence
greater in Europe at this moment than
at any period during the last forty
years. And if the great conflict in
America is settled without any attempt at inter-
vention on our part, our reputation will be far
higher and our influence infinitely greater over
that vast continent than it has ever yet been. In
these great and vital questions of foreign policy.
the Government completely represents the nation.
If it had the wisdom and courage to adopt in home
affairs • line of policy equally popular, enlightened,
and consistent, its tenure of office would be far
more secure and its prospects far more assured
than even its most sanguine friends can now con-
sider them to be.

With regard to the measures of real interest
that may be looked for in the coming Session,
almost the only ono that can be anticipated with
any confidence is a reduction of the existing bur-
den of taxation. A measure of this kind, always
popular, will, it need scarcely be said, be
peculiarly welcome at the present moment,
when large branches of our native in-
dustry are in so depressed a condition. But it
remains to be seen whether the Government will
be entitled to any special credit for the reduc-
tions that may be effected. It would be absolutely
necessary for any government in power at the
present moment to reduce the present burden
of taxation. Whether it could on this ground
prefer a just claim to popular support would
wholly depend on the way in which this reduction
was effected, and the extent to which it was
carried. The revenue is this year in
excess of the expenditure, and therefore the exist-
ing taxation might be slightly reduced without
any serious effort at retrenchment being made at
all. Such a course, so far from satisfying the coun-
try, would outrage its just expectation, and bitterly
disappoint its reasonable hopes. In order to
meet the requirements of the country the
present high level of expenditure must be seri-
°oily reduced, and a policy of sincere and
enlightened retrenchment heartily adopted.
If the financial measures of the Government be
based on the practical recognition of this neces-
sity, its position with the country will be greatly
strengthened. But if not ; if any attempt is
made to keep up the present extravagant expendi-
ture, it will be exposed to dangers and assaults on
every side. Having for the present abandoned
reform, its only chance of retaining a strong hold
on the support of the country will be found in a
course of resolute administrative economy.