The Express.
London, England, 1853-01-04 00:00:00

COMMERCIAL INTELLIGENCE.

Business at New York and other marts of commerce is
reported bribk. Money was in active demand, plentiful,
and easily obtained for legitimate purposes. The market
fur American securities had been active, and large invest-
ments made both in government and state stocks at very
firm prices.
United States Sixes, 1867
United States Sixes, 1856 lOBl to
It is stated that the specie now held by the New York
banks amounts to ten million dollars.

In Exchange a fair business had been done for the
Niagara, the quotations being on
England
Paris 5.13 to 1
Hamburg 3Bl to 37
Bremen
Amsterdam 4ll to 1
The Cotton market at New York was quiet, and business
to a moderate extent only had been done. Prices, however,
were quite steady at the following quotations:
New Orleans and Mobile, middling fair to fair 101 to 10i
Upland, middling fair to fair 9 to 9
The market for breadstuffs had been less active, owing
to shipowners having demanded higher freights. A pretty
fair business had, however, been done in wheat for home
consumption and for export. Flour, Indian corn, and meal
bad also changed bands to some extent; the quotations
beitsg—
Western Canal flour, 5 dole. 26e. to 6 dole. 371 c.
Geneuee prime wheat, 1 dol. 24c. to 1 dol. 26c.
Indian corn, round yellow, 68c. to 70c.'
Indian meal, 3 dole. 871 c. to 4 dole.
In provisions a fair business wan going forward, with
prices firm ; and the mareets generey had a healthy
aspect.
Iron is in good demand, and at very Arm prices.
In freights shipowners were asking increased rates ; at
which a good business was doing. The rates were :

TO LIYZAPOOL.
Flour 4a. to 41. 3d.
Grain
Cotton

gbe Court.

WINDSOR, JAN. 3.

Prince Albert, accompanied by the Prince of
Leiaingen, went out shooting this morning, attended by
Col. the Hon. C. B. Phipps, Major-Gen. B. Drummond,
and Lieut.-Col. F. H. Seymour.
Lord Charles Fitzroy has succeeded Colonel the Hon.
Charles Grey as Equerry in Waiting to the Queen.
The Right Hon. E. Stroh, Chancellor of the Duchy of
Lancaster, had an audience of her Majesty to-day, and
kissed hands on receiving the seal of office. Mr. Danvers,
Clerk of the Council to the Duchy, was also present.
The Duke of Wellington had an audience of the Queen
to deliver up the Garter worn by the late Duke.
The Earl of Mulgrave had an audience of the Queen, and
kissed bands on receiving the wand of office of Comptroller
of the Household. _

The Bari of Beseborough had an audience of the Queen
on Thursday last, and kissed hands on being appointed
Master of the Buckhounds.

The Queen and Prince drove out in an open carriage this
afternoon. Lord Charles Fitzroy was in attendance on
horseback.

iieSllsjesty will hold a Privy Connell this day (Tuesday)
at Windsor Castle. Summonses were issued yesterday to
the ministers and °Seen of state.

Sir George Hayter had the honour of submitting his
picture of the late Duke of Wellington visiting the Effigy
and Relics of Napoleon, to the Clasen an I Prince Albert oss
Saturday.
Sir Thomas Redington bad an interview with the Earl
of Aberdeen yesterday, at his official residence in Down-
ing-street.
The Commissioners [for the Reduction of the National
Debt held a quarterly meeting on Saturday at the official
residence of the Chancellor of the Exchequer in Downing-
street. There were present the Chancellor of the Ex-
chequer, the Governor of the Bank of England, and the
Deputy• Governor. Sir Alexander Spearman, Secretary
and Comptoller-General to the Commissioners, attended.
The lion. Francis Lawley is the Chancellor of the Ex-
chequer's official Private Secretary.
The Right Hon. E. Strait arrived In town yesterday from
his residence, Kingston Hall, near Derby.

OXFORD

ELECTION.

Mr. Gladstone's friends are informed that though
Lord Chandos' name hu been unscrupulously used by the
opponents of Mr. Gladstone without the sanction, and
against the positive disclaimer of Lord Chaados, neverthe-
less it is the intention of the sure parties to put forward
another candidate against Mr. Gladstone, and to keep the
poll open. Mr. Gladstone's friends are therefore earnestly
requested to come up to the University and tender thus
votes without delay.
Poltiog begins to-day at 1 O'clock.

PRINCE ALBERT'S FARMING.—WS learn from
' correspondent that her Majesty and Prince Albert ponces
several farms in the Isle of Wight, two of which, containing
about six hundred acres, the Prince farms himself. Every
recent improvement has been introduced on these farms,
and steam engines are now performing on them various
agricultural operations. His Royal Highness is • thrift
and successful farmer, and the results of his skill and
superintendence may be regularly seen at the neighbour
ing markets. The Prince is partial to the rearing and
fattening of the Scotch black cattle.

MUSEUM OF ORNAMENTAL ART AT MARL-
8011011011 Honen.—The numbers attending, &c., during
the month of December, were as follows :-13,811 persons
on the public days, aniadmitted free (the numbers in the
Christmas week being 11,119); 711 persons on the stu-
dents' days, and admitted as student, on the payment of
6d. 'sell. _ _

STEME To AUSTRALIA.—The Harbinger next
month wal commence the General Screw Company's line
to the antipodes, to be followed up by other vessels of
heavy tonne and good power. Those already named are
the Orem., Imo, and Golden Fleece.

THE ELECTIONS.

THE CITY OF LONDON ELECTION.
RETURN OF LORD JOHN RUSSELL.

We announced yesterday the re-election of Lord
John Russell, by a show of hands, unanimous, with one
exception. The result having been declared,
Lard J. Russzu. came forward, and was received with
abeam Ile said—Gentlemen, I have now to return you my
- - " • which

most cordial thanks for the proof of your confidence
you have just given me ; but before I speak to you in the
character which I have again assumed of a minister of the
Crown, you must allow me to say a few words as to my
conduct as a member of that body which was opposed to the
late government. I ask your attention upon this subject,
because I have been accused with others of faction and coin-
blustion ; wh , in fact, there never was so forbearing an
',position in the history of this country. (Cheers.) When
, I felt myself unable to secure that amount of cuntidence
ai sm the Rouse of Commons which, in my opinion, was sc-
rawny fee the due administration of public affairs, I thought
N right that those who formed a very strong body in the
Molise of Commons, a body next in strength to that which
had carried on the ministry, should hold the reins
se power. I thought that that was advisable, because
fix years they had addressed to a great
pertion, a great and most respectable portion of the country,
es, in fact, all who are engaged in agriculture and ship-
ping, or who are connected with our colonial interests,
barangues the moat inflammatory—telling them that they
bad been injured—that a majority in parliament bed dune
them wrong—that it was the duty of parliament to redress
that wrong, mid to place them again in that state of pros-
perity which the had formerly enjoyed. (Hear, hear.) I
Sought it wu right that those who had used these topics,
and who had addressed these exhortations should have an
rtunity of bringing to the test their mighty promises.
, been.) Now, let me tell you that there never was an
E
lice of men who had held out such hopes, or who had
shadowed forth such great measures of redress who did not
et
once upon their accession to office take one of two
Nurses; who did not either propose to the House of Com-
mons the measures they thought were necessary for the
welfare of the country, or who did not advise the crown to
dissolve parliament, and appeal to the people to return
Members who should better represent their wishes
and their interests. (Cheers.) But the adniinistra-
dm of my Lord Derby took neither the one course
nor the other. Declaring that the country was going to
rain, and declaring that the measures introduced by Sir
R.Peel, and by the administration of which I had the honour
eif being the head, were daily reducing men of industry to
poverty. and that parliament could redress these evils, they
yet proposed to postpone for a period of nearly a year the
oessideration of the a,ceosures which they intended to bring
forward. (Cheers.) Gentlemen, I thought then that their
oenduct wu so unusual, and I may say, was so unconstitu-
tional, that I did not hesitate to state to my friends whom
I assembled in my own house, that they ought to bring the
Ministry to a declaration one way or the other,—either to
produce their measures before the existing House of Com-
mons, or to call another. (Hear.) We were generally
agreed as to that course, but we were so forbearing, that
when a minister of the crown declared that they wished
only to pass measures which they thought might be carried
for the utility of the country, and which were then before
parliament, and promised that they would meet the new
parliament before the close of the autumn, we acquiesced
in that course, unusual as it was, and waited our time for
the production of the measure's they had to propose. Now,
observe that when Sir Robert Peel took the government in
1834 he at once assembled parliament and produced his
measures; and when Lord Melbourne proposed his mea-
sures with regard to corn, sugar, and timber, in 1841, and
dissolved parliament upon them, he at once called the new
parliament together ; but the late ministers, acting, as I
think, without due dference to the country, and not think-
ing bow important it was to the commerce and manufac-
tares of the country that their measures should be decided
upon at onee, waited for a period of nearly ten months be-
fore they assembled parliament. (Cheers.) Now, I ask
you whether our course in submitting to that delay was not
one of forbearance ? (Cheers.) At length parliament mat,
and then we looked anxiously for a plain declaration upon
this question,—were those who had declared themselves
protectionists, protectionists still ; or, having latterly
seen the error of their ways, were they prepared
to embrace the doctrines and practice of tree trade ?
(Heir, hear.) Neither one thing nor the other. (Cheers.)
An obscure paragraph in the Queen's Speech left us
totally in doubt what were their intentions—what their
doctrnes. (Hear, hear.) Indeed they did not hesitate to
say that expecting an amendment on the one side from the
free-traders, and from the protectionists on the other, they
had so worded the passage as to suit either party. (Cheers
and laughter.) Under these circumstances, it was but dee
to the country that we should endeavour to obtain a solu-
tion of the question. We thought that a matter upon
which we had for six years been disputing should at length
be settled on a plain and intelligible footing. (Hear, hear.)
Mr. Charles Villiers, whom I em happy to see now in
of lee—(loud cheers)—drew up a resolution, which was a
plain, manly, and explicit declaration—(cheers)—and I
supported him on that account; but those with whom I
now act, and with whom lam charged with combining,
objected to it, not because they considered it untrue or is-
applicable to the circumstances, but they thought it might
have hurt the feelings of the ministers, and therefore they
could not agree to the resolutioa. ("Hear, hear," and
laughter.) That, I should think, is enough to show that
we were willing to give the ministers every possible chum
of adopting free trade in earnest, and of proposing good
measures to the country. (Hear, hear.) But we wen
defeated—fortunately defeated. (Hear, hear.) I say
fortunately defeated, because it gave an opportunity
to the ministry to produce their great mea-
sure, this wonderful medicine which MO to cure every
thing. this plan which was to suit everybody and displease
nobody. (Laughter.) It came forth, but a plan so little
answering to that description cannot well be conceived;
because while the satisfaction it gave was very small, wham
the farmers, for whose benefit a great part of it was in-,
tended, expressed a very doubtful, grumbling sort of
omen; the householders of the great towns, who were it
to have been sacrificed for their sake—(cheers)—
expressed their displeasure in ne equivocal, no ambiguous
terms. (Cheers.) But, gentlemen, what was the origin of
this budget, and what were its defects ? In the first place,
the ministers bad formerly said that they were friends to
protection. That they found did not meet with the assent
of the country, and it was given up. In the next place,
they said they were for taking off the local burdens which
premed unfairly on the agriculture of the country. That
idea was also found to be unsuccessful, and that, too, was
given up. But there was a third thing, and as they had
abandoned the two former, they felt that in that they must
persevere. This last was called a revision of taxation.
Now, gentlemen, I declared here upon this hastier, when
I last addressed you at m election, that I should be
prepared to vote for such a diminution in the public bur-
dens and such a revision of taxation as should render them
fair and equal to all classes of the community. (Cheers.)
It was obvious, however, that the proposal of the late go-
vernment was not fair and equal to all claws of the coun-
try. (Cheers.) It was obvious that it was the intention,
though it was not successful, to please and satisfy one class
at the expense of the other clauses. (Loud cheers.) I be-
lieved, likewise, that it was unwise in the view of all states-
men to attempt a measure of that kind which would sacri-
fice a large revenue, easily gathered and collected, and
whit* did not create any amount of discontent, in order to
put on a new tax which could not but be felt to he grievous
and burdensome. (Loud cheers.) It is our misfortune to
have to pay a large amount of taxation which is the conse-
quence of wan that were carried on by our forefathers—
(cheers)—for, if we had merely to pay for the military and
civil government of the country, one-fourth, or perhaps
oce-fifth of our present taxation would suffice. (Cheers.)
We have, however, incurred debts owing to those wars, and
those debts must be religiously respected. (Cheers.) But
when that is the case, nothing can be more unwire, than to
give up Uses to which the country has been accustomed,
and the regulations for collecting which have been made
easy by long experience and consideration, in order to retest
to other taxes which must obviously create great dissatis-
faction. (Cheers.) For these reasons, therefore, this budget
was a most unwise measure. (Cheers.) It was s measure
perhaps necessary for the late ministry to propose
—(laughter and cheers)—because it appears that they had
excited disceatent to a great extent, and they had already
given up two of their three great nostrums. (Cheers.) They
were obliged thus to bring forward some measure, and
under that necessity they brought forward a measure which
was, perhaps, justifiable in them to propose, but which, for
the country, was sure to have been disastrous. (Cheers.)
I therefore opposed that measure in its first shape—in the
shape of the house tax. (Hear, hear.) Now, though Ido
not see any objection to a house tax, moderate in its amount
and generally extended, I did not see any necessity for
doubling the existing house tax or for interfering with it
at all at the present time. (Hear, hear.) Well, others aiso
objected to it ; and because different parties in the How
of Commons objected at the same time and concurred la
the same vote we are accused by the late prime minister of
being a factious combination. (Cheers.) Why, what could
gentlemen having all objections of a similar kind to the
measure proposed do other than concur ? (Cheers.)
If an omnibus with its twelve passengers in-
side were seen going down Ludgate-hill at a fu-
rious pace, breaking into shop windows, and doing
injury to all the passers-by, surely the men going east
and the men going west would all concur in stopping that
omnibus, and tell the coachman to get off his box. (Loud
laughter.) But how great would he the surprise of all the
passengersalt:,
en, n
id,
Teo h
nhf
,it
ss,r7
iml policemenonefactiousw a ya t
and t their
combination.
head
med i f h
ea a
n ottlh.
oee
ur , wereacoachmannd7a el
yet
gwoeirneg toots°
you have combined to prevent me from having the privi-
lege of driving my omnibus into the shops both on one side
of the street and on the other." (Loud cheers and laugh-
' ter.) Such, however, was the charge against us ; a charge
at which, I think you will lay, we need not be very much
thperodresuigeenda,tiaos.
asoerned. (Cheers.) But 1 must now come to more
lofmthusetratye
hymucco scoisuenaol
ydnow theyof hadhtfahootnrandnitsehti
fho.should
ooadohwdunbduti
callednna in concurred r
a tt
ii
unhop
oemi it
nt
that
aba tyd
supporti
might
theirtoi
gchoo ;if
sore-
Nigh,
etrivtlct
eer.
n
ryb:enWeaelli,londowu,pogenntbleymmen;
sovereign to form an administration, and I had attempted
I* form that administration, as my former one had been, of
GOO party only, I should not have bees doing my duty to
my sovereign. (Cheers.) Never will lin any way shrink
from the defence of the men and of the measures of the
administration over which I had the honour to preside;
but it is one thing to break up an administration and
another to form a new administration, which can calculate
ibitii:iiiiiiisii:ll:llhowenistbalico:ttieeotainr:fmafai,:ciityrirotneltre2 it should That
produce, having

upon that support in the House of Commons which wi t
give satisfaction to the country, and which will appear to
foreign states as a firm and strong administration. (Cheers.)
Well, then, this opinion of mine, I must say, I have net
concealed. I told it to many of my friends, and they sp.
peered to be generally of the same opinion. (Hear. hear.)
Well, then, was it my duty to declare that I would as
agree to form a part of a combined administration unless I
should be at the head of it? I thiuk if 1 had I should
have been taking an undue estimate of my own iini,artance;
and there were circumetaccel which induced us to think
that the Earl of Aberdeen, n man universally respected, a
man who had stood by Sir B. Peel, a ho had held an important
office under the crown, and who hail been before scat for
by the Sovereign, was the proper head to preside ova
such a government. (Cheers.) I shculd have been bettat
pleased not to have entered office again, but to have giyen
my constant support, as an independent member a am,
House of Commons, to the new government, and the Ltd
of Aberdeen was not unaware of my wish ; but both he qt
one aide, and my political friends on the other, deelsreg
that it was necessary to the formation of the ministry that
I should take office. (Cheers.) (laving received these da.
clarations, I thought it was my bounden duty, anxious as/
was to see the country in possession of an administraticet
which should have the confidence of the House of Can,.
mons, to anent to the proposal of my Lord Aberdem
(Cheers.) There was, iudecd, one other course open to ess
and that was to have declined to form an administraticss
and to have advised her Majesty to send for Lord Derby
again ; but there was no prospect, if he had done so, that
the noble lord would hove been able to secure any more %
the confidence of the House of Commons than he hud does
before. (Loud cheers.) Besides, lie had just disseleag
parliament and appealed to the sense of cone.
try ; and it was that very House of Continent' which
he had summoned in the name of the S.tvereign
which had declared against him. (Cheers.) For the tea.
sons. then, I have explained I agreed to join the kreseet
administration; and von may be assured that, without re.
eeiving any pledges, I had just taken means to ascertain
that upon those subjects in which I have ever taker. a sleep
interest, as affecting the welfare of the country, the noble
earl who Was to he at its head was a sharer in my opinions.
(Cheers.) I found that a year ago he had declared with
respect to one question in which I know you take a deep
interest, namely, the removal of the Jewish disabilities.
that if the question came before the (louse of Lords again a
measure for their removal would receive his support.
(Loud cheers.) Gentlemen, with regard to another qua.
tion which has been mentioned, namely, the department of
the Customs, I am well aware that there are many of the
regulations of the Board of Customs—(A voice: ''The
whole of them ")—that require revision—(cheers)—but the
present Chancellor of the Exchequer will examine that
subject with the ability which forum so engin_
guished a part of his character, and will endeavour to
place those regulations on a footing the most favourable to
the trade of this country, while he will take care, as it will
be his duty to do, that the revenue is not sacrificed. (Load
cheers.) Gentlemen, there are many other questions 0%
which I will not detain you —(A voice: " The
income tax ") but as a gentleman there by

referred- to the income tax, upon that subject I
must make a declaration similar to that which I have just
made. You are aware that Mr. Pitt, when he thought an
income-tax neeeuary, laid down the principles upon ski&
it should be founded. You are aware, likewise, that Lord
Lansdowne, when he was Chancellor of the Exchequer, end
Sir Robert Peel, when he was First Lord of the I reasury,
adopted the same principles. But, gentlemen, there has
of late been much discussion upon a subject connected with
that tax, namely, the rates at which the different kinds of
income should be assessed. (Cheers.) N.IW that is a ques-
tion which the late ministry undertook to settle, but which
they evidently undertook without having luny ex :mined.
(Cheers.) Nidaen they were ask, d whether in caring one
injustice they did not create many other ins'ana: s of in-
justice, the answer of the Chancellor of the Exchequer wee
that he had not had time to examine the maw :lulu.
(Laughter.) Now our Chancellor of the Exchequer. my
colleague, means to make time for the purpose of examining
those schedules. (Loud cheers.) Ile will devote all hie
time and attention, in conjunction with others, to them,
before he brings forward his income-tax measure, in order
to see in what manner the tax can be amended, and it
what manner the measure thus amended can be advocated.
(Hear, hear.) Now I have always said that in-
justice was inherent in an income-tax ; and
am so thoroughly confirmed in that opinion that
I do not believe it would he pos-ible fur any
man, or any set of' men, any more than it was for Mr. Pitt
or Sir Robert Peel, entirely to expunge injustice from the
measure ; but everything that can be done by way of ex-
amining the different cases will be done—(cheers)—and I
do think it is possible, although not to attain a just mea-
, eure, at least to make a greater approximation to justice
than the measure now in force. (Laud cheers.) But let
me say this finally, that if we find upor. examination that
we are not successful in that endeavour, we will come
down to the House of Commons and expose all our argu-
ments and our reasons upon the subject ; and we shall then
ask the House of Commons f.irly to judge whether we
have not grappled with the impost with a view to make it
as just as it is possible to make that large portion of our
revenue. (Loud cheers.) At the same time do 'lot let us
forget that that income tax, faulty as I think it originally
was, and faulty as it must always be, has been the means of
relieving the country of twelve millions of taxes bearing
heavily on industry. (Cheers.) M opinion is, if borne
with for some years longer, still greater relief can be ob-
tained from it ; and that in annual revision, and not in
sudden revision, is to be found the true financial
policy of this country. (Loud cheers ; and a Voice
"The ballot.") Well, some gentleman says "the
ballet," and I must beg to call to your
recollection that when I was on this hustings last year a
gentleman put to me several questions, and, amongst
others, whether I was in favour of the ballot ? I declared
to him then, as I declare to that gentleman who has ad-
dressed me now, that I was against secrecy in everything—
(loud cheers)—that is, that as I was against secrecy in our
courts of justice—(cheers)—and against secret debates in
our houses of parliament, PO I was against recreey in voting
by our great electoral body. (Loud cheers.) Let me say
this, however, that since you last met here, the elections
which have taken place in the country have produced gross
instaisees--(cheers)—of bribery and intimidation ; and I
shall think it my duty, not adopting the ballot, but object-
ing, as I shall continue to do, to any secret mode of voting,
to turn my mind to those other means which I think may
' perhaps be devised in order, if not to extirpate, at all
events to diminish, those scandalous scenes of bribery and
corruption we have of late unfortunately witnessed. (Load
cheers.) Now, I will not refer to those various
questions to which Mr. Dillon has adverted. Let me say
that those reforms in education, parliamentary representa-
tion, and the rest, are all most important questions; but
that a ministry which has any claims to your confidence
may claim your forbearance as to the time and the manner
in which their measures of reform shall be brought forward.
(Hear, bear.) I remember a friend of mine, speaking of
the critics of the Reviews, once said that they always
blame an author for not doing that which he does not
attempt. If he writes serious arguments, they complain
that he isnot lively; and if his book is full of wit, they say
that the author has no logical arguments. (Laughter.)
So it is with the critics of reform. Should they see
attempted great reforms of chancery and the courts of law,
it is immediately said, " Why don't you reform the abuses
of the church ?" (Great cheering.) We are treating per-
haps the abuses of the church, and it is immediately. said,
" Why don't you look to the faults and corruptions in our
representation ? " (Hear, hear.) Now, what I ask, and
what I think I may fairly ask, is that provided
good measures are produced, parliament will pay at-
tention to those measures; and if advantage is to be ob-
tained by passing them they will pass them. (Hear, hear.)
If not, let them reject them, but do not let them always
say, when good measures are proposed, that something else
must be considered, or that that which is not brought forward
L the very thing that happens to be essential. (Cheers.)
Now, having addressed these words to you, I must add,
with respect to the department over which I have the
honour at present to preside, that I am happy to say the
terms upon which we are at present living with all foreign
nations are those of peace and amity. (Cheers.) Of course
I do not intend, as not in my department, to nay anything
of the war which may be carrying on in India—(hear,
bear)—but with respect to foreign nations generally,
our relations are those of peace and amity. (Renewed
, cheers.) With respect to another question which, of course,
comes under the notice of the Secretary of State for the
Foreign Department, I think I am entitled to say this,
that when any English subjects, joining in no conspiracy,
and making no attempt against the internal peace of any
foreign country, are injured unlawfully and wantonly,
will lose no time in bringing their cases before the govern-
ment of that foreign state. (Cheers.) I must say that
there is no one of those governments which is not disposed
to do justice to British subjects; but I cannot hi 1p per-
ceiving that the subordinates of those governments arc often
entrusted with too great powers to harrass and
vex unoffendiog travellers who are pursuing their
peaceful journey through those countries. (Loud cheers.)
Gentlemen, I thank you again for the confidence which yon
have reposed in me. My belief is that the administration
which I have pined will be able to carry on the public
affairs with public advantage. (Cheers.) lam quite sure
that that system of free trade, of which you have ever been
strenuous advocates, is a system which is likely to lead SO
further and increased prosperity. (Cheers.) I inhere also
that that system of domestic policy which we pursue—
founded, as it is, on the principles of civil and religious
liberty—is the true system upon which the policy of any
ministry ought to be based ; and in seeking nothing from
any foreign nations that they can with justice refuse, but
seeking only fairness and good will from all foreign states,
I believe likewise that our system of foreign policy is that
which will be conducive to the independence of this country
and the happiness of the world. (Loin and long continued
cheering.)
Lord JOHN Resume then moved a vote of thanks to the
Sheriffs, which was carried ; and Mr. Harker then dismissed
the assembly.

TIVERTON.
RETURN OF LORD FALNIERSTON.

MONDAY, JAN. 3.

The election for this borough took place to-day.
Lord Palmerston arrived here at ten o'clock last night.
His lordship was net at the railway station by several of
his warm supporters and friends, who accompanied him to
the Three Tune Hotel, where he remained the night. The
noble lord appeared to be still suffering from the effects of
his late severe illness.

The nomination took place in the Town-halt—Mr. F.
Hall proposed the re-election of Lord Palmerston;
Vere, Heti , seconded the nomination.
The MAYOR inquired if there wit< any u:he7 eand:date t

eed • and no answer being returned, he declared
Psimereton duly elected, amidst loud cheer..
It lit, then resolved to adjourn to the Mayoralty ROOM.
windows of which the noble lord add 41 a large
uscirv— the
ese of people, which could not otherwise hare heard
L„rdkno-
I'AVIEHSTON came forward to the window, and
la, received
with loud cheers. Having requested permis-
p
.L the store at recent indisposition, to condense his
s'obe,,.T:epuons within as small • compass as possible, he maid—
gentlemen, in the first plate, I beg to return you my
P:wet'ierdial and heartfelt thanks for the great honour
we h you have done me in again confiding to me your inte-
rs,:. In the !louse of Commons, and returning me into the
your representatives in paths-
distinguished Pot of ono of
04 t. You have added thereby, gentlemen, another tie to
3.
the any bonds of gratitude which bind me to the elector,
4T.: nape, and I can assure you that my sense of the übli.
enae will never terminate but with my existence itself.
Coe- circumdances which have now brought me before you
well known to you to require that I should go
(acs them in detail. The late government, being defeated
iieen a question connected with the budget, thought it their
,ity to result their office, and her Majesty confided to two
aistiaguithed noOletuen—the Earl of. Aberdeen and the
meniao ot Lansdowne—the task of *endelevourir.g to re-
°wave,' an administration. Being applied to to join that
admnistration, a n d findig that it was likely to be cosi-
-0I per-on. entitled, i nn
my opinion, to the confidence
of the venue, I felt that I could not refuse my humble
s. •
rsie, 4, Sleet • e y were thoueht desirable. I accepted, in
roue iuence, that office which I was moat desirous to till,
that. sanel, of Secretary of State for the Home Depart-
vacated my scat, it became my duty
c..nt, and hawing
t, present espeagain to your choice. Now, gentlemen,
I would wish to say a word or two with
regal to the late administration. I was not
their supporter; I was not their opponent. I was
an impartial observe; of their course, and, therefore, I
only speak of them with strict judice, with fairness, and
without preposseesion, either fur or against them. It must
elmitted, gentlemen, that that administration, during
the soet peeled that it held office, did several very good
ware. (Hear. heir.) I supported them when I thought
then right—l opposed them when L thought them wrong.
(lieu, hear.) But they did those main things which I
conceive to be good—they took, in the fint place, energetic
sad useful measures for improvise the defences of the
toiletry, by land and by sea; they adopted boldly, and
carol out with firmness, measures of Chancery reform
hail been matured by a commission of able
men who had had that subject for some time
under censideratien ; and, gentlemen, the late go-
o roment proved an example of the correctness
of an opinion which I ventured to give in the year 1816,
in • speech w hieh 1 made in the House of Commons, and
of which I was reminded the other day in debate by Sir
lase. Graham. I own it had escaped my own recollection,
bet he reminded me that I had said that there were eta tin
does... for which Certain climates were an absolute specific
remedy—that the yellow fever, for instaace, could not exist
in Eneland; and that that malignant fever which was
called prdection, though it might be ip its worst and most
virulent form, could not secure six months: occupation of
Downing-street and the Treasury Bench. The meaning of
that was, that the most violent and sincere
protectionists, once brought into office, sad en-
abled to see the real working of the doctrine
of free trade, would, in spite of their prejudices, soon be
euviseed of their former error, and would frankly and
Wily adopt the sounder and the better opinion of the free-
dom of commercial intercourse. Well, gentlemen, so it
turned out in regard to the late government. They could
sot reset the conviction which facts and figures brought to
their minds. After a certain period of administrative expe-
ranee, they frankly 'vowed that protection was im-
possible, and that it was absolutely necessary to adopt as
the permanent foundation of our commercial system the
principles of free trade. (Hear.) Well, gentlemen, that de-
eleven& was honourable to the men who made it. The gees-
non came on for discussion on the meeting of the preseat par-
liament, the late parliament having been dissolved for the
avowed purpose of making an appeal to the country, to
iw whether it was the opinionnf the electors of the
Vaited Kingdom that protection should be re-estab-
lished, or that free trade should become • permanent sys-
tem. When parliament met, there was, I thought, •
&Ueda going to be c =mated. Resolutions were oroposed
which were so worded that it was impossible for men,
who bed at any time entertained, sincerely axed conscien-
tiously, the opinion that protection was right, to vote for
these resolutions. And the Rouse of Commons was about
to be placed in what I thought a disadvantageous pool-
non, in that, instead of fairly testing the opinion of the house
upon the question of Ire trade or protection, as our future
system, a division was about to be taken, opposition on one
side, ministcrialists on the other. The result would have bees
tut there would have bean a small majority on the one side
or the other. If the free-trade resolutions had been
adopted by 10 or 20 majority, it would have goes forth,
that which was not true, that there was only that small ma-
jority in favour of the tuture adoption of the principle of
free trade. If, on the other hand, the majority had been
the other way, a still more false impression would have
gone forth, that there was a majority of the House of
Commons, however small, against free trade, and in favour
of protection. I therefore felt it my duty, standing in a
perfectly independent position, to propose to the house a
resolution free from the objection to which the other was
liable, but affirming, if possible, in stronger end more dis-
tinct words, the future adoption of the doctrine of free
trade. The House of Commons accepted that resolution,
and we had the satisfaction of having, not a majority of
lu, or 20, or 30, but a majority, I believe, unex-
ampled on any former occasion—a majority of
468 akiimt 53, being an absolute majority of 416.
'Well, 1 akin, gentlemen, that I humbly did good service
to the House of Common. and to the country in being in-
strumental in bringing about so satisfactory • result.
(Three cheers were here called for, and given right heartily.)
Then, gentlemen, came the budget. (Hear.) Now I am
boned in fairness to say, that, taking the budget piece by
piece, in principle it was not a bad budget. (Hear.) In
the hest plate, it relieved the shipping interest from some
vexatious restrictions to which they have been for some
tone exposed. In the next place, it proposed to diminish
for the consumer, to a certain extent, the cost of beer and
the price of tea. (Heer.) Some persons thought that the
diminution of the malt tax was to be • benefit to the landed
intorest —to the farmer and to the landowner. That was a
pure delusion—(loud cheers)—an entire delusion. (Be-
ttered cheers.) It could have been of no benefit to them,
except by raising the price of barley. But hew was it to
rune the price of barley ? Why, as beer would have been
cheaper, it was said more would have been drunk—more
malt would have been made, and more barley required;
and the demand for barley increasing, the price would have
increased. Not a bit of it. Foreign barley would have
coins in—foreign malt would have come in ; the
farmer would not be a farthing better off. Therefore, he
bad no interest in the matter. (Hear, hear.) Well,
then, another part of the beeiget was to increase the direct
taxation, by eoubling the house-tax upon these who paid it,
and exteeding it dowa to ten pound houses. Well, gentle-
man if the public credit required an increase of taxation—
lithe misty of the country needed an augmentation of
sad ilea other mode less objectionable could be
mount,
pomaded that the patriotism and good sense
of the lesmesbeleme el England would lead them cheerfully
M 11011111•••• even is such an augmentation of their burthens.
(Hear, hear.) But there was no such necessity in the pre-
test instance. The necessity of augmenting the house-tax
emote be created by the diminution of the malt-tax and
beg duty—and the import duty on tea. Well, these were
met necessary things. We can go ontelerably well with-
out there—(laughter and cheers)—ead, therefore, the aug-
mentation of the house-tax was an unnecessafy increase of
the burthens of a class of men, whose heathens it is not
desirable to add to without some real and pressing neces-
sity. (Loud cheers.) Well, gentlemen, it was easy to
!Mese wage would be the fate of that proposition
la the Reuse of Commons. It was very aeon manifest
that it would be rejected. I should have voted against it
if sty health had permitted me at that moment to attend.
(Rear, hear.) I was unable to do so, and did not vote at
all. Well, gentlemen, governments have often been beaten
on questions of taxation, and have not thought it necessary,
co that account, to resign. The late government took •
different view of that matter. They staked their existence
en the carrying of the double house-tax, and that proposal
having been rejected, they tendered the resignations of the'
Sinew. (Hear, hear.) Now, gentlemen, that governmeni
undoubtedly contained within' itself men' of d
ability, of splendid talents, and of highly establtnegdunhe "
totems as oratenstaad statesman. Bat taking the Tree.
neat as • whole, it was net, in the aggregate, composed
such a number of men of administrative experience as the
wants of the country, in the present f affaAn"
seeed in public opinion t req
if that (p
• e. H posture
o
themrefore, it is my opinion, othafear' ..--
resigned on the question of the budget, it could nott lease.: able have expected to survive to the end of the session.
11 ell, gentlemen, that government having resigned, and a
government being about to be formed, composed of men
of liberal principles, of expmena in office of enlightened viewe—many of whom I have long withaeted' in
hk; *then of who I had lately associated w ith gujiic
in
Parliamentary functions; and it bei thought that m my
aught contribute to render the government gmolte mefromlolfedths, 1 feltgentlemen, that should have been shrinking
performanee of pabOc duty if I had refused the
adtations which I had received, not only from the present
be el the gov ent, from m most valued and esteemed friend the Marquis ofbut Lansdowne, (Hear, bear) °Hainaut. I think I may say—l think it may he
eltlr. e i
without improper
in
uimproper boasting—that there has seldom, if
Lines • this country an administration which com-
' mare men who, by their talents, their
- political principles, ore more entitled
of their countrymen. (Hear, hear)
government will receive that contidence
they have • right to eiiim ; and I
ugh the House of Commons es divided
greatly varying in number between
•‘ triut, and I think we may
we shall receive fro.n the
..et fair sad generous support to which
government may fairly think it ie ems',
o) (Gentlemen, I say nothing of Al
of the future by the past. It wet All
the government to be telling hie
cabinet intended to do, and what
I their future deliberations; but this,
Sire of, that this government will boll
. ne rule of their conduct, the principle:of
improvement in all matter, which concern the
• of the country. (Loud cheer,.) I trust that
*0 maintain abroad pewee with dignity and
•s.) I trust th it we shall be able to
fellow-countrymen at home ;
anorf__r
.t!ie goverament that which Englishmen
a fair stage and no favour;.. a fair trial,

end a just and impartial judgment. (Load cheers.) Gen-
tlemen, I beg to return yea my hearty thanks for the
honour you have done who in again re-electing me as one of
your representatives I hope I have not trespassed too
long upon your time and attention. It, however, time
would have permitted, and your patient. allowed, I might
have expatiated at greater length, but I will claim the
promise which you were kind enough to make to me at the
outset—namely, teat you would permit me to tandems*,
within the shortest possible limits, such observations which
I:thought it my duty to submit to you. Gentlemen, I beg
again to return you my thanks fur the repeated confidence
you have placed in me, and the accumulated honour,
which you have heaped upon me.
The noble lord then retired amidst loud cheers.

After a few moments, the noble lord stepped forward to
the window again, and said—ln returning thanks to the
electors of Tiverton, as their member, it was my duty not
to forget that great question which has agitated the United
States, but which has not yet been carried in this country—
I mean the women's question. (Laughter.) In that coun-
try (the United States), they maintain that the ladies
ought to vote—our progress has not yet reached that point.
But nevertheless, having returned thanks to those entitled
to vote, I may, perhaps, he permitted to thank those who
influence those who (13 vote; and tender my humble
thanks to the ladies of Tiverton, for the kind offices they
have performed in my behalf, as well as to their :elation*
and friends. (Cheers.) The noble lord then proposed, in
eulogistic terms, the thanks of the meeting to the Mayor,
which were warmly accorded.
His Worship having responded in a brief speech, the
pruceediugs terminated with three cheers fur Lord Pal-
merston.

RETURN OF THE RIGHT HON M. T. BAINES.
The election of " a fit and discreet" person to fill
the vacancy in the representation of this borough, canted by
the elevation of the Right Hon. M. T. Baines to the office
of President of the Poor-law Board, took place in the
Coloured Cloth Hall-yard, at Il o'clock this morning.
There was a smaller number of electors present than is
usual at • borough election, and the proceedings were
throughout perfectly unanimous.
The MAYOR (John Hope Shaw, Esq ), as returning
officer, opened the proceedings by explaming the object of
their assembling, and then read the precept from the high
sheriff and took the co-tomary oath.
The Bribery Act baying been read,
DARNTON LUPTON, Esq., proposed, as a fit and
discreet person to represent the borough is parliament, the
Hon. M. T. Baines. (Applause.)
JoIIN WILLIAMSON, Esq., seconded the nomination.
No other candidate being proposed, the mayor, amidst
great cheering, declared Mr. Baines to be duly elected.
The Right Hon. M. T. BAIN= then came forward, and
waa very enthusiastically received. He said that it was but
six months since he bad previously had the honour of
standing before the constituency of Leeds, but those six
months had been six months of a very eventful kind.
(Hear, hear.) When he had the honour of meeting them
. last they were in the act of pronouncing their verdict
, upon the great question as to what should be the future
commercial policy of this country. (Hear, bear.) That
verdict they pronounced in the most emphatic , and
they returned his hon. and excellent colleague Sir George
Goodman, and himself, in order to convey to the Commons
House of Parliament the opinion of their binstituents upon
' that subject. (Hear, hear.) A large majority of the re-
maining inhabitants of the country came also to the same
' conclusion as the constituency of Leeds with respect to that
' policy. (Hear, hear.) If her Majesty's then government
had thought fit to speak as plainly and as distinctly upon
the subject as the constituency of Leeds did, they would
h see saved themselves • great deal of difficulty and ember.
easement. (Hear, hear.) But when parliament met in the
month of November, a speech was delivered from the
throne by her Majesty (but which was is reality
the composition of her ministers), which contained
a paragraph on the subject of free trade, so
curiously and ambiguously worded that nobody could
make anything of it. (" Hear, hear," and laughter.) It
might have any meaning that anybody chose to put upon
it, or it might mean nothing at all. (Cheers and laughter.)
It did not appear to those members of parliament who kad
been returned to pronounce a verdict upon this great
question, and to have that question settled foe all future
time, that free trade should be left in so unsatisfactory a
state. Accordingly, • motion was brought forward by Mr.
Charles Villiers, the old and Used friend of a repeal of the
' corn laws, who, he (Mr. Baines) was happy to say, bad
thought, as he (Mr. Baines) had thought, it was not im-
proper to take office under the administration of
Lord Aberdeen, seeing that he was now Judge
Advocate of England. (Hear, hear.) That mo-
tion was brought forward distinctly pledging parliament
to • liberal commercial policy, and characterising the re-
' peal of the corn laws as a wise, just, and beneficial mesa-
' sere. Inasmuch as he (Mr. Blinn) thought that measure
to have been eminently wise, and eminently just, and
neatly beneficial, he, when that proposition was intro-
' duced, felt himself boned to vote in favour of those words
in Mr. Villiers. motion. (Hear, bear.) It appeared to a
oz.jority of the House of Commons, including some free
traders, unquestionably zealous and unquestionably sin-
' cere in the maintenance of that greet cause, that it would
' We better to avoid the introduction of those words, and se-
' cordingly • proposition was carried by • majority fur
omitting them in the resolution adopted by the house,
but at the same time pledging the house to
the maintenance of the free-trade policy. He him-
self was not sorry that the proposition omitting these
words was carried, and the one in favour of which he
voted was rejected ; because if the one proposed by Mr.
Villiers had been adopted, it was not impossible that the
administration might have resigned upon that point, and
then there would not have been an opportunity of seeing
their budget. ("Hear, hear," and laughter.) The cone-
' quences of that would have been, they would then have
said that if they had had an opportunity, they would have
brought forward such • budget as could not have failed to
have pleased everybody, but they (the free trade party)
' had prevented them. ("Hear, hear," and laughter.) The
budget was, however, brought forward, and he was booed
to say that it was • budget to which be, iu
some points, could give his cordial approbirion.
' (Hear, hear.) He theught it right to propose a
a reduction of the tea duties. (Hear, hear.) He thought
it right t, pewees a remission of he burdens upon ship-
ping, with which it was unjustly loaded. (Hear, hear.)
He would have had great pleasure in supporting those parts
' of the budget, and he was still ready to support them, let
them be brought in by whatever government they might.
' (Cheers.) But the same budget contained other peopled-
, tions to which he could give his consent. (Hear,
, hear.) In order to afford an apparent boon to the agricul-
' turists of this country, it was proposed to take off one half
' the malt tax. Now, the malt tax amounted toe very large
annual sum, and he did not believe that amongst all our
taxes there was one lees objectionable than the malt duty.
(" Hear, hear," &Dd.& bey. "The teetotallers have taken it
all off," and laughtei.) Well, it was proposed to take off half
this malt duty ; and in order to maks up the deficiency its
reduction would create, it was also proposed to double the
house tax, and extend its area from 20f. to 101. as the mini-
mum. Now, he could comment to that. (Cheers.)
The government also thought fit to pat the resolution for
doubling the house tax in the very front of all the resolutions
connected with their budget, and they declared that by it
alone they would stand or fall. The resolution went to the
vote, and his honourable colleague (Sir O. Goodman) and
himself felt themselves bound to vote against it. The pro-
position was rejected, and rejected net merely by those who
were generally found in opposition to her Majesty's then
government, but rejected by the votes of gentlemen who
were looked upoa in every part of the country as some of
the wisest and most distinguished members, and the greatest
ornaments of the conservative cause. (Hear, hear.)
Such gentlemen as Mr. Beckett Denison, the representative
of the West ).tiding—(cheers)—and the Right Hun. James
Stuart Wortley—(hear, hear) —they found themselves
bound to vote against the proposition for the increase of the
house tax, and it was consequently lost. (Hear, hear.) Her
M.ijesty's government then resigned their offices, and the
country was left without • government It was under
these circumstances that Lord Aberdeen, in 'unction
with the Marquis of Lansdowne, was eomaisdoned to form
a new administration. That administration had been
formed, and one of its offices (out of the cabinet) it was
his (Mr. Baines'.) honour now to hold. (Cheers.) Now, of
late years Lord Aberdeen had not taken any prominent
part in political discussions; but it was perfectly well
known in all political circles that of all the oolleagues of
Sir Robert Peel in the year 1846, when Sir Robert
brought forward his =emus for the repeal of the corn
laws, Lord Aberdeen was the meat zealous, decided, and
consistent ice his advocacy of that great measure. (Cheers.)
He gave to Sir Robert Peel more effective encosragesseat
and assistance than any other colleague, sad that assistance
was given with a sagacity and foresight which bad been
amply justified by the results—(cheers)—and that those
results had been happy oat s was verified by the experience
of all whom he (Mr. Baines) was addressing. (Hear, hear.)
Long might they go on still further to develop themselvei.
(Cheers.) Lord Aberdeen, such es he had described him,
had been called upon to form an administration, and
another member of his cabinet was that distinguished no-
blunter: whom the had lately had the pleasure of receiving
Jin Leeds—Lord ohn Ruutll—(loud applause)--• noble-
man whose former position would well have justified him
in aspiring to hold the highest situation in any
government, but who , with a self-denial deserving of the
highest possible praise, had taken office as Secretary of
State under Lord Aberdeen, his single object being in this
as in every other of his public life to do whatever he pos-
Ably could to promote the hest interests of his country.
(Cheers.) The recent visit of the noble lord to Leeds was re-
membered by the inhabitants with pride and pleasure ; and he
(Mr. Baines) thought he could undertake to say, with equal
oonhdence, that what the noble lord then saw of the popu-
lation of this great district left upon his mind, with regard
to the good sense rind right feeling of the people, impressions
which no time would efface. (Loud cheers.) There was only
one other member of the new cabinet about whom he
(Mr. Baines) thought it necessary to say a word, and be-
fore • Leeds audience certainly his name should
not be omitted. In the year 18n, Sir William Moles-
worth stood where he (Mr. Baines) bad now the honour of
standing as a candidate for the suffrages of the constituency
of Leeds, and they returned the right hon. baronet to par-
liament. Sir William commenced public life as an able and
Jealous reformer, and he (Mr. Baines) believed that he was at
this day one of the ablest and most earnest reformers to be
fosuil in the House of Commons. (Cheers.) Sir William
had thought it right to take a seat in Lord Abertieen's
government; and he (Mr. Baines) was quite sure that the
conatitneney of Leeds would think no worse of any ca-
binet of which Sir William was • member. (Renewed
ee'eers.) With regard so the other members of the cabinet,
,be cluld only say that they possessed as great an amount
of adoinistrative atiiiity as was ever pursued by any co-

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