The Sun.
London, England, 1859-07-22 00:00:00

THE BUDGET.

Mr. DISRAELI— Sir, before you leave the chair I wish
to make a few observations on the present financial condi-

tion of the country, which it will probably be more conve-
nient for me to offer now than when we are in committee.
It is scarcely necessary for me to advert to the conduct of
our finances by the late Government, or to the condition in
which they left them, because the right hon. gentleman the
Chancellor of the Exchequer has noticed generally what
took place under the late Administration with respect to
our finances, and he spoke of their conduct in so fair a
spirit that I am not disposed in any way to question his
description, being quite sure that if in one very important
particular he conveyed an erroneous impression to the
house he did so merely through inadvertence. I may, how-
ever, remind the house that when we acceded to office,
and it became my duty on the part of the Government to
state the position in which we found our finances, and the
ways and means which we proposed to meet them, the
country had scarcely recovered from one of the severest
monetary and in some degree commercial convulsions which
it ever had experienced. (Hear, hear.) Indeed, if we take
the amount of commercial disaster as the test of the gra-
vity of the crisis, what happened nearly two years ago was
without exception the worst state of depression which the
commercial classes of this country have passed through in
our time. It was under those circumstances that I was
called upon to state the condition of our finances, and to
propose the ways and means to this house at the early part
of the year 1858. The house will recollect that on that
occasion there was a deficit, if I remember right, of about
four millions which we had to encounter. That deficit was
met by a proposition on the part of the late Government
that we should put an end to the fictitious sinking-
fund which had been instituted, and that we should
not pay off two millions of Exchequer Bonds which
were becoming due. The sinking-fund and the Ex-
chequer Bonds formed the greater portion of the deficit
which we had to face. And it was the opinion of the Go-
vernment that it was not expedient, perhaps under any cir-
cumstance, but especially at a moment when the commer-
cial classes were suffering in the manner to which I have
referred, to make any great increase in the taxation of the
country, in order to pay off incumbrances and to reduce debt.
Well, it was, I think I may say, the unanimous opinion of
Parliament that we took a right course on that occasion.
It was the opinion of Parliament, the country at that
moment being in a state of considerable distress, that we
should not think of laying on £4,000,000 of new taxes to
support an artificial sinking fund, and to pay off £2,000,000
of Exchequer Bonds for the sake of reducing the public debt
to that amount. It is not necessary for me to vindicate the
course we took upon that occasion. That course has not
been impugned in this house or in the country ; on the
contrary, it has been unanimously approved—(hear, hear)—
and all the attacks that have been made upon it have been
made out of doors, and I have no doubt in the same spirit,
and probably by the sane machinery, with which attacks
have been made upon other portions of the policy of the
late Government which time has already vindicated.
(Hear, hear.) The deficiency of £4,000,000, to a certain but
much smaller degree, would have been increased by a re-
duction of the income-tax from 7d. to sd. That reduction
had been provided for by law, and in the course of the year
it would have effected a reduction of revenue to the extent
of £1,000,000. The Government were of opinion that it
would be most unwise to interfere with that natural and
legal reduction of the income-tax. They thought that there
were social and political reasons which ought to influence
them in that decision, as well as fiscal and financial ones.
It appeared to them to be a matter of the greatest import•
once that the general understanding which prevailed
between Parliament and the country, that the income-tax
was to be gradually reduced, and at a certain period to ter-
minate, should be observed in spirit at least if not in letter,
and that we could not count upon the country rallying
round the Government upon an emergency if, upon the
first occasion, it found the Ministry anxious to relieve
themselves from the engagement which had been entered
into with respect to the income-tax. Our policy upon this
point was almost unanimously approved by the house and
the country ; and although there may have been some who
thought that, under all the circumstances, it was toe
hazardous a course to take, I think I may appeal to the re-
sult of the management of the finances under the late Ad-'
ministration, as showing that totally irrespective of social
and political considerations—looking only to financial con-
siderations—it was a course perfectly justifiable, and, in
fact, ultimately very beneficial. (Hear, hear.) It was
supposed then, by the late Government, that they would
have to encounter in the year 1859-60, in consequence of the
policy which they recommended Parliament to adopt, a
deficiency of probably not less than £3,600,000, viz.,
£2,000,000 of Exchequer Bonds, a loss of £1,000,000 in the
shape of the second half of the reduction of the income-tax
from 7d. to 5d., and deficits amounting on the whole to
about £500,000. Let me ask now, have the expectations
held out by the late Government with respect to the re-
sources of the country been realized by the event ? We
paid the £2,000,000 of Exchequer Bonds out of the balances
in the Exchequer, and I may say here that the Chancellor
of the Exchequer seemed to labour under a mistake when
he assumed the other night that it was not the intention of
the late Govei wnent to pay the Exchequer Bonds out of the
balances, and that if we had dono so it was in consequence
of the political and Parliamentary disturbances which
ended in the recent dissolution. That is not the case. It
was always the intention of the late Government to pay
those £2,000,000 of Exchequer Bonds out of the balances.
They found the balances in a strong state, and they in-
creased their strength by calling upon the Bank for that
£1,000,000 which otherwise they would not have demanded,
and which they were authorised to raise under a financial
arrangement which the house sanctioned in 1858-9. Had
we not contemplated paying the Exchequer Bonds out of
the balances we should not have called upon the Bank to
pay us the second moiety of that loan, but should have
allowed that £1,000,000 of public debt to be extinguished.
But we called for that second £1,000,000 in order that we
might meet these £2,000,000 of Exchequer Bonds, and that
we should not be under the necessity of continuing them or
postponing their payment. (Hear, hear.) How then, were
were we to meet a deficiency of £3,500,000 consistingmainly
of £2,000,000 of Exchequer Bonds and a reduction of in-
come-tax to the extent of £1,000,000 ? We anticipated that
we would meet it by a surplus revenue,--by. an excess of in-
come over expenditure. I estimated the revenue at a sum
something lake, but *lightly under in round numbers,

l £64,000,000. It is not necessary to vindicate the conduct
of the late Government upon every one of the items of that
estimate. It is possible, and always will happen, that when
L you have at the commencement of the financial year to offer
an estimate to the house of the resources of the country.
some of your items will not be exactly realised, because they
must after all to a certain extent be hypothetical. All you
have io expect from a Chancellor of the Exchequer is, that
his estimate should as a whole proVe adequate to the occa-
sion, and that the sums realised should not generally fall
short of the calculated amounts. An estimate of revenue
which takes a whsle year to accrue must prove inaccurate
in some of its details.; but if you find it realises the sum
which the Chancellor of the Exchequer has led you to ex-
pect you are bound to admit that in that respect at least he
has done his duty. (Hear. hear.) What happened, then,
in the year for which the late Government are responsible ?
The estimate was under £64,000,000 ; the receipts were
£65,500,000; showing an excess of £1,500,000. (Hear.)
That £1,500,000 furnished us with resources for meeting a
decline in the revenue occasioned by the second £1,000,000
of the reduction of the income-tax, and also left a sufficient
surplus. It had been said that the excess 0f11,500,000 was
not so genuine as could have been desired, oocurring to a
considerable extent under the head of " Miscellaneous"—
a source upon which implicit reliance cannot be placed.
That is perfectly true, and it was foreseen by the Govern-
ment.. At the end of the year, after the third quarter
when it became my duty to consider generally our finances,
and to prepare for that exposition of them which ordinarily
takes place at the commencement of April, we deducted
the probable amount of " miscellaneous" from our surplus,
reducing it to a Comparatively small amount, and by ex-
tending the ld. stamp duty to a variety of instruments re-
ferred to by the Chancellor of the Exchequer the other
night, and by some further financial operations, we made
arrangements not only to meet the deficiency occasioned
by the loss of £1,000,000, upon the income-tax, but also to
leave an ample balance in the exchequer. That is the general
position
in which we should have left the finances had it
not been for the occurrence of political events of great im-
portance, and therefore I hope I may claim for the late
Government that their management of the finances was
sound in principle and prudent in administration. ,(Hear.)
Such, then, is my answer to those who for a considerable
period have alarmed the country by descriptions of our
finances being conducted upon a hand-to-mouth system, of
their being managed in a slovenly manner, and of the diffi-
cult and perilous state in which they would be found by our
successors. On the contrary, nothing we did in the post-
ponement of the public engagements was done without, not
only the concurrence, but the unanimous concurrence of the
House of Commons ; and I think the course of affairs since
has completely vindicated the policy we recommended to
Parliament, and which Parliament sanctioned—viz., not to
waste our resources in maintaining artificial sinking funds,
and not, after the catastrophe of November, 1857, to im-
pose £1,000,000 of new taxes upon an industrious people
smarting under great disasters. (Hear, hear.) I have
already mentioned that at the commencement of the year
political events occurred which entirely changed the aspect
of affairs and the situation of the Government in respect to
the finances. It became necessary very early in the year
greatly to increase the estimate for the navy, and also to
make an addition to our military expenditure. No one on
the other side can blame the late Government for the policy
they recommended the house to adopt. Our conduct has
met with general approbation, and although the result of
our measure is, no doubt a deficiency of between £4,000,000
and £5,000,000, all admit that our expenditure was called
for by the highest interests of the country, and that no
Minister could have shown himself in this house who was
not prepared to make the necessarp arrangements for a crisis
which at the beginning of the year seemed fast approach-
ing. (Hear.) Our successors have had to meet difficulties
from which we should not have shrunk, and of which we
are conscious. I hope the house will not think I have said
too much in vindication of our conduct. This is the first
time I have noticed those continuous and utterly false at-
tacks that have been made upon our administration of the
finances. I am perfectly aware of the position of the pre-
sent Government, and I am anxious, as is every gentleman
on this side of the house, that they should receive a fair and
candid support. Let us now consider the course which the
right hon. gentleman recommends us to take. I will, in the
first place, say that to the decision to which the Govern-
ment has arrived of dealing with this deficiency by taxation,
and not by raising a loan, I give my unqualified approba-
tion. (Hear.) I don't mean to say there are not cases in
which even in thus of peace we should not have recourse to
a loan. Every one knows that such emergencies may arise,
but they can occur only very rarely. Twice in the experi-
ence of the generation I am addressing those great emer-
gencies have arisen. I am not prepared broadly to lay down
that even the question of the national defences, which I
understand is to be brought before the house, maynot be an
exception. I give no opinion at present upon so wide a sub-
ject, which demands the mostoautious investigation and the
closest reflection. But I say there was nothing in the ex-
penditure incurred by the late Government, and sanctioned
by their successors, which in its nature and amount justi-
fied recourse to a loan. (Hear.) Its amount, though con-
siderable, was not of that largeness which in this country is
generally associated with sums raised in such a manner.
Treating it in round numbers as £5,000,000, we must recol-
lect that there had been a reduction of taxation to the
amount of £2,000,000 within only a year and a half ; and I
think the wisdom of the step then taken is made manifest
by the position in which we now find ourselves, and by
the course which the Chancellor of the Exchequer has
now recommended us to take. Great as may be the objec-
tion to his proposition, and great as even yet the diffi•
culties he may have to encounter, everyone must feel what
an ,advantage it is to him, in making this proposition,
that the people of this country should remember in respect
to the income-tax that the Government have already, at
considerable hazard and with great difficulty, maintained
their faith. (Hear.) The reduction of the income-tax frcm
7d. to sd. in the pound was an act which put the country
in good humour, and made their feel that this was a finan-
cial weapon which the Government were not inclined to re-
sort to except under peculiar circumstances and on great
emergencies. Now, admitting that the present Govern-
ment are perfectly justified in the course which they have
taken, and quite approving of their determination not to
have recourse to a loan when the expenditure we have to
defray is such as I think the country ought, when neces-
sary, to be always able to meet in time of peace without
borrowing, I would ask the house to consider the mode in
which these taxes are to be raised. I would first, however,
observe, that; totally irrespective of the bad financial
policy of unnecessarily in times of peace having recourse
to loans, I can imagine nothing more impolitic, as regards
the opinion of Europe and the world, than at the first mo-
ment of pressure, when an amount of £4,000,000 or
£5,000,000 is, wanting in order to place the armaments
of the country in a proper position, to make it appear
that this great and wealthy country is unable to defray
such an expenditure without resorting to extraordinary
measures. (Hear.) A loan under present circumstances
must have produced a very bad effect, and must very much
have influenced the opinion ef the world as to the resources
of this country. (Hear.) Totally irrespective, therefore,
of the error in financial policy which would be caused by
now going into the market to borrow, I would say that
nothing would have been more injudicious than such a pro-
ceeding, because it would have given to foreign Powers a
very false notion of the resources of this country. But now
as to the means by which these taxes are to be raised. The
right hon. gentleman has proposed two measures; there
are two resources from which his Ways and Means are to be
derived, With regard to the third resolution, relating to , he
malt credit, I will at present only say that I think it might
have been as well, when the right hon. gentleman was tak-
ing so considerable a step, that he should have endeavoured
to obtain a larger result. I conclude that the right hon.
gentleman may yet look forward to the cZealing further with
that source of supply, but if so I think it is only an ad-
ditional reason why he should have considered whether a
greater result might not have been obtained at the present
moment. No doubt inconvenience, if not injury, must be
the result of this contemplated change ,• no doubt l this
credit must be distributed over a considerable period of
time ; and in making these arrangements and encountering
the opposition and creating the prejudices to which they will
naturally give rise, I think it is a question whether the
right hon. gentleman might not have obtained a larger sum
than the £780,000 which he expects from his proposal.
Passing that over, I come to the means by which the right
hon. gentleman contemplates obtaining no less a sum than
£4,000,000. Now, I think it very unfortunate that at this
moment, with 1860 so near at hand, the right hon. gentle-
man should have been forced to deal with the income tax ;
but I freely admit that under all the circumstances of the
case, though I might think the adoption of a smaller
rate was possible, the right honourable geneeman was
forced to adopt that tax to a very considerable ex-
tent as a means of supply—(hear, hear)—and if that be so,
I do not think that itj is for the house—approving the
general policy and acknowledging the necessity—to split
straws upon the particular amount which he is to raise.
(Hear,-hear.) So far, therefore, as that point is concerned
I should not object to the amount of the tax which the
right hon. gentleman has proposed. In so doing, however, I
cannot refrain from expressing my opinion that all the
arguments which have been offered to the house before, and
even recently, against the property and income tax becom •
ing a permanent source of our revenue are not in any way
enfeebled by the concession which the house may choose to
make as to the increase now proposed. The opinion of the
house, as I have understood it, is that the property and
income tax is to be retained for emergencies. All admit
that we are now appealing to it upon a state of things which
is not of an ordinary character • and in agreeing to the pro-
position of the Government I not only see no reason
to
change the opinion with respect to the tax which I ha
hon.
ready expressed, but I do not recognise that theright
terfere
gentleman's proposition, if acceded to, at
all
in
looked
with the settlement in 1860 to which we have always_
forward. But, although I am prepares
ttenn,tloermbayn,
thei-
posal of the Government, I con ess I should grealyi incline
pared to supportt thne pro;
in its practice to modify it. I was not at dill persuadedby any
bobasveervnaottiobnseenwpohircalinadfeeldl
information which has reached me from many quarters and
byfro rurtthheerricgohntsidelira
means to levy this special income
from representatives of many classes, that the mode in which
the right hon. gentleman
tax, namely, in the course of s.ioxim. onth.s, instead of spread-
ing it over the year, is oneyehimtainsystgranavneecoebsjsaeortyio.n(sliear.)
That it is one against which may
be urged I think the right hon. gentleman himself will
hardly deny. It certainly adds to the severity of the pros-
sure generally; in some particular instances it accomplishes
positive acts of injustice—(hear)—and, thirdly, it is not
only an injustice, but in some cases will prove absolutely im-
practicable. I will not trouble the house now by going into
this point, because that will be better done in committee.
The cases which might be mentioned, however, are nu-
merous and glaring, and I will answer for it that the
more the proposition is considered the greater will be the
objections and the more grievous the instances of hadi •-
• uduaallidnjousestriicpetiaonndoinf injury.the
lousto (Hear.) If Ciatgvie-
er this arrangement be a
just one, I cannot see why the right hon. gentleman should
persist in it. What we want, I conclude, is that this
£4,000,000 shall not be added eitbhuetr itnhlvthiotlesioloriiiindp:ortto
our permanent encumbrances,
de-
frayed
isout of the taxes of the country. (Hear.) If thehn.gtehnattleaumayn
houseoin that mood, as I believe it is, it can give the right
Chancellor of flitch" ;haenqudelr,emanunPdht eunder-
standsson one
of the resources of the righto hone. gentleman,lc with first-rate
security for raising £4,000 000 will not be able to obtain
the accomtnodation that he requires without visiting with
unnecessary severity and annoyance the great body of the
taxpayers. (Cheers) I' should therefore be inclined, al-
though I trust that it will be unnec,essary, to 'move in com-
mittee au amendment to omit the last two hues and a half of

the first resolution which would render this vexatious ar-
rangement nugatory, and give to the right lion, gentleman
all the resources he desires. (Hear, hear.) Now, Sir. I
have touched on the conduct of the finances by the late
Government, and I have, I hope, with candour, treated the
proposal of her Majesty's Government. I offer them as
much support as financial schemes have a right to expect:
Some criticisms theygenerally occasion, andsomeobjections;
modifications are sometimes offered, and occasionally ac-
cepted. I hope the right hon. gentleman will accept this.
I make no opposition to direct taxation. I have no wish to
diminish the presentamount of direct taxation in oar existing
financial-scheme. That it may take a form less unjust and
obnoxious ultimately I for one sanguinely hope. (Cheers.) I
' have long believed that it is possibleto raisethe same amount
of direct-taxation as at present without having recourse to
an impost the objections to which never can be curod, and
which is never felt at a moment of public emergency, when
whichwwith
times
tconfidence.
e though
Chancellor
It adds
a
you appeal, and rightly appeal, to the higher feelings of the
country. (Hear.) Therefore, in times of war, or even in war-
liket h
times
of
dot
dfh
se peace,Exchequergreatly
maya n
ainstrumentwyap ;
ei d
to
if
influence of this wintry with foreign
countries,not abusd, to the
anedia,in
fact, as important to this country as fleets and armies. Tlie
consciousness that this country by a single tax, if neces-
sary, at a moment of exigency, can raise a sum as great as
those loans that despotic monarchs raise with so ranch dif-
ficulty, at a high rate of interest, and to which they appeal
with so much boastfulness—the knowledge that by a single
tax we can, in the ways and means of the year, give, our
Sovereign a sum as great as those loans which sanction
aggression and invasion—this is one of those great facts
that influence the minds of nations and of Cabinet's, and
is a source of strength to a country that is incalculable.
That is one reason why we should not fritter away this
treasure. And although it may be desirable to appeal to
the income tax at times of great commercial change or risk
to enable us to effect reforms, we cught not to' look upon
this as the habitual creature of our financial schemes. And
every scheme consistent with sound finance will reserve
the income tax as a weapon in our armoury which ought
not to be used for trifling and common purposes. (Cheers.)
Sir, there is one other point to which it is my duty to call the
attention of the house—l mean the general condition of our
finance. The right hon. gentleman has had great difficulties .
to encounter this year. The prospects of this year under or-
dinary circumstances are extremely perplexing, but under
the circumstances that have sprung up of, late in Europe, and
which are still-in a state that occasions anxiety, the financial
position of this country in time of peace ought not to be
passed over without notice. -We are now raising a revenue
of nearly £70,000,000 per annum in time of peace. There ‘'
is no country that can go on raising £70,000,000 a-year in
time of peace with impunity. (Hear, hear.) England
cannot do it, and if England cannot, no country can de it.
(Hear, hear.) How are we to meet this great and grow-
ing evil P It is useless to throw tne blame on the Govern-
ment, to whatever party it may belong. There are, no
persons so interested in the economical administration .Of
the country as the Government of the day, whatever Party
they may be of. (Cheers.) The struggle against expenai-
ture is always a struggle between the Government and Ihe
public, or between the Government and public events. 'The
position of a Minister is much more easy, much more agree-
able, when he has not to lay on taxes; and nothing has so
much led to the destruction of Governments and the injury
of parties as having to deal with national finance at a period
of confusion or deficit. And we shall do nothing by mak-
ing declamatory speeches in this house and the country,
unless we ourselves take the question in hand, and see how
and in enforcing what we call an economical administration
far we can assist the Government in that great and neces-
sary result. (Cheers.) Now, sir, a great deal has been said
about the civil service expenditure of this country, and I
have heard it said that we are to obtain great results in re-
ducing the civil service estimates. I look upon that as
quite delusive. (Cheers.) The Government of this
country is upon the whole an economical Go-
vernment, and if you analyze the expenditure of
the civil service estimates you will find that it is
an expenditure really for the advantage, the welfare,
and the advancement of the great body of the people.
(Cheers.) The administration of justice, the education of
the people, the health of the people, are the three great
sources of expenditure. It may be true, and it no doubt is
true, that some of the principles upon which these measures
are founded and these changes are recommended may be
exaggerated. There may be, no doubt, in the administra-
tion of the funds some expenditure that may be' avoided.
Sometimes there may be a secret job to be detected ;
but, if you look to the main objects and the main re-
sults, what are they ? You have an expenditure to in-
sure order, to insure .• education, and to secure the health
of the people. Why, these are the three great sources of
public wealth. An educated, an orderly, and, above all, a
healthy people, are the three principal sources of public
wealth. And if we in a moment of difficulty make war
upon this expenditure for the civil services, and reduce th 4
items of expenditure for these three, sources, we are really
reeking war on the civilisation-of England—we are really
making war on that prorress which everybody is so fond of
appealing to, and which every one is so ready to assist.
(Hear, hear.) And therefore I hold that although these
civil service estimates may be prepared with care and re-
vised with strictness, this is not the source from which we
can obtain that relief and those ways and means for which
the country languishes. Now, sir, let us approach the great
sources of expenditure in this country. They are enor-
mously increased. (Hear.) If we were to follow the advice
of some, even of many in this house and the country, they
would be still further increased to a very great extent.
(Hear.) Great as is the expenditure, we are still told that
the defences of this country are most imperfect. (Hear.)
Vast as have been our preparations, we are still told that
the honour of England is not safe, and that it becomes us
to make still further exertions—that our fleet ought to
be increased—(" hear, hear," from Sir C. Napier, and a
laugh)—that our army ought to be increased—and that
other means should be taken for rendering the position of
this country more powerful and satisfactory. Well, then,
what are the ways and means that you have to encounter ?
You have great difficulty in meeting the burdens that it is
necessary to bear. How, then, are you to encounter the
future prospect that is so frequently held out, of a further
expenditure for armaments and defences ? Now, sir,
I have once or twice endeavoured to impress this house
th 4 when you come to public expenditure on a great
scale, expenditure depends upon policy, and when those who
sit in this house dilate upon the expenditure of this coun-
try, deplore the waste of our resources, and then call upon
the Minister to reduce that expenditure, and administer
with more ability the ways and means placed in his hands,
when we do this we are in fact doing nothing. The minis-
ter only maintains that expenditure which upon the whole
thef policy of the country demands, and you are resposible
tor, the policy of the country at this moment. (Hear, hear.)
What is our present policy? What is our future policy?
There are two points of your policy that you must not ne-
glect if you are sincere in your determination that this country
shall not be involved in difficulties far more perplexing, and
froin which it will require the greatestest sacn flees to extricate
her. There are two points of policy pressing upon us at this
moment which it becomes the duty of the Houses of Par-
liainent to consider fully, and respecting ,which they must
require from those responsible for the administration of
affiiirs the most precise views and the most accurate know-
ledge. A little while ago—not more than two months ago
—European war seemed impending ; a most sanguinary
struggle in one European country had commenced. It had
now terminated, and in a manner most unexpected, and
oven at this moment the house had scarcely recovered
from the surprise with which it received the news that
a struggle which many expected to last for years
had suddenly been brought to a close. Now, he
took no part in the transactions that led to the com-
mencement of that war. It was the policy of the late Go-
vernment under those circumstances to maintain a strict
and impartial neutrality. It was misrepresented for
a time, but the country has already, I believe, done us jus-
tice in that respect. (Hear, hear.) Although from some
speeches which were delivered from their (the Opposition)
side in the last debate, when I addressed the house from
the Government benches, it might have been supposed
that our successors were on the eve of adopting a-
_policy
of a very different character, although it appeared as if
a policy of a wholly different character must ensue front
a change of Government, yet I have the satisfaction of
knowing that no sooner had the new Government taken
their seats than they announced their intention to follow in
the footsteps of their predecessors upon foreign affairs.
(Hear.) That was a very satisfactory statement, but events
have occurred of se much importance and with such rapi-
dity as to add immensely to the value of that statement.
There is an armistice that produces a peace, which. is wel-
comed by every one, not only on account of the interest
iy-hs
stilli more h allfeelininterthesetirneg to restoration of
e, but what I, think
not at all mixed up with the commencementhoefeatnahee we were
nor are we in any way responsible for its conclusion. Now,
we hear there is a prospect of a Congress or a Conference,
but that Congress or Conference is to be attended by the
at-
tends such Congress or Conference it ceases to be neutral—
neutral Powers. The moment either of these Powers
(hear, hear)—and not only ceases to be neutral, but beoaeniares
responsible for the past as well as for the future. (11 9
hear.)
at
make. The
Emperornocriticis omufptohne tFherepneeahcowtaahadt
ehnaseuhbeeee;
arrived t
naewfedwenmeunonteehds
baerausbeechaeuwseillhmeakweoupeldaeem.
akßeutwlaret u;shleoolks
at the position of England with reference to the startling
transaction at Villafranca. There are two things. First of
all, we have peace. lam not at all disposed to treat that
peace with the contemptuousness whichsome persons already
exhibit. I believe peace to be a great blessing, that there is
no country in the world that benefits more by peace than
country
E ha utro ip s
England, but I believe that, materially speaking, peace was
more necessary to every
great result by it,
commerce and stinau-
lt
ahtaetd i tt
hh ae
es
eatgrhaneatibtlewsasisnto
England. (Hear.) We have gamed this
g.
ic considerations Then, as to the political and diplomat
ngeirgien s o anf
ou imr
pu
t zs e
alt o s in
our
That
con-
nected with this peace, what do I see ? I find
that not only
we have a peace, but we have a Petite concluded without
disturbing that political equilibritun which England has
always declared to be her main object. Is that slight
matter to us? I say, viewing a
g the startling events that have
occurred in Italy from an English point of view, that both
because they give us peace andthat respects becausepeace
the balance of power, to
maintain which we have in other
times lavished millionslives, of treasure and hundreds of thou-
sandss, and therefore, as Englishmen, we ought to
look upon that transaction with great satisfaction. All the
fruits of recent events which are satisfactory we
benefit of. For those results which may not b e enjoy
the
we are not atallWill responsible. e satisfactory
you, then, thrust your-
selves • into a business with which you have no connection
—(hear)—in relation to which you stand in a satisfactory
position ; and will you thrust yourselves into it from mere
motives of public vanity, that you may say England has a
hand in the settlement of the affairs of the world. (Hear.)
Some of those settlementsriselike exhalations and disappear
like exhalations. Will you quit the vantage ground you now
occupy, and for such mean and vain objects P Will you
' thrust yourself into Congresses or Conferences, where you
may enter into engagements which will result in confusion,
and will involve us in proceedings that must prove mos
injurious to our resources, and from which we can only
reap disorder and ruin. (Hear, hear.) In 1816, when we
had the Congress of Vienna, England could not refuse to
send a representative to that great Assembly. She had
taken too great a part, had been too active a Pert,' fora
series of years, to allow her to shrink from the responsibi-
lity of her own conduct. But what were the engagementst
r,
that we entered into at the Coneress of Vienna? We
there-
entered into engagements whiclino British Minister of him
if it had
self would over have contemplated, and wh.ch
d to attachbe
indignant
his signature to, would have led an a
him from it
House of Commons to prevent
of Vienna we have attending
august assembly. By the Treaty
ss, guaran
a.was by an ac
teed the Saxon provinces of Pru It.
representation of urgent interests at that
dent, by the
that England was entrapped,
I•
may say into
Congress
one of the most solemn andunqualified covenants this
country ever entered into. We are told now that the
next` war is to be against Prussia. How, then, shall we
stand in the case of war between Prussia and a great
Power with this article of guarantee entered into by the
Treaty of Vienna P If we now send a Minister to the Con-
gress or Conference—l don't care whether it meets at ZUrich
or at Paris—what will you send him to do ? To do nothing,
which would be only the symbol of our insignificance ; or to
miter into engagements Which must involve us in increased