New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1861-08-02

tren that Sydney Smith was p evoked in'o saying;
The Americans have cut tbemelyes oil from al resOGr-
Of credit" ard predicted that they could never
| draw the sword for want Of the power 10 borrow
shilliug. This belief bas far been fasited and so
l5 as trade and manufactures flourish in the North,
tie sinews OF war will be forthcoming. But, If the
| contest should prove more tedions than Mr. Lincoln
eeems to expect it cannot be aid for ou' Of revenue
or even If the private CAPT al Of country. The
aid OF foreign loans must then lie invoked, and the ne
go'iators will not fail TO demand either very high Id
! ters or such security it will lie difficult for
Confederation Of an uncertain number Of States TO
supply.
LORD JOHN RUSSELL TO BE MADE A PEER.
From The london Timer IpIg 10.
The announcement which We made Yesterday Of the
ntepced elevation Of Lord J'hn kus,l TO the House
OF PEER although Of an event neither premature nor
unsuitable will doubtless take many of our readers
BIZ surprise. For tie las vcnd-foty years The name
u Lord John Rusaell hiss been connected with every
species Of political vi,is,ude-now with o. most
complete success now with the most cn lele ihlnfe,
with tie formation of Government and the dissO
lotion Of nnober with the ep-s Of The Teet and Cor
pcraon Acts, with Catholic Emancipation, with TIE
Reform Bill, with huDiciTal Reform, with the Corn
Iaws-in fact with every stirring and every important
measure of The tmes 10 which We liv-. On Ill these
,ubjtcls Lord John Russell bias played incobsJer
able part aud IL canno, unreasonable that Ia the
fGlpo q years aud houos the Siatean OF such long
ard such weird leionce rhould seek iorrepose that
bGlycon clion where Supply is unknown, where Tie
dinner boar is the most sacred ins tuition, and where
IN nee ~ three or four oimii,hes The difficulty Of
en- orator aud the chance Of hvstilo interruption.
Lord John Rus eli fret held seat In The House Of
Commons when Geore III. King In the year
1873 before the First Napoleon Was hurled from his
throne, and Willie Toy ism 10 the very zenith OF
/ skeendaDcy. lie las been First Lord OF the TTeas-
ury ard SECRETARY If State for tie Home, Colonial
AID Foreign DEPARTMENTS AID, teside tie Govern.
ment of which ho was the head, lie has been a mem
Der Of tie Administrations Of Lord Grey Lord Mel
bourne, Lord Aberdeen, and Lord PalmeriOn. Bat,
rcd
from the great Liberal party TO movo ia the House OF
Commons he introduction Of the great Reform BILL IL
was biz Vol that first nanFurated the great kevolu
ton Tor sucb IL has undoubtedly proved, Of lo32
Lord John Rlssels DYme bias been so long connected
with the HOutc Of Commons that II Is dfticult 20
Imagine him coniendng Ia any other arena. But we
can perceive the dignity and admit The wisdom Of a
retreat from that prominent position which he has so
long tcd in the public eye before time has made aoy
iurOad hi. faculties deprived him Of the iniu
snce which lie has long exercised tie delib
erutions Of the lou'e OF Commons. We have felt il
our duty many occasions 10 express strong dissent
from the views and strong dislpproyal Of the pro-
oeedings Of Lord John Russell We have nothing TO
retrad; bu, ne, nevertheless, sincerely wish TO a
state who has 90 long been the companion through
our columns Of the great public Of s county, and tie
object OF 70 much criticism and auinadyersOn, long
ana tranquil enjoyment Of the repose which he has
earned by life Of manly and incesean labor such
few men would, we believe, be willing 10 endure
even FOR the privilege Of stying Themselves Prime
Minister Of EDya Lord John Russell retains IN
the UIer House the re is of the Foreign Office o.
that no ange need be opprehenced in tie Of
vigorous and SAUL pulley which, while presery-
ing England FREQ from foreign war and unnecessary
Intervention In the Affairs Of other Statee has extended
her influence and raihed her character.
The links which connect Va with the past are con-
tinuaily breaking and II IL impossible regard with
ost a feeling melancholy the severance of tho tie
which has 30 long bo1nd the proposer Of the RI form
bill to the House Of Commons. 10 Iart from the
House of Commons il, indeed, SPECIES Of political
a al. 4 .tYlg s...d I. h. q
House OF Lords is 10 be found abundant iliiy, with
an amount Of social influence viii h would sccure tue
utmost respect for the opinions Of its MEMBER they
would only be at the puins OF expressing them Itis,
however, they can In no wise be induced 70. Ii is
impossible 10 conceive dn y more deliberately and
systematically slirked than that which the COnsttG-
iion exchange for hoDors and privileges OF enomous
value and magnitude, has impo,ed on tie Peers OF Par
lament We doubt IL Lord John Russell, with all bis
yasi exI euce will fully realize the difference before
be has actually tried IL. We can imagine him looking
round in vain for the cheer that seldom fails N the
House Of Commons 70 reward telling point success
fnily made formidable objection skinolly parted.
lie will miss also the Friday evening caiec isn and
tho weekly opportunity, afforded hun cy MT. Foe
policy OF all tho nations on tho earth, from Mexico to
Mndag oscar.
B1t. however welcome TO the House Of Lords may
be the Accession Of Lord John Russell, the House OF
Commons, we apprehend, will Contemplate t with
very LIT 10 sat faction. While the House Of Lords
docs but one-twentieth part Of the business OF the
House OF Commons it boasts a lions share OF the
Or, tent Adainislaio Three out OF five Seore-
taies of STATE the Chancellor the First Lord Of the
Admiralty, tie Lord President OF the Council, tue
Postmaster. General the Lord Privy Seal, ali hold
seals in the Upper louse, while the Home Secretary,
and tho Secretary for India the First Lord Of the
Treasury the Chancellor Of the Exchequer, the Pret-
dent Of the Board OF Trade, the President Of the
Poor Law Board, the Chanc.ll Of the Duehy OF
Lancaster, and the Secretary for Ireland hod seats
in tho House of Commons. Lord John kasseil
poes to give more TO that which had alfeady lar
too much. At the present moment the two Minis
tes whose united Departments distribute between
twe1ty and thirty miili ns OF the national revenue
sit In the House which docs not represent ire
people. 1n voting the Army AID Navy estimates tue
Houfe Of Commons received this Year, rom the Under
Secretaries that information VIII tLey ought TO have
flotn the best and most authentic source Iotbese Is
nov added the all-import mt depaitme.t OF Foreign
Afnire 80 that, If things rem in as tiey are, tEe rep
reeeuatves OF the eople mutt DO content TO Iced On
secondhand Information. We can hardly inagiae mat
this state OF things will be allowed TO conthe ana DO
doubt the pro noiOn of Lord John ufseto The House
OF Lords viii be succeeded by impor,an! Changes.
tInhapIiy, .his is not tie only change that we AVE
~ expect. The continued incorporation OF LORD Her
bert, which has already rendered necessary hi- tenn
porary absence from this country, VIII, weappIehrnd
before long obge him 10 yesgn the seal OF TIE ar
Department We can only hope that 10 bling up THIS
vacancy some regard may be paid TO tse dispIoPoron