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THE CHANCELLOR OF THE EXCWW- r QUER'S S PEE Gil ON THE HUSTINGS. On Friday Mr. Disraeli, having vacated his seat for I Buckinghamshire by accepting the efnce of Chancellor | ,^0 Exchequer, presented himself at the County | I1* Aylesbury, for re-election.—Mr. T. T. Drake I nominated the right hon. gentleman, and Mr. P. Dancey seconded the nomination. No other candi- date was proposed, and Mr. Hoare, the high sheriff declared Mr. Disraeli dulv elected. Mr. Disraeli, who rose amidst loud cheers, said: It is not long since wa met, I believe a year ago. GaDa- rahy speaking, I am not in favour of annual Parlia- ments (laughter), but I always make an exception for the coanty of Buckingham (cheers). The circum- stances which led to this meeting to-day are briefly these. The late administration having tried the new 1 ariiament, and believing that they had not obtained I6S confidence, resigned their offices, and the Queen summoned Lord Derby to form a new administration. Lord Derby accepted the trust which his sovereign summoned him to fulfil, for in this country no man who is a candidate for power has a right to shrink from the responsibilities which that position entails. Having thus acceded to power in the spirit of the constitution, as universally admitted by a House of Commons not elected under our auspices, I feel confi- dent that our career as ministers will not be stopped by^any factious proceedings, but that shall stand or use a now familiar phrase—by the merit of ths measures which we shall introduce (cheers). We have accepted oar high position at an extremely critical moment, when all Europe is armed, and in a state of war, or a condition menacing hostilities. Yet I am bound to say that, Eo far as we can form an opinion, in none_ of the issues now calling for a solution in Europe is there any necessity for the interference of England (cheers). I know that some lock on such a joctrme as indicating on the part of England some leoune of its former power and influence; but I take i very different view. The abstention of England TOUI any unnecessary interference in tha affairs of iiarope is the consequence, not of her decline of power, but of her increased strength. England is no monger a mere Jiuropean Power, she is the metropolis °.1 a ^rea't maritime empire, extending to the bounda- rius of the furthest ocean. It is not that England has taken refuge in a state of apathy that she now almost systematically declines to interfere m the affairs cf_the continent of Europe. England is as ready and as willing to interfere as in old days, when the necessity of her position requires it. There is no Power, indeed, that interferes more than England. She interferes in Asia, because she is really more an Asiatic Power than an European. She interferes in Australia, in Africa, and New Zea- land, where she carries on war often on a great seaie. Therefore it is pot because England does not recog" nise her duty to interfere in the affairs of the continent I of Europe that persons are justitied in declaring that she has relinquished her imperial position, and has taken refuge ^in the otivm cum dignitate which agrees with the decline of life, of power, and of prosperity. On the contrary, she has a greater sphere of action than any European Power, and she ha,6 duties devolv- ing upon her on a much larger scale. Not that we can ever look with indifference upon what takes place, •on the continent. We are interested in the peace and lorcsneritv of Enm™. «.nr? T /U v- —^ -■» vvr c-t-y > iiuay UUCiO may no.: be occasions in which it is the duty of England t» interfere in European wars. If the independence or vital interests of England were menaced—as in the six- teenth century by the Spaniards,and afterwards by Louis X. [V. an a X apoleon I.-the energy of England wodd not rest until the cause of its danger and disturbance was terminated (cheers). But no one, whatever may be his political viewÐ, for a moment entertains the idea that the independence oi" the vital interests of England are now menaced, and my views as to the prevalence of peace, so far as our country is concerned, are sanguine, not- withstanding the present disturbed state of Europe ) (cheers). Our relations with our allies, though they may not agree among themselves, were never more friendly and confidential than they are at the present friendly and confidential than they are at the present moment; and therefore I hope that, consulted by all, we may ultimately prove of some advantage when the time arrives, which may be nearer—notwithstanding all this hurly-buriy of war—than some expect, when a Congress may be called, and when England, though, not a belligerent, will not, I am eure, shrink, it the appeal ia raado to her, iroca taking her aeat in. the I Supreme Council (cheers). If our relations with j Europe are friendly, they are, I am elad to say, most cordial with the Government of the United States of America (applause). There never was a period in whica, think, a better understanding existed between tbe two Governments of the United States and of her Majesty than the present. We have had a memor. I aole instance recently of the good feeling cf that Government towards this country in the manner in ■sviuch they have dealt with tha Fenian insurrection f America (cheers). State of Ireland. Tue right hon. gentleman then referred to repressive measures rendered necessary in Ireland by tie" F^ian movement in that country, and said that the Habeas Corpus Act had not been suspended in Ireland in consequence of the conduct of the Irish people, but in order to grapple with a foreign conspiracy, and to prevent foreign agents from tampering with the lovalfcv and destroying the interests of the people. The right han. gentleman then proceeded— My opinion and that of my colleagues is that the condition of Ireland is not one of satisfaction to this country. When I observe, year after year, the vast emigration that takes place from that country, it is impossible for me to conceal from myself that we are experiencing a great social and political calamity (ap- plause). I acknowledge _that under eome conditions and even general conditions, emigration is the safety valve of a people. But, gentlemen, there is a difrer- ence between blood-letting and hemorrhage. What I sea in Ireland is not the scientific depletion which reanimates health and gives fresh vigour to the con^ solution, but a wasting away of nature, which I thin1- oaght to be stanched, &nd the political styptic that is required in the circumstances it is the duty of states- men to discover (loud cheers). I myeelf will never espport measurce, however plausible in theory, which may violate the great principles of political science • p a! ».;eause 1 know these principles can never be outra^d w^himpunity. Notwithstanding, I hope that the existing Government may ffcd means of int-odneW Swhich wiilVa?60^0?0l^d' £ WEsinLniitStt0! I £ tl0K- Gentlemen. 1 ,v„+sV' ° i 9 rate of interest was not dip tress- ing toe orade or our county town but although I have beono-ily a very jew minutes within ifca bo'-de^ I have already received a communication upon the subject Bank Rate of Interest. The right hon. gentleman, in commenting UD0P trade, s^d: I regret very much that at the moment the rate of interest in this countrv is sa biX Bat when l am told that it only requires I word frSm fcne Chancehor ot the Exchequer to absolve trade from sol these burdens, I regret also to say that my pore-s have been, I feel, unnecessarily magnified It is no more in the power of the Chancellor 0f the Excb.equeI: to regulate the rate of .interest than "it is to reguS the direction pi the winds (laughter 9nd applause)" Mr. Disraeli tnen went on to state the resets whVh m ail countries, govern tho rate of interest, and' th«n turned his attention to Reform. iB a said the right hon. gentleman, f,0 I am sorry to say, does not appear to be so popular with Englishmen as it once was, and that is the improvement of the representation of the people, aa proposed by measures which generally go under the name-though very erroneously—of Parliamentary Re- form Bills (laughter and applause). I hear very often, or perhaps I should say I read very often, that the subject of Parliamentary Reform is the great difficulty of the present Ministry, and wiH be their stuatbling- block. I am quite of a different opinion (laughter), £ 0\?° ^^en^ty in the subject at all, and if we stumble, rest assured we shall not stumble over the subject of Parliamentary Reform (hear, hear, and cheers). If Parliamentary Reform is to be dealt with, I consider the. present Government have as good a right to deal with it as any body of statesmen in ex. istence (laughter and cheers). The great Reform Bill of 1832 was mainly devised by Lord Darby, and was entirely carried by his energy; and, with regard to the only measure since the great Reform Bill on the subject of Parliamentary Reform ever mentioned with respect why I myself brought it in (laughter). I have seen this during the recent campaign in the House of Commons that_every division that took place, and every etronp manifestation of opinion which was expressed ratified the principle upon which the bill of 1859 was'founded (hear, hear). And, night after night, sitting in that house opposite to me, distinguished Liberals of all | hues, and scarcely with one exception, ro«a, and in a j tone of courteous penitence publicly avowed how much they regretted they had voted against the bill of 1859 (laughter). Gentlemen, I want to know under such | circumstances what is to prevent us, if the onestion is i to be dealt with, dealing with it in aa efficient a manner as any other body of public men. TVe must understand it, or, at least, we 'understand it bettor than several who have dealt with it. I cannot, there- fore, at all agree that the subject- of Parliamentary Re- form will be a source of trouble to the present Ministry, or that it will be one of the causes ox their downfall, if it ever occur (loud laughter and cheers). Having said this, I frankly tell you that I am not going to give any pledge on tho part of her Majesty's Government that when Parliament meets next year we are going to deal with the question of Parliamentary Reform. We hold ourselves perfectly frte to do that vraieh is best for the country. I see no downcast or disconsolate faces iu consequence of tha announce- ment (laughter and cheers). At the E&me time, it is my duty to assure you that if we do deal with the subject at any time, we shall deal with it in the spirit of the English constitution (cheers). We shall not attempt to remodel the insti- tutions of the country upon any foreign type whatever, whether it be American or whether it be French (cheers), I attribute the failure of the late Govern- ment in dealing with this subject to the confusion of ideas which prevailed amossr&t them upon the very principles on which they ought to legislate. It was impossible clearly to understand whether their measure wa-s founded on the rights of man or the rights of numbers. We who oppose their views do not recognise that the rights of man should prevail in our legislation, or that a numerical majority should dictate to an ancient nation of various political orders and classes like the present (cheers). What we want to see is, whenever any increase in the electoral con- stituency of this country takes place, that it should take place in uaimn with the constitution cf the country (cheers). What we wish to see is that the electoral power should be deposited with the best men of all classes (renewed cheers), and that ia the principle upon which, if called upon, we shall propose to legislate (cheers). Many subjects have beea for- gotten _in that factious state of political excitement which it has been the interest of some individuals to stimulate of late years in this country (cheers), and there i-re scveral questians which califor our utmost instant at- tention when Parliament again meets for business. The revelatiens respecting the Poor-law Board in London have called forth a feelingoftinivercal horror. There ere also questions connected with the administration of the law, such as tha law of bankruptcy, that cannot be any longer delayed, but which must fee dealt with in a large and complete spirit (cheers). Other matters also there are of a similar nature which require im. mediate attention. My opinion is that if Parliament gives its attention to these questions it will lay some foundation to the claim of the respect of the country (cheers). I am far from wishing that its time should be^ employed in mere discussions as to the best principles upon whieh political power should be dis- tributed in this country, unless those who undertake the ofnee can come forward under the certainty that they can carry a measure whieh will give satisfaction, to men of a temperate asd rational spirit, and which may strengthen the existing interests of the country (cheers). We are sometimes taunted with not having a policy. Persons who say that aie generally eccentric individuals (laughter), who are peculiarly in- terested in seme particular fantastic scheme in which they think are involved and invested all the causes of national prosperity and popular great. ness (cheers). Gentlemen, we do not pretead to have a policy, if that is a definition of a policy. But our policy to cur minds, is definite and distinct; it is to uphold our #constitution in Church and State (cheers). It is to bring in all those measures and to pursue in every respect that policy which will secure to this country the continuance of prosperity and peace (oheere). That appears to me to be the policy which ought to be pursued by an English Ministry; and if.it be pursued in spirit and in truth it will entitle them to, and will obtain for them, the confidence and the respect of their fellow-countrymen (cheers). Gentle- men, I thank you most earnestly for the grea.t honour which you have doss me this day in electing me again, jour member in the House of Commons, and thereby popularly ratifying the choiea at soar Sovereign (loud. cheers). On the motion cf the Chancellor of the Exchequer, a cordial vote of thanks was given to the High Sheriff for presiding, ^and tares hearty cheers having been, given for the right hon. gentleman himself, the assem- blage dispersed.