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New Zealander, Volume 9, Issue 730, 13 April 1853, Page 3

(From tlie Correspondent of the " Straits Times.".) London, Dec. 24(h, 1832. Here we arc on Christmas Eve, not enjoying the holiday pleasures of the vacation, hut immersed in the deepest whirlpool of politics. This will he the husiest and soberest Christmas that our polilicans have known for many years, and there is some reason for their anxiety, seeing that the country, which just now needs especially a good and strong administration, is at present under a provisional Government. Lord Derhy and his colleagues have hcen defeated on their budget, and arc now only holding on until the opposition can form a Ministry, which the opposition, after six days of negotiation, have not yet quite succeeded in doing. The division which decided the fate of the Ministry took place on the 16th instant, or, to speak more accurately, on the morning of the 17th, the vote not heing taken till about halfpast 5 a.m. The budget had been discussed during four previous nights, and was more and more damaged with every handling. It suffered, at first, almost as much from its defenders as from its assailants. D'Jsraeli is the only good speaker on that side. His colleagues gavehim no assistance. They talked, but they would have done belter service by holding their tongues. Until tins important and testing debate took place, the public did not clearly know what a set of mere sticks and harmless automatons all the members of the Cabinet, or at least all those in (he Commons, except Disraeli, really were. He, indeed, on the closing night, made a remarkable speech, evincing talent enough to furnish half-a-dozen ordinary brains. But it also displayed an inordinate endowment of the faculties which phrenologists designate as eombativeness and destrucliveness. in fact he was in a terribly bad temper, and one lime fairly ran a-muck, slabbing at his opponents right and left. He said of Sir James Graham that " he did not so much respect him as he greatly regarded him ;" he told Sir Charles "Wood (who had been particularly severe upon the budget) that " petulance was net criticism, and insolence was not invective." He compared solemn Mr. Goulburn to " a weird sybil giving forth an oracle." Then he made the country gentlemen roar with laughter at some not over-retincd allusions. In short, he kept the house for three hours in a tumuli of excitement by a very brilliant, and powerful, and sarcastic speech, and sat down amid u deafening cheers" from his partisans. Mr. Gladstone rebuked him decorously, and replied to him very effectively. The division was taken nominally on (he houselax, but really on the whole financial scheme—and the voles were, for (he Government, 28G; against, 505; giving an adverse majority of 19. There was no absolute necessity for treating Ibis vote as one of want of confidence. The Ministry might have withdrawn as their predecessors had done. But (hey had quarrelled among themselves; and, besides, it was clear that they were not strong enough either in numbers or ability or intellect (o carry on Ihe Government. Accordingly, they announced (heir intention of resigning, and as (hey had been turned out by a combination of Liberals and Peebles, Ihe Queen, acting on. the constitutional system, sent for both the Marquis of Landsdownc, as aead of the Whig party, and Ihe Earl of Aberdeen as chief of the Peelites. The Marquis unfortunately was laid up \vi!h the gout, and Lord Aberdeen accordingly went to Osborne alone, and,.at Her Majesty's request, undertook to form a Ministry. After six days, he has not yet fully succeeded, although it is stated (his niormng (hat (he most important arrangements will probably be compleled to-day, and will be announced to Parliament next Tuesday. Lord John Russell is to be Foreign Sec-

retary, with the leadership of the House of Commons ; Lord Palmerslon, ironic Secrclary; the Duke of Newcastle, Colonial Secrclary ; and the Chancellorship of the Exchequer, the l'irst Lord of the Admiralty, and the Presidency of the Board of Control, arc (according to the Times) to he distributed between Sir James Graham, Sir C. Wood, and Mr. Gladstone, but in what manner is not yet definitely settled. This will certainly be a strong Ministry in point of talent and political influence, but it is certain that they will have to face an opppsilion very forraibleda in point of numbers, and likely to give them a great deal of trouble. One thing which damaged the late Ministry a great deal, and had, no doubt, something to do in bringing about their resignation, was the manner in which their Sccretary-al-War and ex-whipper-in, .Major Beresford, was mixed up with the bribery case at the election in the town of Derby. The select committee appointed to investigate the affair, brought in their report on the last night of the budget debate: they reported that there was no sufficient evidence to satisfy them that Major Beresford was privy to the scheme of bribery ; but they considered, nevertheless, that his letter to Mr. Frail (his election agent, whose confidential man was detected in bribing) u exhibited a reckless indifference, and disregard of consequences, which they could not too highly censure." After this report, Major Beresford had no option but to resign his oflice, which he did immediately. Unfit is generally thought that he was let off far 100 easily, and that the inquiry was purposely slurred over by the committee, with a view of screening him from a more serious penalty. Strange to say, although every other person concerned in the affair was summoned as a witness, (and there was some remarkably hard swearing the individual who actually furnished the money for the bribery, a Mr. Cox, of Derby, was not called. It is understood that the case will not be allowed to rest here,but will be further inTesiigatetl on the petition for ousting Mr. Horsfall, the member for Derby, who got his seal by these improper means. There is a great deal of bad feeling, just now in the political world. The Derbyites accuse the Whigs and Peclites of forming an unprincipled " coalition" to turn them out; and the others retort with charges of corruption and doubledealing. Mr. Gladstone, an amiable man, and personally- popular in the house, was grossly insulted by"some hot bloods at the Carlton Club the other day ; one graceless cub told him that he should be delighted to see a gallows erected opposite the club-honse, and all the Peclites hanged thereon. The affair has made a good deal of noise ; the few Peebles who continue to frequent Carlton Club are naturally in had odour with the Derbyite majority ; and the latter even talk of dissolving the club and reconstructing it in order to get rid of their unwelcome associates, most of whom, however, are old members. There is, moreover, a strong effort making by the same party to prevent Ihe re-election of Mr. Gladstone for the University of Oxford, in case of his taking office. The appointment of Sir Fleetwood Pellew to succeed Admiral Austen has been objected to, and on apparently good grounds. It appears that Sir Fleetwood entered the navy more than fifty years ago, and has not held a command afloat daring the last thirty-four years ; so that his knowledge of steam navigation must be very limited. The absurd system of appointing sexagenarian, and even septuagenarian, admirals and generals, for duties requiring great activity of body and alertness of mind is exciting a good deal of animadversion. Old General Godwin doing nothing at Burmah, and old Admiral Pellew helped him, will not afford a specimen of military efficiency likely to inspire our neighbours across the channel with any profound respect for our defensive resources. The speculation in gold mining shares has received a new incitement from the extraordinary luck of the Australian Agricultural Company. That Company owns a very extensive tract of land in New South Wales, which was graided to it many years ago for agricultural purposes. The Company's attempts in that line were not successful, and the value of the shares fell to a merely nominal amount. A gentleman of my acquaintance was offered, about three years ago, twenty of the shares for 207., or IZ. each, but declined the offer, as most persons would then have done. Extensive gold fields have just been discovered on the Company's land, and the shares have rapidly increased in value until they have been selling this week at 5007. and upwards. The twenty shares which my friend refused would now be worth about GOOOJ —-a large sum to slip so easily through a man's fingers. The consequence of this and similar events is that the mania for gold mining speculations is now very violent. A few lucky stockjobbers will make their fortunes by it, and a great many persons will be relieved of that plethora of capital which financial writers consider so injurious. The Australian Boyal Mail Company is certainly very unfortunate. The Adelaide, a fine new "ship, was appointed to start on the srd instant, but not being quite ready, her departure was ultimately fixed for the Kith. She did not, however, get away till the 18th, and on the following day she put back in a leaky stale, something being wrong about the hose pipes and the caulking. The repairs are expected to occupy three or four days. The chairman ol the company, Mr. Hawes, has just resigned. The truth is, that for a steam company to avoid these mishaps, it must begin in a small way, like the " Peninsular and Oriental," and the " General Screw" Companies, and gradually extend its operations. In this way, the officers, crews, and other parties concerned, arc educated for their respective duties. The new Emperor of the French begins to find that neither the course of the empire nor that of " true love' is likely to run smooth with him. His senate, which has heretofore been so obsequious—and which even now has awarded to him the enormous income, or " dotation," of 23,000,000 of francs (1,000,000/.), has begun to exhibit some signs of independence, by objecting to the proposed alterations in Louis Napoleon's constitution, which would deprive the legislature of a small modicum of control still left to it over the national finances. The difficulty has been compromised for the present, the "Emperor" giving way a little ; but it shows how insecure is the basis of his despotism. Then the princess Carola of Vasa, who was to have been empress, and for whom a " household" was actually in preparation, has, at the command of her father, transferred her affections—or, what is more essential, her hand—to Prince Albert of Saxony. The Emperor is not likely to find a partner of princely lineage to share his ephemeral and blood-stained throne. His partisans, moreover, are quarrelling among themselves. The Ministers, Fould and Persigny, are said to have had a furious altercation in the presence of Louis Napoleon himself. This personage has tried again to induce some respectable politicians to enter his Cabinet, but in vain. He sent for M. de Bethmont, one of General Cavaignac's republican Ministers, and urged him, with his friends to take office, but one and all indignantly refused. The commercial difficulties between France and Belgium have been settled for a time by the renewal of the former treaty, which expired a few months ago.