Notwithstanding various rumours as to meditated organic changes, it was pretty evident that Ministers had no intention to undertake the conduct of a new Reform bill. Of all the men who ever attempted to ape the character of Peter the Hermit, Sir Joshua Walmsley is at once the dullest and the most self-sufficient. Any crusade, under the auspices of such a preacher, could not be otherwise than abortive: indeed, he failed signally in the first and easiest quality of an agitator—that of enlisting a considerable share of popular sympathy on his side. Nor was finance reform likely to be seriously taken up by the Whigs, inasmuch as one of the earliest effects of such a scheme would necessarily be the reduction of their official salaries. That is a point, however, which they cannot long hope to evade; and it will be forced upon them, sorely against their will, as the inevitable consequence of low prices. They must prepare themselves to submit to a reduction similar to that which has been practised upon the officials of the Great Western Railway, who are put upon a short allowance in consequence of “the reduced prices of the necessaries of life.” The rule admits of general application, and doubtless will be rigidly carried out in the highest as in the lowest places. At present we shall not discuss that matter: we merely refer to it as a sufficiently intelligible reason why financial reform formed no part of the programme of her Majesty’s Ministers. No man expected that it would do so. Apart from such topics as these, there was little to be looked for in the speech: and accordingly, when it appeared, the speech was as meagre and unsuggestive as such documents usually are. Nor should we have thought it necessary to make it the subject of comment, save for one passage, which may be said to contain its kernel, in so far as the prospects of the home population are concerned:— “Her Majesty has great satisfaction in congratulating you on the improved condition of commerce and manufactures. It is with regret that her Majesty has observed the complaints which, in many parts of the kingdom, have proceeded from the owners and occupiers of land. Her Majesty greatly laments that any portion of her subjects should be suffering distress; but it is a source of sincere gratification to her Majesty to witness the increased enjoyment of the necessaries and comforts of life which cheapness and plenty have bestowed upon the great body of her people.” Here there is no distinct admission of agricultural distress. Such distress may or may not exist: all that is known on the subject is, that complaints are made. But, supposing these complaints to be well founded, the great body of the people is reaping the benefit of that cheapness which is the cause of the distress of others. That is the language of the speech.