After a lucid statement of the circumstances under which he had been so suddenly and unexpectedly called to the helm of public affairs, the steps which he had taken to form a Government, and a frank avowal that he saw himself, for the present, environed with almost insuperable difficulties, arising principally out of the confused condition of parties in the House of Commons, he proceeded to indicate the principles on which he proposed to conduct the Government of the country. He commenced with his Foreign Policy, and there was perceptible a faint stir in the quarter where stood several ambassadors, and other members of the diplomatic body. As if anxious that all he said on this subject should be well understood by persons not perfectly familiar with the English language, he here spoke with even greater deliberation and distinctness than in any other part of his speech. He doubtless felt no little anxiety that his views of our foreign relations should be thoroughly appreciated by the representatives of foreign states, who would, of course, instantly, on quitting the House, forward accounts of what they had heard to their respective governments. One or two might have been seen taking a pencil note of particular expressions; and this might well be done; for he handled these critical topics with exquisite discretion and delicacy. His tone was cordially pacific, but also dignified and resolute. How would the Funds have fallen the next morning, had he here committed himself! The essence of what he said may be thus expressed--would that we had space to give, throughout, the speaker's own choice and nervous language!--The new Government cherished a profound anxiety to preserve the blessings of universal peace; and, said the Earl of Derby, "there is not one of my noble friends who will not consider that every effort should be made by the Government, with a view of averting _the remotest chance_," (the words in italics he uttered with marked emphasis,) "of incurring the miseries of war." Our demeanour towards foreign governments should be on all occasions frank and conciliatory; we should treat all nations alike, whether great or small, with due respect and consideration, equally in acts, in words, in conduct. Treaties should be observed with punctual fidelity, both as to letter and spirit. Every nation's independence should be held sacred, and on no pretence should we interfere with their internal and individual arrangements. Whatever form of government each thought proper to adopt, we had no right to manifest either sympathy or prejudice in respect of one more than another, "be it the most absolute despotism, limited monarchy, constitutional republic, or--if such a thing can be conceived to continue in existence--absolute Red Republicanism. That which is the choice of a nation, is that which it is the duty of the British Government to recognise." Whenever explanations, or redress,