It is very needful that such matters should be considered at the present time—that sober-minded people, who must take a part in the approaching election, should thoroughly understand the responsibility which devolves upon them, and the consequences which may ensue from their committing an error of judgment. The influence of party watchwords, though materially lessened of late years, has not yet ceased to exist; and it is possible that some men may, through a terror of being charged with political inconsistency, actually commit themselves to principles which they hold in sincere abhorrence. Therefore it is necessary to look, not only to the past and present position of parties, but also to their future prospects and views, according to the support which may be accorded to them by the country at the general election. Let us suppose that, at the opening of the new Parliament, Lord Derby should be defeated by a vote of want of confidence. His resignation must follow as a matter of course, and then begins the strife. Past events render it perfectly clear that the old Whig Government cannot return to office, or, if it could do so, must act upon other principles than before. Lord John Russell’s resignation in February was an event which could not have been long postponed. His Cabinet was broken into divisions; it was unpopular out of doors; and his own conduct had, on various matters, been such as to engender general dissatisfaction. His Reform Bill was a measure which gave vast umbrage to the majority even of the urban electors. Its introduction was, perhaps, the most signal proof of his political weakness, and, we may add, of his ignorance of the state of popular feeling. No matter whether it was intended to be carried or not, it remains, and ever will remain, an example of the length to which personal ambition may carry an unscrupulous Minister. Earl Grey’s administration of the Colonies has become a byword for imbecility, blundering, and disaster. The finances were not in much better hands. No movement was made by Sir Charles Wood towards the termination of the Income-Tax, nor had he even the practical ability to reimpose it upon an equitable basis. We do not allude to these things by way of criticism on the past—indeed it would be unnecessary to do so, as they are matters of common notoriety. We state them merely to show that the reconstruction of the Whig Government, out of old materials, and on old principles, is a thing impossible, and that the next professing Liberal Government must differ greatly in kind and character from any which has hitherto preceded it. Could it possibly be a moderate Government? Let us first consider that.