Not only the Radical party, (who must be looked upon as the chief supporters of such a Government,) but Lord John Russell and Sir James Graham, are pledged to the introduction of certain organic changes, differing only in degree. To suppose that any of them will adopt a less measure than that which they have advocated, is out of the question; and as the tendency of the movement has been, not from the Radicals to Lord John Russell, but from Lord John Russell to the Radicals, we may very naturally conclude that the result would be an approximation to the views of Mr Cobden. That gentleman, as we know, (for he does not scruple to tell us so in as many words,) has “ulterior objects” of his own, the time for developing which in safety has probably not yet arrived. We shall not inquire too curiously into the nature of those, being satisfied, as probably will be most of our readers who have watched the progress of the man, that they are not at all calculated to improve the stability of any of our institutions. We cannot, therefore, see what hopes can be entertained of the formation of a moderate Government, supposing Lord Derby’s to be overthrown; unless, instead of uniting with Mr Cobden, Lord John Russell could effect a union with some other political party. No such party exists. Unless we are much deceived, the majority of the followers of the late Sir Robert Peel, at least the majority of those who may be able to re-enter Parliament, are prepared to give their support and confidence to Lord Derby’s Administration. There may, no doubt, be exceptions. Sir James Graham and Mr Cardwell are clearly out of the Conservative ranks, and may enlist under any banner they choose. But as it is extremely problematical whether either of these gentlemen will obtain seats in the new House of Commons, their views are of little consequence. Other Obstructives, of whom there are a few, have no chance whatever of being returned; so that the construction of what we may term a moderate Liberal Government could not take place, from absolute want of material. Indeed, judging from the language lately employed by the knight of Netherby, we should say that moderation is as far from his thoughts as from those of the rankest Radical in Oldham.