But this is not all. We have still to deal with the depreciation or diminished value of the farmers' fixed capital, invested in live stock, &c., which at the rate of 25 per cent, (a most moderate calculation, and below the mark in so far as Scotland is concerned,) shows a loss on £504,833,730 of £126,208,432 _additional_! We put forward the case of the farmers thus prominently, because, in addition to the great public wrong which has been done to them, they have serious reason to complain of the general apathy of the landlords. We do not allude to the part which the landowners took in 1846. We believe that the majority of them were sincerely disgusted by the conduct of the men who had climbed into office on their shoulders; and that they loathed and despised in their hearts the treachery of which they were made the tools. We know, moreover, that a great many of them abstained from taking part in the election of 1847, not being able to see their way through the political chaos in which we were then involved, and having, naturally enough, lost confidence in the probity of public men, and despairing of the remodelment of a strong constitutional party. Such things were, perhaps, inevitable; and it may be argued with much show of reason, that no better line of conduct was open to the landlords, and that they did wisely in reserving themselves for a more favourable opportunity, when experience, that stern and unfailing monitor, should have exposed to the Free-traders the falsity of their wild expectations. But it is impossible for them now to plead that the opportunity has not arrived. The experiment has been made, and has failed--failed utterly and entirely, if the practical refutation of the views advanced by all its leading advocates is to be considered as equivalent to failure. The current of reaction has set in strong and steady, not only in the counties, but in the towns; not only among those who, from their position, must be the earliest sufferers, but among those who are connected with the trade and general commerce of Britain. The disorganised party has rallied and is reformed under leaders of great talent, tried skill, and most assured loyalty and honour. How is it that, in this posture of affairs, any considerable section of the landlords is still hanging back? Why is it that they do not place themselves, as is their duty, at the head of their tenantry, and enforce and encourage those appeals to public justice, and to public policy, which are now making themselves heard in every quarter of the kingdom? We confess that we are at a loss to know why any apathy should be shown. The conduct of the tenantry towards the landlords has been generous and considerate in the extreme. They were invited, in no equivocal terms, to join their cause with that of the Free-traders and financial reformers; and they were promised, in that event, the cordial assistance of the latter towards the adjustment of