_London, March 16th, 1849._--On Thursday in last week Mr. Disraeli made his promised display in favour of the landed interest. His speech was vehemently praised by the Tories, but regarded with very different opinions by different people; on the whole it was not much admired. The night before last, the debate having been adjourned for several days, Charles Wood answered it in one of the best speeches that has been heard for a long time, and by far the best he ever made. Peel warmly congratulated him, and he told Ellice it was not merely a good, it was a great speech. This has been very useful to the Government as well as to the Chancellor of the Exchequer himself, and both required something of credit. The Government are (as heretofore) hampered with measures which they have brought forward with very doubtful means of being able to carry them. The Rate in Aid and the Navigation Laws are both in jeopardy, though this time by no fault of the Government, who have done all they could to pass both. It is a state of things full of difficulty and uncertainty. Every party is strong enough to thwart and embarrass its opponents, and to obstruct and damage measures it dislikes, and none is strong enough to have its own way, and carry matters with a high hand. All this was foreseen as the inevitable result of the Reform Bill, but so many years elapsed during which peculiar circumstances prevented the actual occurrence of the result, that people forgot the prediction, and everybody fancied matters were to be carried on exactly as they used to be before the Reform Bill had destroyed the machinery of rotten boroughs, and let in a flood of popular influence. [Sidenote: A CLOUD IN THE EAST.]