_February 3rd._--The Directors have got Tom Baring and Lord Grey to present their petition in the two Houses, and they mean to adopt the moderate and judicious course of not agitating any further, but trust to the course of events, which is now turning in their favour, and to ask for delay and a Committee. Graham, acting, I believe, independently, means to move for a Committee. John Russell intimated to him that he did not think he should support such a motion, but he has not finally determined what to do, and I rather expect he will end in voting for it. Palmerston's friends still tell him that his name is all powerful, and that he is sure of carrying through the House of Commons whatever he proposes, if the House thinks there is any possibility of a defeat leading to his resignation, and such is evidently his own opinion. In a Committee on Indian affairs and the intended bill, at which Bethell was present, on some objection or possible objection being suggested by one of the members, Palmerston said in his usual jaunty way, 'Oh, they will fall in love with our bill when they see it;' when Bethell, in his niminy-piminy manner and simper, said, 'Oh, my dear Lord!' Granville, who told me, says it was very funny. They all seem conscious of the diminution of Palmerston's energy and power. He is always asleep, both in the Cabinet and in the House of Commons, where he endeavours to conceal it by wearing his hat over his eyes. Clarendon made me laugh heartily the other day at his account of the Cabinet, where one half of them seem to be almost always asleep, the first to be off being Lansdowne, closely followed by Palmerston and Charles Wood. I remember his giving me a very droll account of Melbourne's Cabinet, and of the drowsiness which used to reign there, more particularly with Melbourne himself.