Footnote 1: [Differences had arisen between the British and the American Governments in consequence of the enlistment of American citizens in the British army during the war, and also with reference to the British possessions in Central America.] _February 7th._--Nothing can be more extraordinary than the lull here, after so much sound and fury, while the negotiations and question of peace or war are pending. There is evidently a complete acquiescence in the coming peace, though if the terms are not as stringent as people expect, there will be a great deal of grumbling and abuse of the Government. The case with America looks bad, but nobody can seriously believe that war between the two countries can possibly arise out of such questions as those now pending. It will probably end in the return of Crampton, and the return of Buchanan, suspension of diplomatic relations for a time, then fresh negotiations and a reconciliation, but no war. [Sidenote: THE LIFE PEERAGE QUESTION.] _February 9th._--The debate in the House of Lords on the Wensleydale Peerage was interesting but inconclusive. Lyndhurst made, as usual, a wonderful speech for his age. He contrived with much dexterity to avoid the question of legality, which he evidently thought he could not disprove; Campbell and St. Leonards boldly pronounced it illegal; Brougham admitted the legality; all the lawyers but the Chancellor are dead against the Life Peerage. Out of the House, Lushington is clear for it; Pemberton Leigh against; both of them have been offered and have refused peerages. The result appears to be that the patent is not illegal, but that there was no sufficient cause, and therefore that it was a great folly to deviate from the usual course in Parke's case. It is awkward, and both the Opposition and the Government seem very much puzzled what to do. The best course on the whole seems to be (and it probably will so end) to confer on the Baron an hereditary peerage, and let the question of life peers stand over for the present, to be better considered and discussed hereafter when circumstances may require such a measure. Palmerston made a very good speech last night on the American questions, judicious and becoming, and it was very well received. According to present appearances the Government is in no danger of being turned out, and if they make a peace which satisfies, and bring in and pass some good measures, they may actually become strong.