gn. As the Queen must consider the enclosed letter as deficient
in it, she thinks Lord John Russell might probably wish to reconsider
it, and asks Lord Palmerston to return it to him with that view.

That Lord Palmerston may be acquainted with the course the
correspondence has taken, the Queen encloses the two preceding
letters.

[Footnote 8: The letter ran:--"Lord John Russell unfortunately
does not partake your Majesty's opinions in regard to Italy,
and he is unwilling to obtrude on your Majesty unnecessary
statements of his views.... Whatever may be the consequence,
the liberation of the Italian people from a foreign yoke
is, in the eyes of Lord Palmerston and Lord John Russell, an
increase of freedom and happiness at which as well-wishers to
mankind they cannot but rejoice."]

[Pageheading: MR GLADSTONE'S BUDGET]

_Viscount Palmerston to Queen Victoria._

94 PICCADILLY, _10th February 1860_.

Viscount Palmerston presents his humble duty to your Majesty, and
begs to state that Mr Gladstone made this afternoon his financial
statement.[9] His speech lasted three hours, from five to eight, and
was admirable, detailed, clear, comprehensive and eloquent; and he did
not appear to be fatigued by the effort.[10] The statement was well
received by the House, and though parts of the arrangement may, and no
doubt will, be disputed and attacked as the various measures of which
the arrangement is composed, pass through the House, there seems to
be a fair probability that the Government will not sustain any serious
defeat upon any part of the arrangement. The scheme is too extensive
and complicated to admit of an abstract of it being given to your
Majesty in this Report; but no doubt a condensed summary of it will be
given in the newspapers of to-morrow.

[Footnote 9: The Budget of 1860 was contemporaneous with
the commercial treaty with France negotiated by Mr Cobden,
reducing _inter alia_ the import duties on French wine and
brandy, and English coal, flax, and pig-iron. Mr Gladstone
abolished the duties on a large number of imports, and
proposed to repeal that on paper (regarded not only as a means
for the diffusion of knowledge, but a commodity in various
industries).]

[Footnote 10: This was all the more remarkable, as the Budget
had been postponed owing to his illness.]

_Queen Victoria to Viscount Palmerston._

WINDSOR CASTLE,