of February, the
Chancellor of the Exchequer laid before the Commons the budget for the
current year. It appears that the surplus of last year was L2,500,000,
half of which the Chancellor proposed to apply to the national debt. He
also proposed to abolish the window-tax, but to introduce a house-tax in
its stead. Several other modifications were made, but unfavorably
received; and on the 20th, on the question of a bill giving the
franchise to every householder paying L10 taxes, the Ministry was left
in a minority of 48 votes. After this reverse, the Cabinet, which for
some time previous had been rapidly losing ground, had no alternative
but to resign. It entered upon office in July, 1846, and consequently
ruled for nearly five years. The resignation took effect on Saturday,
Feb. 22d. The Queen at once accepted it, and sent for Lord Stanley, who
declined undertaking the construction of a new Government. Her Majesty
then returned to Lord John Russell, who tried unsuccessfully to induce
Sir James Graham to enter the Ministry. Lord Aberdeen was then summoned
and Lord Stanley a second time, but no arrangement could be made.
Finally, a meeting of the resigned Ministry was held on the 28th, and it
was rumored that a new Cabinet would be formed from the old one,
substituting Sir James Graham in the place of Lord John Russell. Another
report is, that the Queen intends to advise with the Duke of Wellington,
in relation to the crisis.

During this interregnum, very little has been done in Parliament. On a
motion of D'Israeli, involving the principle of free trade, the
Government only carried its point by a majority of 14 in a full House.
The House of Lords has rejected the bill allowing marriage with a
deceased wife's sister, its principal opponents being the Bishops, who
resisted it on religious grounds. The anti-papal agitation is still kept
up, but in a less violent form. The great Crystal Palace in Hyde Park is
now completed, and the throng of visitors is very great. Contributions
are continually arriving from all quarters of the world.

In France the President's influence appears to be on the decline. Having
sent into the National Assembly his demand for a donation of $360,000 in
addition to the salary provided for him in the Constitution, it was lost
after a sharp debate, by a majority of 102. A national subscription to
relieve the President from his pecuniary embarrassments, was proposed,
but this he declined, preferring