Members of all parties expressed similar opinions; and Mr.
Stewart finally withdrew his resolution.

On the establishment of the kingdom of Greece, Great Britain, France,
and Russia, had agreed by treaty to guarantee a loan of 60,000,000 of
francs for the use of the new monarchy. Two instalments of 20,000,000
each had been paid. Greece, on the other hand, had undertaken certain
obligations in relation to her revenue and its application; and Russia,
on the ground that these obligations had not been fulfilled, refused
to concur in raising the third instalment. Under these circumstances
ministers found it necessary to introduce a bill for authorising the
advance of the money by this country alone. Lord Palmerston made the
proposal, and it encountered considerable opposition even from the
ordinary supporters of government. The resolution, however, moved by
Lord Palmerston, authorising his majesty to guarantee the portion to
which this country was liable of the third and last instalment of the
loan to be advanced to the King of Greece, was carried by a majority of
eighty-one against forty. The bill founded on the resolution encountered
the same objections which had been raised to the resolution itself; but
it passed without any determined opposition. In the house of lords
the Duke of Wellington said, that while he admitted the measure was
necessary, he thought that the necessity was an unfortunate one, and
might have been avoided. It did not appear to him that proper measures
had been taken to obtain the concurrence of Russia. The first demand
made by Greece was for 3,000,000 francs; why was not an effort made to
obtain the consent of Russia to advance her share of this sum? Why was
Russia left out of that part of the negotiation? If Russia had been
called on for her portion, it would have amounted to nearly the sum
which this country was about to advance under existing circumstances;
and the consequence would have been this--that the three powers would
now be placed on the same footing. But how would it be hereafter?
Great Britain would be a creditor of Greece to the amount of 20,000,000
francs, with a claim on the resources of Greece, which must and would
be pressed, for the interest and sinking-fund of that amount of debt. On
the other side, Russia would have in hand the third part of 20,000,000
francs to issue to Greece whenever, and under whatever circumstances she
thought proper. France was placed in a similar situation