whether it would be prudent for any member of Lord Derby's late
Government, with the support of those leaders who might very soon form
another administration, to urge upon Parliament any new pecuniary
burthen, nay, any new loan, in the face of a deficit. Would not this
really play into Gladstone's hands, and furnish him with a plausible
retaliation in case of attack on the side in which he is most
vulnerable, viz., the dealing with a deficit as if it were a surplus?
And again, would it be quite prudent in the coming Conservative
Chancellor of the Exchequer and his future colleagues to commit
themselves to a measure they might find it inconvenient to carry out
when in power?

"These are doubts that occur to me; and would be well weighed by Mr.
Disraeli--who might, perhaps, agree with me, that, on the whole, it
would be better that this very important question should be brought
before the House by some one not in the late Cabinet--some great
merchant, perhaps--some one, in short, who could not be supposed to
compromise or commit the future administrative policy of the party.

"I remain, however, of the same opinion, that aid to intercolonial
communication can be defended on Imperial grounds--and would in itself,
if not opposed on purely fiscal reasons, be a wise as well as generous
policy.

"I regret much that my absence from town prevents, my seeing Mr. Watkin
and profiting by the information, he could give me. I fear he will have
left London before I return to it. But I should be very glad if he
would write to me and acquaint me with the exact state of the case at
present--and the exact wishes and requests of the Colonists.