4/4 POLITICAL CORRESPONDENCE. [1826. 



whether ministers will have nerves to face the crisis 

 that must be produced, by establishing our circulation 

 on a real basis of cash payments, at which, notwith- 

 standing all our boasts, we never yet have arrived ; or 

 whether they will tide on by expedients, which must 

 end in another Bank Restriction Act. The latter, for 

 innumerable reasons, seems the most probable ; and 

 the issue of 1 and 2 notes by the Bank seems a 

 pretty direct step towards it. 



" The death of Alexander seems Jikely to increase 

 the alarm. Was it according to the ' maniere d vous' 

 of Orloff \ "\Vlio is to be his successor ? Whether 

 Constantino or Nicholas, is it likely that he will risk 

 popularity with the army by not attacking Turkey \ 

 In that case, shall we have another Oczakoff arma- 

 ment ? Will the present difficulties make ministers 

 pacific, or will they see in a war a relief for their 

 immediate embarrassment, by its furnishing a pretence 

 for shutting up . . . * 



"As to what you say about Ireland, I can only 

 repeat my former opinion, that it is best for us not to 

 advise at all. But if I were bound to give an opinion, 

 it would be with Tierney and Althorpe. It may be 

 very convenient to us to have no Catholic question, 

 but is it equally good for the Irish ? Have they ever 

 got anything except what has been extorted in the 

 hour of distress ? Is it not, then, their interest to 

 keep alive and inflame a spirit of discontent for that 

 season? If they are quiet, will their adversaries be so? 

 The contrary is pretty evident from what is now going 

 on with a view to the approaching elections, unless 

 these distresses produce a change of conduct. Whether 



* Illegible. 



