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 mismanagement, even if they had contemplated the plan of operations which led ultimately to the successful enterprize on which we are now justly congratulating ourselves, they could not, they did not act upon them. No, it was left for the present Government, under the auspices of him who told us that "England could not carry on a little war," amidst all the embarrassments and dangers which they had just inherited from their predecessors, to send out the peremptory instructions which have been so ably acted upon; and above all, a naval and military force fully adequate for the occasion. This done, China succumbed; and we understand that poor Lord Palmerston is pluming himself on being able to produce, next session, a despatch which he issued to Sir Henry Pottinger, chalking out the very line of operations which was adopted with such supreme success. We, of course, cannot officially know that such is the fact: but even admitting it, why did not Lord Palmerston do this far earlier? What excuse can be offered for this vacillation and procrastination in an affair of such vast urgency? "We had not the means to equip a sufficient force," his lordship may reply, in his usual strain of bitter flippancy. And why had he not the means? The extravagance and profligacy of his Government had deprived him of them; his exchequer was empty; and had he, or they, the boldness or the virtue to propose what has been demonstrated to have been the only mode of meeting the exigency, an income-tax? In vain, therefore, may his lordship and his friends declaim in the ensuing session, and with our bombardment of China in his ears, say "that is my thunder." They will be only laughed at and despised. No, no, Lord Palmerston; palmam qui meruit, ferat. Let the nation decide.

The late military and naval proceedings against China, reflect permanent glory upon the arms of England, naval and military, and we earnestly hope—we confidently believe—that those concerned in them will soon receive substantial and enduring marks of national gratitude. But what is the real value, what will be the consequences, of our victory? We are very anxious to take the earliest opportunity of placing on record our views upon this all-important subject, with a view of moderating the expectations, and allaying the excitement, which prevails upon the subject of the commercial advantages anticipated to follow immediately on the final ratification of the treaty. Let us take a sober and common-sense view of the affair, and reason thus:—

First of all, we must bear in mind the long-cherished hatred borne by the Emperor and his court to all barbarians, particularly towards us; exasperated now, doubtless, to a pitch of extreme intensity and malignity, by the signal humiliation and injury we have inflicted upon him. Can we expect that this will be suddenly and permanently altered? It is not in human nature, which is the same every where. With the thunder of our cannon in his ears, the supplies of his whole empire at our immediate mercy, his armies scattered like dust, and his forts and walled cities crumbling to pieces under our artillery, the necessity of his position forced him to buy peace on almost any terms. We have exacted from him what is at variance with the fixed Chinese policy of ages. The more he, by and by, reflects upon it, in the absence of our awe-inspiring military and naval forces, the more galling and intolerable will become the contemplation of what he has been compelled to concede and sacrifice. Who knows what artful falsehoods may not be perseveringly poured into his ear, day after day, month after month, year after year, to our disadvantage and disparagement in his estimation? He may not dare, perhaps, to resort to open hostility, directly to provoke our tremendous vengeance; but those best acquainted with China, know what countless facilities exist for his doing indirectly what he dares not, or may choose not, to do openly. We are not without fear, from our knowledge of the Chinese character, and of their long-established mode of procedure, that every chicane and evasion will be resorted to, in order to neutralize and nullify, as far as possible, the commercial advantages which we have, at the cannon's mouth, extorted from them. A great deal, at all events, will depend on the skill, firmness, and vigilance, of the consuls to be appointed at the five opened ports of China. We rely, also, greatly on the