LORD DERBY'S RESIGNATION.

Auckland Star, Volume IX, Issue 2502, 1 April 1878, Page 2

LORD DERBY'S RESIGNATION.

[REUTERS special telegrams.]

Lord Derby, Minister for Foreign Affairs, has resigned. At a special cabinet meeting held to-day, to consider the Russian reply to British demands, Sir Stafford Northcote stated in the House ot Commons that the Russian reply has been received yesterday. It adhered substantially to previous declarations, to the effect that the Signatory Powers may raise such objections as they think fit, but Russia reserved full liberty either to accept or decline discussion. He also added that this virtually closed all further diplomatic correspondence on the subject. ENGLAND'S WARLIKE ATTITUDE. March 28, later. Lord Beaconsfield explained in the House of Lords that Earl Derby's resignation was in consequence of the warlike attitude which it would become necessary to assume. He also expressed a hope that now all Erobabilities of the assembling Congress ad ceased, and that they would be able to maintain the balance of power in the Mediterranean; and that the advice tendered by the Government to the Queen to call out all available reserves he thoroughly approved of. LORD SALISBURY SUCCEEDS LORD DERBY. March 29. Lord Salisbury succeeds Lord Derby. The Government policy is not aggressive, but to prepare for war, in the hope for peace. The Opposition was expected to resist the calling out of the reserves. The ascendency of the Premier in the Cabinet has caused a check. General Ignatieff is at Vienna.. Count Audrassay is attempting to reconcile England and Russia. The Bank of England has raised the official minimum to 3 per cent. There is a panic on stock exchange owing to the political outlook. Consuls are extremely depressed, 95£. (REUTERS SPECIAL CABLEGRAMS.) LONDON, March 28, 10 p.m. Earl Derby has resigned. He approved the policy of the Cabinet regarding the Congress, but not of calling out the reserves. Earl Beaconsfield defended this on the ground that the intended measures were necessary for the peace and security of the Empire. A Papal allocution approves the past Papal policy. LONDON, 30th. LONDON WOOL MARKET. The wool market resumed a calmer appearance. Prices received a temporary relapse. The series closes bout the sth of April. Wheat has advanced two shillings, owing to political agitation.