On the disruption of the Whig administration in 1851 under Lord John Russell, who was not strong enough for such unsettled times, Lord Derby became premier, and Disraeli took office under him as chancellor of the exchequer,—a post which he held for only a short time, the “coalition cabinet” under Lord Aberdeen having succeeded that of Lord Derby, keeping office during the Crimean war, and leaving the Tories out in the cold until 1858.
Of this famous coalition ministry Mr. Gladstone naturally became chancellor of the exchequer, having exhibited remarkable financial ability in demolishing the arguments of Disraeli when he introduced his budget as chancellor in 1851; but although the rivalry between the two great men began about this time, neither of them had reached the lofty position which they were destined to attain. They both held subordinate posts. The prime minister was the Earl of Aberdeen; but Lord Palmerston was the commanding genius of the cabinet, controlling as foreign minister the diplomacy of the country in stormy times. He was experienced, versatile, liberal, popular, and ready in debate. His foreign policy was vigorous and aggressive, raising England in the estimation of foreigners, and making her the most formidable Power in Europe. His diplomatic and administrative talents were equally remarkable, so that he held office of some kind in every successive administration but one for fifty years. He was secretary-at-war as far back as the contest with Napoleon, and foreign secretary in 1830 during the administration of Lord Grey. His official life may almost be said to have been passed in the Foreign Office; he was acquainted with all its details, and as indefatigable in business as he was witty in society, to the pleasures of which he was unusually devoted. He checked the ambition of France in 1840 on the Eastern question, and brought about the cordial alliance between France and England in the Crimean war.