The General Election—'An old man in a hurry'—Birmingham—Triumph of the Unionist party—Formation of Lord Salisbury's second Administration—The lead in the House of Commons—Chancellor of the Exchequer—The short session—Lord Randolph as leader—Conduct of public business—Correspondence with Lord Hartington—End of the session—Golden opinions—Foreign affairs—A grave divergence—Eastern policy—The Dartford programme—'Mr. Spencer's journey'—Bradford—'The Grand Young Man' 115 CHAPTER XV. 1886 THE CHANCELLOR OF THE EXCHEQUER
At the Treasury—Lord Randolph as an official—Secret Service money—The Metropolitan coal and wine dues—Preparation of the Budget—Democratic finance—The death duties—The inhabited house tax—New stamp duties—Horses, cartridges and theatre tickets—The Sinking Fund—Large reductions of taxation—A fivepenny income tax—The means for Local Government—The Budget in the Cabinet—A silence 179 CHAPTER XVI. 1886 RESIGNATION
Lord Randolph Churchill's resignation announced—Consideration of rival forces and principles in the Conservative party—The conflict in the Cabinet—Various differences—Retrenchment—The Army Estimates—The Prime Minister's choice—Windsor Castle—Letter of Resignation—Lord Salisbury's reply—Publication of the news—General reflections thereon 213 CHAPTER XVII. 1887 THE TURN OF THE TIDE
A private member—Mr. Chamberlain's letters—Outcry against Lord Randolph Churchill—Lord Salisbury and Lord Hartington—Failure of a coalition—Protracted Cabinet crisis—A New Year's Day letter—Explanation to the Queen—Mr. Jennings—Mr. Goschen—Death of Lord Iddesleigh—The Government reconstituted—Final correspondence with Lord Salisbury—The two courses—Meeting of Parliament—Lord Randolph's statement—Algiers and Italy—Public results of Lord Randolph's resignation—Displeasure of the Conservative party 251 CHAPTER XVIII. 1887 ECONOMY
Difficulties of an ex-Minister—Lord Randolph's course—Mr. Goschen's Budget—The Army and Navy Committee—Economy and efficiency—Departmental mismanagement—Wolverhampton speech—The Hartington Commission—Effect of Lord Randolph's agitation—Lord Randolph abandons Fair Trade 302 CHAPTER XIX. 1887-1888 THE NATIONAL PARTY
Ireland still—The Liberal Unionists—Coercion—Lord Randolph Churchill and Mr. Chamberlain—Dream of a central party—Difficulties of co-operation—A severance—Correspondence with Lord Hartington—Weakness of the Government—Irish educational schemes—Lord Randolph in Russia—His conversation with the Czar 334 CHAPTER XX. 1888-1889 CROSS CURRENTS