The invasion panic of 1853 was followed in 1854 by the Crimean War, and in opposing that war Cobden and Bright found themselves absolutely alone.
"The British nation," said Lord Palmerston, "is unanimous in this matter. I say unanimous, for I cannot reckon Cobden, Bright, and Co. for anything." His estimate was perfectly correct; Cobden and Bright had the whole world against them. The moral fortitude, like the political wisdom, of these two strong men, stands out with a splendour that already recalls the great historic types of statesmanship and patriotism.
In 1857, Cobden was compelled to retire for a time from politics. He vigorously opposed the Chinese War, and succeeded in defeating Lord Palmerston's Government in the House of Commons. Lord Palmerston, with his usual acuteness and courage, at once dissolved parliament, and in the General Election his victory was complete. The Manchester School was routed. Cobden, who contested Huddersfield, was heavily beaten; and at Manchester itself Bright was at the bottom of the poll. Cobden went to his home at Dunford, in Sussex, and remained there nearly two years. Once more he was afflicted with financial trouble. An unfortunate land speculation at Manchester, and certain investments in American railroads, had again brought him into difficulties, from which he was ultimately rescued by a munificent gift of £40,000 from subscribers whose names he never knew.
The General Election of 1859 was held while Cobden was absent in the United States, and on his return he found that he had been chosen member for Rochdale. To his surprise, he also received from his old enemy, Palmerston, an offer of the Presidency of the Board of Trade. Cobden, who had consistently refrained from accepting any office, courteously declined.
But he was none the less able to render a great service to the new Government. Mr. Bright, in a parliamentary speech, incidentally asked why, instead of lavishing the national substance in armaments, they did not go to the French Emperor and attempt to persuade him to allow his people to trade freely with ours. The idea of a commercial treaty occurred to M. Chevalier on reading the speech, and he wrote in this sense to Cobden, who was strongly impressed by the notion. He opened his mind to Gladstone, who was then Chancellor of the Exchequer; and, as the outcome, Cobden went to Paris in the autumn of 1859 as unofficial negotiator of a treaty.