27 JANUARY 1872, Page 2

Cortes on Thursday on the election of a Speaker, and

the Moderates, who are in power, were beaten by 171 to 120. S. Sagasta, the Premier, immediately resigned ; but the King, after consulting Marshal Serrano, declared that he would rather agree to a dissolu- tion. They accordingly dissolved the Cortes, amidst a scene of the wildest excitement, the 'Radicals declaring that the King had for- feited the throne by refusing to accept Radical Ministers, and that there was now no resource except the barricades.