The nation which is satisfied is lost. The nation which is not progressive is retrograding. "Rest and be thankful" is a motto which spells decay. The new world seems to possess more of this quality in its crude state, at any rate, than the old. In individuals it sometimes seems to be carried to excess. I do not by this mean the revolutions which periodically ravage the Southern and Central American Republics. I think more of the restless enterprise of the United States, with the devouring anxiety to improve existing machinery and existing methods, and the apparent impossibility of accumulating any fortune, however gigantic, which shall satisfy or be sufficient to allow of leisure and repose. There the disdain of finality, the anxiety for improving on the best seems almost a disease; but in Great Britain we can afford to catch the complaint, at any rate in a mitigated form, and give in exchange some of our own self-complacency, for complacency is a fatal gift. "What was good enough for my father is good enough for me" is a treasured English axiom which, if strictly carried out, would have kept us to wooden ploughs and water clocks. In these days we need to be inoculated with some of the nervous energy of the Americans.

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The Prime Minister <nowiki>[</nowiki>Ramsay MacDonald<nowiki>]</nowiki>...circulated pamphlets by the thousand in German against our contention. It is terrible to think that such a man should be in high office with the support of anybody in this country.

For it was not a union such as bound torn Poland to Russia, or uncrowned Venice to Austria. Such unions may enlarge a frontier; they do not create a nation. It added to both nations concerned power, wealth, and honour; it cost no drop of blood, no shadow of shame. As regarded Scotland, it was like nothing so much as a poor man marrying an heiress: mortifying to pride at first; irksome perhaps occasionally; in the long run harmonious because founded on interest; eventually it may be moulded into love by the beauty of its offspring.

The last piece of advice I shall venture to offer the Liberal party is this, that they shall not dissociate themselves, even indirectly or unconsciously, or by any careless words, from the new sentiment of Empire which occupies the nation. To many the word "Empire" is suspect as indicating aggression and greed and violence and the characteristics of other empires that the world has known; but the sentiment that is represented now by Empire in these islands has nothing of that in it. (Cheers.) It is a passion of affection and family feeling, of pride and of hopefulness; and the statesman, however great he may be, who dissociates himself from that feeling must not be surprised if the nation dissociates itself from him. (Cheers)

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...my watchword if I were in office at this moment would be summed up in one single word—the word "efficiency." (Cheers.) If we have not learned from this war that we have greatly lagged behind in efficiency we have learned nothing, and our treasure and our lives are thrown away unless we learn the lesson which the war has given us...last, and, perhaps, greatest of all, there comes a question that underlies the efficiency of our nation...I mean education (loud cheers), in which we are lagging sadly, and with which we shall have peacefully to fight other nations with weapons like the bow and arrow if we do not progress. We have nothing like a national system, but a great chaos of almost haphazard arrangement.

...what is the advice I have to offer you? the first head is this, that you have to clean your slate. (Cheers.) It is six years now since you were in office. It is 16 years since you were in anything like power, and it does seem to me that under these circumstances the primary duty of the Liberal party is to wipe its slate clean and consider very carefully what it is going to write on it in future (Cheers.)

The old Liberal party is drawing to its end. These last two elections, particularly the last, are the Mene Mene Tekel Upharsen of the Liberal banquet. The socialist does not indeed get a majority but while the two old parties are cutting each other's throats, he slips in and will continue to slip in and the encouragement to his party is great. The Liberal party will lose their industrial seats, while the Conservative party, the natural refuge in time of trouble, creams off all who will accept protection.

I used to dislike the Whigs but in my years of loneliness I have come to the conclusion that they governed England better than anybody else. They thought our their measures carefully and adapted them to their times and generation. They were not heroic but they were wise. In modern days we see much heroism but little wisdom.

It is by self-reliance, humanly speaking, by the independence which has been the motive and impelling force of our race, that the Scots have thriven in India and in Canada, in Australia and New Zealand, and even in England, where at different times they were banned. As things are we in Scotland do not take much or even ask much from the State, but the State invites us every day to lean upon it. I seem hear the wheedling and alluring whisper, "Sound you may be; we bid you be a cripple. Do you see? Be blind. Do you hear? Be deaf. Do you walk? Be not venturesome; here is a crutch for one arm. When you get accustomed to it you will soon want another, the sooner the better." The strongest man, if encouraged, may soon accustom himself to the methods of an invalid; he may train himself to totter or to be fed with a spoon. The ancient sculptors represent Hercules leaning on his club; our modern Hercules would have his club elongated and duplicated and resting under his arms. (Laughter.) The lesson of our Scottish teaching was "Level up"; the cry of modern civilization is "Level down; let the Government have a finger in every pie," probing, propping, disturbing. ("Hear, hear," and laughter.) Every day the area for initiative is being narrowed, every day the standing ground for self-reliance is being undermined, every day the public infringes, with the best intentions, no doubt, on the individual. The nation is being taken into custody by the State. Perhaps the current cannot now be stemmed; agitation or protest may be alike unavailing; the world rolls on, it may be part of its destiny, a necessary phase in its long evolution, a stage in its blind, toilsome progress to an invisible goal. I neither affirm nor deny. All in the long run is doubtless for the best; but, speaking as a Scotsman to Scotsmen, I plead for our historical character, for the maintenance of those sterling national qualities which have meant so much to Scotland in the past. (Cheers.)

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...it is a revolution without any mandate from the people. (Cheers.) Now, gentlemen, it is in the first place a revolution in fiscal methods...this Budget is introduced as a Liberal measure. If so, all I can say is that it is a new Liberalism and not the one that I have known and practised under more illustrious auspices than these. (Cheers.) Who was the greatest, not merely the greatest Liberal, but the greatest financier that this country has ever known? (A voice, "Gladstone.") I mean Mr. Gladstone. (Cheers.) With Sir Robert Peel—he, I think, occupied a position even higher than Sir Robert Peel—for boldness of imagination and scope of financing Mr. Gladstone ranks as the great financial authority of our time. (Cheers.) Now, we have in the Cabinet at this moment several colleagues, several ex-colleagues of mine, who served in the Cabinet with Mr. Gladstone...and I ask them, without a moment's fear or hesitation as to the answer that would follow if they gave it from their conscience, with what feelings would they approach Mr. Gladstone, were he Prime Minister and still living, with such a Budget as this? Mr. Gladstone would be 100 in December if he were alive; but, centenarian as he would be, I venture to say that he would make short work of the deputation of the Cabinet that waited on him with the measure, and they would soon find themselves on the stairs and not in the room. (Laughter and cheers.) In his eyes, and in my eyes, too, as a humble disciple, Liberalism and Liberty were cognate terms. They were twin-sisters. How does the Budget stand the test of Liberalism so understood and of Liberty as we have always comprehended it? This Budget seems to establish an inquisition, unknown previously in Great Britain, and a tyranny, I venture to say, unknown to mankind...I think my friends are moving on the path that leads to Socialism. How far they are advanced on that path I will not say, but on that path I, at any rate, cannot follow them an inch. (Loud cheers.) Any form of protection is an evil, but Socialism is the end of all, the negation of faith, of family, of prosperity, of the monarchy, of Empire. (Loud cheers.)