There is another little tax called the increment tax. For the future what will happen? We mean to value all the land in the kingdom. And here you can draw no distinction between agricultural land and other land, for the simple reason that East and West Ham was agricultural land a few years ago. And if land goes up in the future by hundreds and thousands an acre through the efforts of the community, the community will get 20 per cent. of that increment.

The Budget...is introduced not merely for the purpose of raising barren taxes, but taxes that are fertile, taxes that will bring forth fruit—the security of the country which is paramount in the minds of all. The provision for the aged and deserving poor—was it not time something was done? It is rather a shame for a rich country like ours—probably the richest in the world, if not the richest the world has ever seen—should allow those who have toiled all their days to end in penury and possibly starvation. It is rather hard that an old workman should have to find his way to the gates of the tomb, bleeding and footsore, through the brambles and thorns of poverty. We cut a new path for him—an easier one, a pleasanter one, through fields of waving corn. We are raising money to pay for the new road—aye, and to widen it, so that 200,000 paupers shall be able to join in the march. There are so many in the country blessed by Providence with great wealth, and if there are amongst them men who grudge out of their riches a fair contribution towards the less fortunate of their fellow-countrymen they are very shabby rich men.

But they say, "It is not so much the Dreadnoughts we object to, it is pensions". If they objected to pensions, why did they promise them? They won elections on the strength of their promises. It is true they never carried them out. Deception is always a pretty contemptible vice, but to deceive the poor is the meanest of all.

There have been two or three meetings held in the City of London...attended by the same class of people, but not ending up with a resolution promising to pay. On the contrary, we are spending the money, but they won't pay. What has happened since to alter their tone? Simply that we have sent in the bill. We started our four Dreadnoughts. They cost eight millions of money. We promised them four more; they cost another eight millions. Somebody has got to pay, and then these gentlemen say: "Perfectly true; somebody has got to pay, but we would rather that somebody were somebody else". We started building; we wanted money to pay for the building; so we sent the hat round. We sent it round amongst workmen, and the miners and weavers of Derbyshire and Yorkshire, and the Scotchmen of Dumfries, who, like all their countrymen, know the value of money, they all dropped in their coppers. We went round Belgravia, and there has been such a howl ever since that it has well-nigh deafened us.

I do not agree with you that we ought never to have introduced the land clauses in the fourth session. The Party had lost heart. On all hands I was told that enthusiasm had almost disappeared at meetings, and we wanted something to rouse the fighting spirit of our own forces. This the land proposals have undoubtedly succeeded in doing.

This, Mr. Emmot, is a war Budget. It is for raising money to wage implacable warfare against poverty and squalidness. I cannot help hoping and believing that before this generation has passed away, we shall have advanced a great step towards that good time, when poverty, and the wretchedness and human degradation which always follows in its camp, will be as remote to the people of this country as the wolves which once infested its forests.

We all value too highly the immunity which this country has so long enjoyed from the horrors of an invaded land to endanger it for lack of timely prevision. That immunity at its very lowest has been for generations, and still is, a great national asset. It has undoubtedly given us the tranquillity and the security which has enabled us to build up our great national wealth. It is an essential part of that wealth. At the highest it means an inviolable guarantee for our national freedom and independence... We do not intend to put in jeopardy the naval supremacy which is so essential not only to our national existence, but, in our judgment, to the vital interests of Western civilisation.

British Liberalism is not going to repeat the errors of Continental Liberalism. The fate of Continental Liberalism should warn them of that danger. It has been swept on one side before it had well begun its work, because it refused to adapt itself to new conditions. The Liberalism of the Continent concerned itself exclusively with mending and perfecting the machinery which was to grind corn for the people. It forgot that the people had to live whilst the process was going on, and people saw their lives pass away without anything being accomplished. But British Liberalism has been better advised. It has not abandoned the traditional ambition of the Liberal party to establish freedom and equality; but side by side with this effort it promotes measures for ameliorating the conditions of life for the multitude.

[T]he question of civil equality. We have not yet attained to it in this country—far from it. You will not have established it in this land until the child of the poorest parent shall have the same opportunity for receiving the best education as the child of the richest. ... It will never established so long as you have 500 men nominated by the lottery of birth to exercise the right of thwarting the wishes of the majority of 40 millions of their countrymen in the determination of the best way of governing the country.

Free Trade is a great pacificator. We have had many quarrels, many causes of quarrels, during the last fifty years, but we have not had a single war with any first-class Power. Free Trade is slowly but surely cleaving a path through the dense and dark thicket of armaments to the sunny land of brotherhood amongst nations.

[The House of Lords] is the right hon. Gentleman's poodle. It fetches and carries for him. It barks for him. It bites anybody that he sets it on to. And we are told that this is a great revising Chamber, the safeguard of liberty in the country. Talk about mockeries and shams. Was there ever such a sham as that?

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