But while, to the immigrant, entry to this country was admission to privileges and opportunities eagerly sought, the impact upon the existing population was very different. For reasons which they could not comprehend, and in pursuance of a decision by default, on which they were never consulted, they found themselves made strangers in their own country.

You have never expressed any decided political opinions, and indeed I do not know if or how far you assent to the proposition that almost unlimited sacrifices of individual life and happiness are worth while to preserve the unique structure of power of which the keystone (the only conceivable and indispensable keystone) is the English Crown. I for my part find it the nearest thing in the world to an absolute (as opposed to a relative) value: it is like the outer circle that bound my universe, so that I cannot conceive anything beyond it.

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The Labour Party, we all know, have fallen head over heels in love with science. The very mention of automation or computers brings a gleam into their eyes and a glow to their cheeks. They promise to favour automative re-equipment and computerisation. The irony is that these same people are dedicated to destroying the largest and most wonderful computer the world has ever known. This is the computer into which are fed the whole time millions of facts not only from all over this country but from all round the globe. The answers tumble out of it in an unending stream: it tells us all the time what it is most advantageous to import or export; it tells us what the relative benefits are of the imported article and the "home-produced substitute"; it tell us what can be produced "economically and competitively" and in what quantity and where. This wonderful silent mechanism—dare I say, this "automative" mechanism?—of the market the Labour Party want to smash, in order to install in its place—what? The pathetic figure of a President of the Board of Trade going through the old Trade Returns with his officials and trying to reproduce—no, to improve upon—the result of millions of acts of judgment made continuously throughout the economy by those who, in total, have available far more data than the Board of Trade ever dreamt of.

Wages, profits, prices are determined, always have been determined, and always will be determined until we go Communist, by the market—by supply and demand working through the market. While we tie ourselves into knots trying to invent non-market criteria for our commissions to use, the market is there, noiselessly, efficiently, irresistibly doing the job for us all the time. Irresistibly—yes, and there's the rub. For there is one thing outside the market in a modern economy, and that is money itself. Governments can and do satisfy the demand for money, raise and lower the supply of money. In short, governments have the power to control money, which is so largely their own creation. If governments allow monetary demand to increase faster than productivity, the market will not stop the process, because it cannot stop it. The market will simply go on determining wages, profits and prices in ever higher monetary terms—until something busts.

The few Roman Catholics who serve in the [Ulster Defence] regiment today are very brave men indeed. They do so at the risk of their lives in a way that their colleagues do not. I am proud to have some of those men in my constituency and to know them personally.

Then, about the same time, there was the detonation of Sartor Resartus... It was not only the revelation of Carlyle; it was headlong precipitation into the ocean of German reading and German thinking, where I was destined to voyage long after romantic and uncritical enthusiasm had perished for ever with the rise of Nazism... The happiest and most glorious hours of my life with books—confess it I must—have been with German books... there was Schopenhauer, carried up and down daily for months on the Sydney trams. There was Lessing, Hölderlin even; above all, and above all, there was Goethe. Was, and still is; for a spare 10s. note is as likely to this day to be exchanged for a volume of Goethe as for anything else that sits on a book-seller's shelves.

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There is the guilty knowledge that a fall in the rate of inflation must be accompanied by a rise in the rate of unemployment and that a sharp fall from a high rate of inflation must have severe consequences, which are inescapable. This is because an economy geared to inflation at 25 per cent per annum has to undergo a terrific readjustment to change to expectation of only 15 per cent or 10 per cent per annum inflation. Since inflation cannot go on up for ever, this prospect is inescapable.

Opinion has been right to fasten upon sovereignty as the central issue. Either British entry is a declaration of intent to surrender this country's sovereignty, stage by stage, in all that matters as a nation, and makes a nation, or else it is an empty gesture, disgraceful in its hollowness alike to those who proffer and to whose who accept it. The superior people laugh at those who talk about losing our Queen and our Monarchy... The Queen is the Queen in Parliament, as truly today as when her predecessor, Tudor Henry, observed that ‘we are nowhere so high in our estate royal as in this Our High Court of Parliament’. The question which the people of this country will have proposed to them is: will you, or will you not, continue to be governed by the Queen in Parliament? It is no less than that, and they have understood it.

Though legend relates otherwise, I would not have chosen, if I could have avoided it, to become the eponymous exponent of the conviction that by no contrivance can the prospective size and distribution of our population of 'New Commonwealth ethnic origin'...prove otherwise than destructive of this nation. The basis of my conviction is neither genetic nor eugenic; it is not racial, because I can never understand what 'race' means and I have never arranged my fellow men on a scale of merit according to their origin. The basis is political. It is the belief that self-identification of each part with the whole is the one essential precondition of being a parliamentary nation, and that the massive shift in the composition of the population of the inner metropolis and of major towns and cities of England will produce, not fortuitously or avoidably, but by the sheer inevitabilities of human nature in society, ever increasing and more dangerous alienation.

The Government know perfectly well that, in order to cope with the rising inflation and disastrous trade balance, it is indispensable to budget for a severe increase in taxation and a further reduction in the rate of growth of public expenditure. They have the majority and the authority to do this now. They do not need an election in order to act in the national interest. Nor do they need an election to get the country back to full-time work. Neither the miners nor the other trade unions have broken the law or threatened to break it. There is nothing sacrosanct about stage 3 or the Government's interpretations of it. A settlement will have to be found in the mining industry – and in every other industry – which will get the necessary labour into the necessary jobs.

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The prospect of a Russian conquest of Western Europe is one for which history affords no material. The theory that the Russians have not advanced from the Elbe to the Atlantic because of the nuclear deterrent is not more convincing than the theory that they have not done so because they do not want to do so and have never envisaged, unless perhaps in terms of world revolution, a Russian hegemony in Western Europe... Of all the nations of Europe, Britain and Russia are the only ones, though for opposite reasons, which have this thing in common: that they can be defeated in the decisive land battle and still survive. This characteristic, which Russia owes to her immensity, Britain owes to her moat.

I [also] know that, on my deathbed, I shall still be believing with one part of my brain that somewhere on every ocean of the world there is a grey, grey ship with three funnels and sixteen-inch guns which can blow out of the water any other navy which is likely to face it. I know it is not so. Indeed, I realised at a relatively early age that it is not so. But that factor – that emotional factor... will not die until I, the carrier of it, am dead.

We must judge ourselves, but we may not judge others, even though I find it difficult to understand how those who argued, as we did in the last Parliament, against something essentially indistinguishable from this Bill, who denounced it in principle and who forswore anything of the sort when they presented themselves to the electorate, can support it now. Still, we must all answer ourselves. Therefore, I answer the question now, as I shall in the Lobby tonight, by saying that for myself I can not.

There is no possibility of arguing that the present composition of the House of Lords can be justified either by logic or by reference to any preconceived constitutional theory. It is the result of a long, even a tortuous, process of historical evolution. Its authority rests upon the acceptance of the result, handed down to our time, of that historical process. It is the authority of acceptance, the authority of what Burke called "prescription". The House of Lords shares that characteristic with many of our most cherished and important institutions. Trial by jury, for example, is not to be justified in logic; it does not rest upon statute; it came to us by a strange historical evolution out of the sworn witnesses of a neighbourhood. Neither logic nor statute nor theory is a basis of that other hereditary institution by which it comes about that a young woman holds sway over countless millions. The authority of this House itself does not, in the last resort, rest upon any logic in the principles upon which we are formed or elected: it rests upon the acceptance by the nation of an institution the history of which cannot be divorced or torn out of the context of the history of the nation itself.