With a criminal prodigality we had squandered the superior man-power that had been at our disposal. We had also weakened our resources and strengthen… - David Lloyd George

Industrial countries are...engaged in improving their machinery, in order to save labour and increase production... The moment peace is restored in Europe, and the exchanges are stabilised...[y]ou will then be face to face with the real rivalry and the competition... I fear that the period of depression is going to be prolonged... we are in for a long period of depression such as we have not seen in our lifetime.

We are wasting our Empire. It is the richest Empire in the world...but it is an undeveloped Empire... There is no party that has such interest in developing the Empire as the Liberal Party. The strength and unity of the Empire were due to Liberal ideals. But for Liberalism there would have been no Empire... The British Empire stands in the world for peace, for right, for freedom, for fair play. It is the great fair-play Empire of the world... It ought to be the special task of Liberalism to make this Empire stronger, and stronger, and stronger, because it is the hope of mankind today.

[T]he shielding of industries which have been demonstrated by the war to be essential to the very life of the nation. I remember when I was appointed Minister of Munitions I found there were industries essential to national defence which had been very largely captured by our enemies. ... [T]hese essential key industries shall be preserved after the war, not because we anticipate another war, but because we are less likely to have another war if they know that we are quite ready for any challenge on a just ground.