I regret very much...that the Government seem to ignore completely one of the most important elements in the defence of the realm, and that is the pr… - David Lloyd George

Toryism would confiscate, in the interests of a private monopoly, the produce of the industry, the toil, the capital, the risk and the effort of others. Socialism would also confiscate, in the interests of a State monopoly, the efforts of the individual. Liberalism stands for a free opportunity for the individual to do the best for himself and the nation.

Now, all we say is this: "In future you must pay one halfpenny in the pound on the real value of your land. In addition to that, if the value goes up, not owing to your efforts—if you spend money on improving it we will give you credit for it—but if it goes up owing to the industry and the energy of the people living in that locality, one-fifth of that increment shall in future be taken as a toll by the State".

The time has come for Liberalism to resume the leadership of progress—to lead away the masses from the chimeras of Karl Marx and the nightmares of Lenin, and to carry on the great task to which Gladstone and Bright devoted their noble lives.