[Lloyd George] said that Harding's speech on American naval aspirations made him feel that he would pawn his shirt rather than allow America to domin… - David Lloyd George

The hope of the future would be found in a party of sane progress. The present danger was to identify progress with the Socialist Party... It was important, therefore, that they had revived a party which represented sound, sensible, rational progress.

[Lloyd George] was still pessimistic about the war—said we were fighting better brains than our own—that there was not one really first-class man on our side. The Germans had shown that they had better training than we, and he knew the value of training—he had seen examples of it in the House of Commons, when Labour members competed against men of better education than themselves—they were just as good fellows, but they hadn't the training. And [Lloyd George] says that it is training that is wanting on our side—among the generals. He says our soldiers are the best in Europe, but they are being wantonly sacrificed because those in authority do not know how to make the best use of them.

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".