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" "I...say to my working-men friends here, before you forsake your support and allegiance to the Liberal party, and before you go trying to found some separate organization of your own, let me venture to put before you two considerations. In the first place I would beg of you to remember that in English public life and in English history we have hitherto always had parties which did not represent, or which, at any rate, did not profess to represent, particular classes, but which looked at the interests of the community from the point of view of the community as a whole.
Herbert Henry Asquith, 1st Earl of Oxford and Asquith, KG, PC (12 September 1852 – 15 February 1928) was Prime Minister of the United Kingdom from 1908 to 1916. As Prime Minister, his Liberal Party government passed social legislation beginning the modern British welfare state and reducing the power of the House of Lords. He was the leader of the country during World War I and formed a wartime coalition with the Conservative Party. He was was forced to resign in favor of David Lloyd George due to disagreements over military strategy and conscription, leading to a split between the two that began the decline of the Liberal Party.
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More important still, perhaps, the sanctity of treaties and of the public law of Europe has been finally vindicated; and last, and most important of all, we have set up in the League of Nations a new international polity which promises, if it is given free scope and full authority, first to bring about progressive disarmament, and next to provide in future a rational and humane substitute for the ruinous arbitrament of war.
[F]or us here, 43,000,000 of people in these two small islands, dependent as we are upon extraneous sources of supply for the food of the people and the materials of the industry, the one free, open, untrammelled market in the whole world—for us, I say, free trade is the breath of life, and there is no social reform that would not be dearly purchased by its sacrifice.
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The socialization or nationalization of production and distribution and the extinction of what is called Capitalism—by whatever name the ideal, and the process for its attainment, is called—would starve the resources, and, in time, drain away the life-blood of the great productive industries which depend for their efficiency on the free play of initiative and enterprise. And Labour is becoming more and more a class organization, an expression and embodiment of what is called “class-consciousness.” That again was significantly illustrated in the general strike, which was directed by organized Labour, and which was countenanced—it is true, in a somewhat shamefaced fashion—by the Parliamentary Labour Party leaders.