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" "So far from enjoying the undisputed hegemony which was so confidently predicted for British trade 50 years ago, there was not now an inch of ground in any one of the international markets for which we were not fighting with all our available strength. We had long ceased to enjoy that relative superiority in natural advantages with which we started upon the race.
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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[W]e claim to start from and to maintain in all our political action this fundamental principle—that the interests of the community as a whole ought to be paramount over the interests of any class, any interest, or any section which that community contains. That is the root and spring of Liberalism.
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