We are taunted—by the French, by the Italians, by the Spaniards—for refusing to worship at the shrine of a common government superimposed upon them a… - Enoch Powell

In order for all prices to rise—in other words, in order for the value of money to fall—it is necessary, it is elementary, that the supply of money, whatever precisely is meant by that, or whatever precise measurement is applied to it, should be increasing relative to the supply of goods and services; and since the supply of goods and services, however unsatisfactory we might find its growth, is certainly not diminishing, we are clearly confronted with the effective consequences of a growth in the money supply. Indeed, in a modern economy, long-term inflation—that which we have experienced in the past and of which we are experiencing an acute phase at the moment—can be explained or accounted for only in terms of the rate of increase of the money supply.

Society is much more than a collection of individuals acting together, even through the complex and subtle mechanisms of the free economy, for material advantage. It has an existence of its own; it thinks and feels; it looks inwards, as a community to its own members; it looks outwards as a nation, into a world populated by other societies, like or unlike itself. The Tory Party, with its deep sense of history, has always concerned itself especially with these two aspects of society, and I believe that the British people would instinctively and rightly reject a philosophy which offered them just an economic machine, however efficient and successful.

The relevant fact about the history of the British Isles and above all of England is its separateness in a political sense from the history of continental Europe. The English have never belonged to it and have always known that they did not belong. The assertion contains no element of paradox. The Angevin Empire contradicts it as little as the English claim to the throne of France; neither the possession of Gascony nor the inheritance of Hanover made Edward I or George III anything but English sovereigns. When Henry VIII declared that 'this realm of England is an empire (imperium) of itself', he was making not a new claim but a very old one; but he was making it at a very significant point of time. He meant—as Edward I had meant, when he said the same over two hundred years before—that there is an imperium on the continent, but that England is another imperium outside its orbit and is endowed with the plenitude of its own sovereignty. The moment at which Henry VIII repeated this assertion was that of what is misleadingly called 'the reformation'—misleadingly, because it was, and is, essentially a political and not a religious event. The whole subsequent history of Britain and the political character of the British people have taken their colour and trace their unique quality from that moment and that assertion. It was the final decision that no authority, no law, no court outside the realm would be recognised within the realm. When Cardinal Wolsey fell, the last attempt had failed to bring or keep the English nation within the ambit of any external jurisdiction or political power: since then no law has been made for England outside England, and no taxation has been levied in England by or for an authority outside England—or not at least until the proposition that Britain should accede to the Common Market.