uppose even that we establish securely international
and political, industrial and social peace, is that peace all we need?
Shall we not still in youth be restless, anxious about the future of our
own lives and the lives of those nearest to us, unsettled by ambitions
for what we may not attain, disappointed at the little progress we make;
restless all through life, disturbed by thoughts of what we desire but
cannot have; restless, most of all, in age, knowing that attainment is
no longer possible, and, if we have attained anything, feeling how
little it is worth? Who will take for his proper sphere to show the way
to a peace which may pass the understanding of those who, in
disappointment and loss and vain endeavour, which will go on even if the
dreams of national and social progress and improvement are realised, and
alike in failure or success, will need that peace more and more as long
as the life of man lasts? Sometimes we see among those round us calm
faces the living "index of a mind" at peace, which make us feel that
there are those working in our midst in whom that peace exists. Let her
tell the way to that and the answer would be, "There is nothing wrong
with the Church; she is fulfilling her mission; ever, as of old, will
glad welcome greet the footsteps of him that bringeth good tidings, that
publisheth peace." [7]

FOOTNOTES:

[Footnote 7: The word "Church" is used in the sense which each reader
chooses to attach to it. Definition in such matters leads to
dissension.]

Part III

RETRENCHMENT

CHAPTER XIV

STATE EXPENDITURE AND INCOME

_Political economy, as a branch of the science of a
statesman or legislator, proposes two distinct objects,
first, to provide plentiful revenue or subsistence for
the people or, more properly, to enable them to provide
such a revenue or subsistence for themselves, and,
secondly, to supply the slate or commonwealth with a
revenue sufficient for the public services._--ADAM SMITH.

Taking first the second of the two objects mentioned by Adam Smith, it
will be convenient under the heading of "Retrenchment" to treat not only
the question of economy in the expenditure of the State, but also the
other side of the account, and consider what general lines of action
should be adopted to make revenue balance expenditure, in the first
place by reducing expenditure, and, in the second, by increasing
revenue, in view of the fact t