he world rolls round, Liberalism will have its
part to play--grand, beneficent, and ameliorating--in relation to men
and States.

The truth lies in these matters, as it always lies in difficult
matters, midway between extreme formulas. It is in the nice adjustment
of the respective ideas of collectivism and individualism that the
problem of the world and the solution of that problem lie in the years
to come. But I have no hesitation in saying that I am on the side of
those who think that a greater collective element should be introduced
into the State and municipalities. I should like to see the State
undertaking new functions, stepping forward into new spheres of
activity, particularly in services which are in the nature of
monopolies. There I see a wide field for State enterprise. But when we
are told to exalt and admire a philosophy which destroys individualism
and seeks to replace it absolutely by collectivism, I say that is a
monstrous and imbecile conception, which can find no real acceptance
in the brains and hearts--and the hearts are as trustworthy as the
brains--in the hearts of sensible people.

Now I pass over the revolutionary Socialists, who, I admit, if they
feel inclined, are justified in throwing away their votes on Saturday
next, and I come to the Labour and to the Trade Union element in our
midst. There I have one or two words to say of rather a straight
character, if you don't object, and which, I hope, will be taken in
good part, and will be studied and examined seriously. Labour in
Britain is not Socialism. It is quite true that the Socialistic
element has imposed a complexion on Labour, rather against its will,
and is now supported in its action by funds almost entirely supplied
by Trade Unions. But Trade Unions are not Socialistic. They are
undoubtedly individualist organisations, more in the character of the
old Guilds, and lean much more in the direction of the culture of the
individual than in that of the smooth and bloodless uniformity of the
mass. Now, the Trade Unions are the most respectable and the most
powerful element in the labour world. They are the social bulwarks of
our industrial system. They are the necessary guard-rails of a highly
competitive machine, and I have the right, as a member of his
Majesty's Government, to speak with good confidence to Trade
Unionists, because we have done more for Trade Unionists than any
other Government that has ever been.

How stands the case o