Conservatism Leads Nowhere; It Satisfies No Ideal.

A Conventional Valuation Which Is Established As The Outcome Of The Mass Psychology Of A Large Number Of Ignorant Individuals Is Liable To Change Violently As The Result Of A Sudden Fluctuation Of Opinion Due To Factors Which Do Not Really Make Much Difference To The Prospective Yield; Since There Will Be No Strong Roots Of Conviction To Hold It Steady.

In This Autumn Of 1919, In Which I Write, We Are At The Dead Season Of Our Fortunes.

One Blames Politicians, Not For Inconsistency But For Obstinacy. They Are The Interpreters, Not The Masters, Of Our Fate. It Is Their Job, In Fact, To Register The Fact Accompli.

I Am Trying To Re-shape And Improve My Central Position.

Economic Privation Proceeds By Easy Stages, And So Long As Men Suffer It Patiently The Outside World Cares Little.