MARGOT: "I suppose at this moment Mr. Chamberlain is as much hated as Gladstone ever was?"

LORD SALISBURY: "There is a difference. Mr. Gladstone was hated, but he was very much loved. Does any one love Mr. Chamberlain?"

One day after this conversation he came to see me, bringing with him a signed photograph of himself. We of the Liberal Party were much exercised over the shadow of Protection which had been presented to us by Mr. Ritchie, the then Chancellor of the Exchequer, putting a tax upon corn; and the Conservative Party, with Mr. Balfour as its Prime Minister, was not doing well. We opened the conversation upon his nephew and the fiscal question.

I was shocked by his apparent detachment and said:

"But do you mean to tell me you don't think there is any danger of
England becoming Protectionist?"

LORD SALISBURY (with a sweet smile): "Not the slightest! There will always be a certain number of foolish people who will be Protectionists, but they will easily be overpowered by the wise ones. Have you ever known a man of first-rate intellect in this country who was a Protectionist?"

MARGOT: "I never thought of it, but Lord Milner is the only one I can think of for the moment."

He entirely agreed with me and said:

"No, you need not be anxious. Free Trade will always win against Protection in this country. This will not be the trouble of the future."

MARGOT: "Then what will be?"