There are cross-currents in this election. You cannot be unconscious of that. They flow this way and that way, and they disturb the clear issue which we should like to establish between the general body of those whose desire it is to move forward, and those who wish to revert to the old and barbarous prejudices and contentions of the past—to the fiscal systems and to the methods of government and administration, and to the Jingo foreign policies across the seas, from which we hoped we had shaken ourselves clear.

I want to-night to speak about these cross-currents; and let me first say a word about Socialism. There are a great many Socialists whose characters and whose views I have much respect for—men some of whom I know well, and whose friendship I enjoy. A good many of those gentlemen who have delightful, rosy views of a noble and brilliant future for the world, are so remote from hard facts of daily life and of ordinary politics that I am not very sure that they will bring any useful or effective influence to bear upon the immediate course of events. To the revolutionary Socialist, whether dreamer or politician, I do not appeal as the Liberal candidate for Dundee. I recognise that they are perfectly right in voting against me and voting against the Liberals, because Liberalism is not Socialism, and never will be. There is a great gulf fixed. It is not only a gulf of method, it is a gulf of principle. There are many steps we have to take which our Socialist opponents or friends, whichever they like to call themselves, will have to take with us; but there are immense differences of principle and of political philosophy between our views and their views.

Liberalism has its own history and its own tradition. Socialism has its own formulas and aims. Socialism seeks to pull down wealth; Liberalism seeks to raise up poverty. Socialism would destroy private interests; Liberalism would preserve private interests in the only way in which they can be safely and justly preserved, namely, by reconciling them with public right. Socialism would kill enterprise; Liberalism would rescue enterprise from the trammels of privilege and preference. Socialism assails the pre-eminence of the individual; Liberalism seeks, and shall seek more in the future, to build up a minimum standard for the mass. Socialism exalts the rule; Liberalism exalts the man. Socialism attacks capital; Liberalism attacks monopoly.

These are the great distinctions which I draw, and which, I think, you will agree I am right in drawing at this election between our respective policies and moods. Don't think that Liberalism is a faith that is played out; that it is a creed to which there is no expanding future. As long as the 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 of the Trade Unionists? Do they really believe, I put this question to them fairly—do they really believe that there is no difference whatever between a Tory and a Liberal Government? Do Trade Unionists desire the downfall of the existing Liberal Government? Would they really like to send a message of encouragement to the House of Lords—for that is what it comes to—to reject and mutilate Liberal and Radical legislation—and Labour legislation now before Parliament? Would they send such a message of encouragement to the House of Lords as this—"House of Lords, you were right in your estimate of public opinion when you denied the extension of the Provision of Meals to School Children Bill to Scotland, when you threw out the Scottish Land Valuation Bill, when you threw out the Scottish Small Holders Bill—when you did all this you were right." Do you wish to send that message to the House of Lords? But that will be the consequence of every vote subtracted from the Liberal majority.

Why, gentlemen, let me return to the general current of events. What is the Government doing at present, and what has it done in its brief existence? Within the limits under which it works, and under the present authority of the House of Lords, what has it done and what is it doing for Trade Unionists? It has passed the Trades Disputes Act. The Workmen's Compensation Act has extended the benefits of compensation to six million persons not affected by previous legislation. The qualification of Justices of the Peace—the citizens' Privy Councillorship, as I call it—has been reduced so as to make it more easy for persons not possessed of this world's goods to qualify to take their place on the civic Bench. You know the land legislation for England, which is designed to secure that the suitable man who wants a small parcel of land to cultivate for his own profit and advantage shall not be prevented from obtaining it by feudal legislation, by old legal formalities or class prejudice. And is the Licensing Bill not well worth a good blow struck, and struck now, while the iron is hot? Then there is the Miners' Eight Hours Bill, a measure that has been advocated by the miners for twenty years, and justified by the highest medical testimony on humanitarian and hygienic grounds. It is costing us votes and supporters. It is costing us by-elections, yet it is being driven through. Have we not a right to claim the support of the Trade Unionists who are associated with the miners? Don't they feel that this measure is hanging in the balance, not in the House of Commons, but in the balance in the House of Lords, which attaches to by-elections an importance which, in their arrogant assertion, entitles them to mutilate or reject legislation, even although it comes to them by the majority of a Parliament newly elected on a suffrage of six millions. Then there is the question of old-age pensions, a question that has been much misused and mishandled in the past.

That was a pledge given by our opponents to win the election of 1895, and after the lapse of thirteen years of toil and stress, the Liberal Party is able to take it up, and will implement it in an effective fashion. Now, is there one of all these subjects which does not command the support of Trade Unionists and responsible Labour leaders? The Government is fighting for these measures. The Government is risking its life and power for these and similar objects. The Tory Party is opposing it on every point. The Tory Party is gaining popularity from the resistance of the interests which are affected by the passing of such measures of social reform. The House of Lords is the weapon of the Tory Party. With that weapon they can make a Liberal Government ridiculous. Are the Labour leaders, are Trade Unionists, confronted at this moment with the menace of reaction, deliberately going to throw in their lot with the House of Lords? I don't think they will. The record in Labour legislation under the existence of the present Government is a record which deserves, and will, I believe, command, the support of the great mass of the labouring classes of our country.

But I say, in all seriousness, that if the Liberal Government is on the one hand confronted by the House of Lords, fortified by sporadic by-elections, and on the other hand is attacked, abused, derided, by a section of those for whom it is fighting, then that Government, whatever its hopes, whatever its energies, whatever its strength, will be weakened, will perhaps succumb, and will be replaced by another Government. And by what other Government will it be replaced? There can be no other result from such a division of progressive forces than to instal a Tory and Protectionist Government in power. That will not be fatal to us. Liberalism will not be killed. Liberalism is a quickening spirit—it is immortal. It will live on through all the days, be they good days or be they evil days. No! I believe it will even burn stronger and brighter and more helpful in evil days than in good—just like your harbour-lights, which shine out across the sea, and which on a calm night gleam with soft refulgence, but through the storm flash a message of life to those who toil on the rough waters.