We took the name 'Liberal' because we were determined to be a progressive party, willing to make experiments, in no sense reactionary but believing in the individual, his rights, and his enterprise, and rejecting the socialist panacea.

Experiment is necessary in establishing an academy, but certain principles must apply to this business of art as to any other business which affects the artistic tic sense of the community. Great art speaks a language which every intelligent person can understand. The people who call themselves modernists today speak a different language.

We took the name 'Liberal' because we were determined to be a progressive party, willing to make experiments, in no sense reactionary but believing in the individual, his rights, and his enterprise, and rejecting the socialist panacea.

One speaks with great respect of economists, if only because they represent such a variety of opinions.

Men of genius are not to be analysed by commonplace rules. The rest of us who have been or are leaders, more commonplace in our quality, will do well to remember two things. One is never to forget posterity when devising a policy. The other is never to think of posterity when making a speech.

A man may be a tough, concentrated, successful moneymaker and never contribute to his country anything more than a horrible example. A manager may be tough and practical, squeezing out, while the going is good, the last ounce of profit and dividend, and may leave behind him an exhausted industry and a legacy of industrial hatred. A tough manager may never look outside his own factory walls or be conscious of his partnership in a wider world. I often wonder what strange cud such men sit chewing when their working days are over, and the accumulating riches of the mind have eluded them.

Considering the company I keep in this place, that is hardly surprising.