a determination to abolish the privileges of the few, which, however, involved no desire to embark on the impossible and inequitable task of creating privileges for the many; a deliberate attempt to extirpate the servile dependence of the old poor law, and a definite abandonment of the plan of distributing economic advantages by eleemosynary state action. This policy was based on the conviction that personal liberty and freedom of private enterprise were the adequate, constructive influences of a progressive civilisation. Too much importance has perhaps been attached to the relatively unimportant question of the freedom of international trade, for this was only part of a general policy of emancipation which had a much more far-reaching scope. Rightly understood the political philosophy of that time, put forward by the competent statesmen who were then trusted by the democracy, proclaimed the principle of liberty and freedom of exchange as the true solvents of the economic problems of the day. This policy remained in force during the ministry of Sir R. Peel and lasted right down to the time of the great budgets of Mr. Gladstone.