Budget speech in the House of Commons (18 April 1907)
“
[F]or us here, 43,000,000 of people in these two small islands, dependent as we are upon extraneous sources of supply for the food of the people and the materials of the industry, the one free, open, untrammelled market in the whole world—for us, I say, free trade is the breath of life, and there is no social reform that would not be dearly purchased by its sacrifice.
— H. H. Asquith
What It Means
This is a placeholder explanation generated by the low-overhead model. It interprets "[F]or us here, 43,000,000 of people in these two small islands, dependent as we are upon extraneous sources of supply for the food of the people and the materials of the industry, the one free, open, untrammelled market in the whole world—for us, I say, free trade is the breath of life, and there is no social reform that would not be dearly purchased by its sacrifice." in the context of "Budget speech in the House of Commons (18 April 1907)" to mean that wisdom is timeless.
Source: Wikiquote: "H. H. Asquith" (Quotes, Chancellor of the Exchequer)
The 'What it means' explanation text was generated by Google Gemini Flash (accessed January 18, 2026). https://gemini.google.com/app
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About H. H. Asquith
Herbert Henry Asquith, 1st Earl of Oxford and Asquith, KG, PC (12 September 1852 – 15 February 1928) was Prime Minister of the United Kingdom from 1908 to 1916. As Prime Minister, his Liberal Party government passed social legislation beginning the modern British welfare state and reducing the power of the House of Lords. He was the leader of the country during World War I and formed a wartime coalition with the Conservative Party. He was was forced to resign in favor of David Lloyd George due to disagreements over military strategy and conscription, leading to a split between the two that began the decline of the Liberal Party.
About H. H. Asquith
Herbert Henry Asquith, 1st Earl of Oxford and Asquith, KG, PC (12 September 1852 – 15 February 1928) was Prime Minister of the United Kingdom from 1908 to 1916. As Prime Minister, his Liberal Party government passed social legislation beginning the modern British welfare state and reducing the power of the House of Lords. He was the leader of the country during World War I and formed a wartime coalition with the Conservative Party. He was was forced to resign in favor of David Lloyd George due to disagreements over military strategy and conscription, leading to a split between the two that began the decline of the Liberal Party.
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