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nineteenth century might be called the age of Liberalism, yet its close saw the fortunes of that great movement brought to their lowest ebb. Whether at home or abroad those who represented Liberal ideas had suffered crushing defeats. But this was the least considerable of the causes for anxiety. If Liberals had been defeated, something much worse seemed about to befall Liberalism. Its faith in itself was waxing cold. It seemed to have done its work. It had the air of a creed that is becoming fossilized as an extinct form, a fossil that occupied, moreover, an awkward position between two very active and energetically moving grindstones—the upper grindstone of plutocratic imperialism, and the nether grindstone of social democracy. “We know all about you,” these parties seemed to say to Liberalism; “we have been right through you