Harold Macmillan: State

“Up to 1931 there was no reason to suppose that social changes would not, or could not, follow the same evolutionary pattern which had resulted from the increased creation and distribution of wealth during the nineteenth century. Now, after 1931, many of us felt that the disease was more deep-rooted. It had become evident that the structure of capitalist society in its old form had broken down, not only in Britain but all over Europe and even in the United States. The whole system had to be reassessed. Perhaps it could not survive at all; it certainly could not survive without radical change. Something like a revolutionary situation had developed, not only at home but overseas.”

Harold Macmillan

Harold Macmillan (1966) Winds of change, 1914-1939. p. 266 as cited in Brian Vickery (2005) "Coming of age in the 1930s" ( online http://web.archive.org/web/20080531130709/http://www.lucis.me.uk/thirties.htm at archive.org)
1960s

Disease , Home , Change , Wealth

“In the course of some ninety years, the wheel has certainly turned full circle. The Protectionist case, which seemed to most of our fathers and grandfathers so outrageous, even so wicked, has been re-stated and carried to victory. Free Trade, which was almost like a sacred dogma, is in its turn rejected and despised… many acute and energetic minds in the ’forties “looked to the end.” They foresaw what seemed beyond the vision of their rivals— that after the period of expansion would come the period of over-production… [Disraeli] perceived only too clearly the danger of sacrificing everything to speed. Had he lived now, he would not have been surprised. The development of the world on competitive rather than on complementary lines; the growth of economic nationalism; the problems involved in the increasing productivity of labour, both industrial and agricultural; the absence of any new and rapidly developing area offering sufficient attractive opportunities for investment; finally, the heavy ensuing burden of unemployment, in every part of the world— all these phenomena, so constantly in our minds as part of the conditions of crisis, would have seemed to the men of Manchester nothing but a hideous nightmare. Disraeli would have understood them. I think he would have expected them.”

Harold Macmillan

‘Preface’ to Derek Walker-Smith, The Protectionist Case in the 1840s (Oxford: Basil Blackwell, 1933), pp. vii-viii.
1920s-1950s

Men , World , Problem , Thinking

“When I ventured to criticise, the other day, this system I was, I am afraid, misunderstood. As a Conservative, I am naturally in favour of returning into private ownership and private management all those means of production and distribution which are now controlled by state capitalism. I am sure they will be more efficient. What I ventured to question was the using of these huge sums as if they were income.

I know now, I have learnt now from the letters that I have received, that I am quite out of date. Modern economists have decided there is no difference between capital and income. I am not so sure. In my younger days, I and perhaps others of your Lordships had friends, good friends, very good fellows indeed too, who failed to make this distinction. For a few years everything went on very well, and then at last the crash came, and they were forced to retire out to some dingy lodging-house in Boulogne, or if the estate were larger and the trustees more generous, to a decent accommodation at Baden-Baden.”

Harold Macmillan

Hansard, House of Lords, 5th series, vol. 468, cols. 390-1.
Speech in the House of Lords, 14 November 1985.
1980s

Question , Nature , Housing

“The sale of assets is common with individuals and states when they run into financial difficulties. First, all the Georgian silver goes, and then all that nice furniture that used to be in the saloon. Then the Canalettos go.”

Harold Macmillan

"Stockton attacks Thatcher policies", The Times, 9 November 1985, p. 1.
Speech to the Tory Reform Group, 8 November 1985. Often quoted as "selling off the family silver".
1980s

“The only answer to Socialism was to build up by every means a property-owning democracy. Socialism promised to build up a great pauper State by its schemes for State relief, nationalization and doles, while the Conservative Party promised to build up a great property-owning, thrifty, and industrious State.”

Harold Macmillan

Speech ('The Future of Conservatism') to the 1912 Club (16 February 1926), quoted in The Times (18 February 1926), p. 9.
1920s-1950s

Democracy

“Indeed, let us be frank about it. Most of our people have never had it so good. Go around the country, go to the industrial towns, go to the farms, and you will see a state of prosperity such as we have never had in my life time—nor indeed ever in the history of this country. What is beginning to worry some of us is, is it too good to be true?—or perhaps I should say, is it too good to last? ... Our constant concern to-day is, can prices be steadied while at the same time we maintain full employment in an expanding economy? Can we control inflation? This is the problem of our time.”

Harold Macmillan

Speech at Bedford (20 July 1957), quoted in "More production 'the only answer' to inflation", The Times (22 July 1957), p. 4
Prime Minister

Time , History , Country , People