If the prospects on the European continent are bright and tranquil, I think we have reason to feel also contentment at the course of Colonial affairs.  We have had unusual difficulties in the Colonies; but in spite of every effort to excite Colonial apprehension for Party purposes against a Liberal Ministry through the instrumentality of a powerful press, the great States of the Empire have felt, and with more assurance every day, that a Liberal Administration in Downing Street will respect their rights and cherish their interests.

But I am drawn to South Africa by the memory that to-night, the 11th of October, is the anniversary of the declaration of war; and I think it is in South Africa that we have especial reason to be satisfied with the course which events have taken, since we have been in any degree responsible for their direction.  One great advantage we have had—­a good foundation to build on.  We have had the Treaty of Vereeniging, by which peace was established between the Dutch and British races in South Africa upon terms honourable to both.  We have had that treaty as our foundation—­and what a mercy it is, looking back on the past, to think that the nation followed Lord Rosebery’s advice at Chesterfield to terminate the war by a regular peace and a regular settlement, and were not lured away, as Lord Milner would have advised them, when he said that the war in a certain sense would never be over, into a harsh policy of unconditional surrender and pitiless subjugation.

The work of giving these free Constitutions to the two Colonies in South Africa, so lately independent Republics, is in harmony with the most sagacious instincts, and the most honoured traditions of the Liberal Party.  But I notice that Lord Milner, who, as we remember, was once a Liberal candidate,—­and who now appears before us sometimes in the guise of a silent and suffering public servant, sometimes in the aspect of an active, and even an acrid, political partisan, haranguing his supporters and attacking his Majesty’s Ministers,—­Lord Milner describes all this improving outlook as “the dreary days of reaction.”  Progress and reaction are no doubt relative terms.  What one man calls progress another will call reaction.  If you have been rapidly descending the road to ruin and you suddenly check yourself, stop, turn back, and retrace your steps, that is reaction, and no doubt your former guide will have every reason to reproach you with inconsistency.  And it seems to me not at all unnatural that to one who regards three years’ desolating civil war as a period of healthy and inspiring progress, a good deal of what his Majesty’s Government have lately done in South Africa must appear very dreary and reactionary indeed.