"I can conceive it is a possible theory that we might be even richer if we became simply a distributive Empire, a home for millionaires and for their dependents, with no productive industry whatever, no one who would come under our present description of working men, that is to say, a man who labours at some definitive trade or industry for himself. I can conceive that it might be possible that there should be even more cheques passing through the Clearing-house than there are now; that the returns of income-tax would be larger. A single millionaire might increase the returns from income-tax more than they would be diminished by the destruction of a whole industry of Birmingham. But, for reasons of difference in national character and position (hear, hear), you may be richer, but not greater. (Hear, hear). You may sink to a position which I do not like to contemplate, and yet all these official statistics might show you a constant tale of progress and increasing wealth."