knowledge of the inner springs of European politics and the financial resources of the great States, would ruin himself before his perfectly correct calculations had time to come true, so a practical statesman, though he cannot know too much, or look too far ahead, must beware of trusting his own forecasts, must remember that he has to deal with the next few months or years, and to persuade persons who cannot be expected to share or even to understand his views of the future. The habit of meditating on underlying truths, the tendency to play the long game, are almost certain to spoil a man for dealing effectively with the present. He will not be a sufficiently vigilant observer; he will be out of sympathy with the notions of the average man; his arguments will go over the head of his audience. No English prime minister has looked at politics with the eye of a philosopher. But Mr. Gladstone, if hardly to be called a thinker, showed higher constructive power than any one else has done since Peel. Were the memory of his oratorical triumphs to pass completely away, he would deserve to be remembered in respect of the mark he left upon the British statute-book and of the changes he wrought both in the constitution of his country and in her European policy. Three groups of measures stand out as monuments of his skill and energy. The first of these three includes the financial reforms embodied in a series of fourteen budgets between the years 1853 and 1882, the most famous of which were the budgets of 1853 and 1860. In the former he continued the work begun by Peel by reducing and simplifying the customs duties. Deficiencies in revenue were supplied by the enactment of less oppressive imposts, and particularly by resettling the income-tax, and by the introduction of a succession duty on real estate. The preparation and passing of this very technical and intricate Succession Duty Act was a most laborious enterprise, of which Mr. Gladstone used to speak as the severest mental strain he had ever undergone: +Kartisten de ten ge machen phato dymenai andron.+[67] The budget of 1860, among other changes, abolished the paper duty, a boon to the press which was resisted by the House of Lords. They threw out the measure, but in the following year Mr. Gladstone forced them to submit. His achievements in the field of finance equal, if they do not surpass, those of Peel, and are not tarnished, as in the case of Pitt, by the recollection of a burden of debts incurred. To no minister can be ascribed so large a share in promoting the commercial and industrial prosperity of modern England, and in the reduction of her national debt to the figure at which it stood when it began to rise again in 1900.