From the budget crisis of 1909 until the party crisis of 1916 Mr. Asquith, as the Nestor first of his party and then of his coalition, was by so much the most commanding figure in public life that posterity seemed likely, in reading the history of those years, to concentrate upon his name as exclusively as this age concentrates on that of Mr. Pitt, while forgetting the names of his lieutenants as completely as the casual reader in these days has forgotten the names of Mr. Pitt's. Had he remained in office till the armistice to enjoy the fruits of this early war-administration, his fame would probably have transcended Mr. Pitt's, as the late war transcended in magnitude the war against Napoleon; had he resigned voluntarily, with every honour that could be bestowed upon him, three months before the December downfall, he would have shared with his successor whatever credit history may accord to the political leaders in the war. The time and the manner of his resignation dwarf his personality and his achievements before those of Mr. Lloyd George as the achievements and personality of Lord Aberdeen were dwarfed before those of Lord Palmerston. "Nothing in Mr. Asquith's career is more striking than his fall from power," writes the anonymous author of _The Mirrors of Downing Street_; "it was as if a pin had dropped." Seven years earlier he seemed to his supporters, inside the House and out, a leader who could wrest a party victory from the jaws of political death. Whoever unloosed the winds, it was always Mr. Asquith who harnessed and rode them. Thus, Mr. Lloyd George, confident that the House of Lords had, by constitutional convention, no power to tamper with a money-bill, departed so far from the traditional conception of the budget as a means of balancing expenditure and revenue that the House of Lords was threatened with loss of control over any measure which could be shielded by a financial clause. It was a bold challenge, boldly accepted; the House of Lords threw out the budget. No general election could paralyse their powers more completely than the device which the chancellor of the exchequer was seeking to introduce. With equal boldness the prime minister followed up his challenge by advising a dissolution.