If, for example, any serious proposals were made in this country, in the United States, or in France to lower the currency price of gold with a view to lowering commodity prices, that would immediately precipitate an economic Crisis of the First Order, and a world disturbance of the kind referred to in the Budget statement of my right hon. Friend.
If the Labour party obtained power in this country, and really decided to go in for Socialism good and proper, I do not think it would necessarily create a revolutionary system, although I think that possible, but I think it would be bound to create a financial Crisis of the First Order; and that is why I think the hon. and learned Member for East Bristol is one of the few absolutely sincere Members of this House, because he has the guts to say what the advent of a Socialist Government would necessarily involve.
Indeed, my right hon. Friend himself created a political Crisis of the First Order.
In one industry of which I know something, agriculture, the shortage of labour for "every purpose is alarming; and if some thing of a drastic nature is not done now, we are heading for a Crisis of the First Order in the agricultural industry.
We shall have to cut down our imports of raw materials and food and we shall be faced by a financial Crisis of the First Order, and the more awful prospect still of another National Government.
We all know what followed on that occasion: a Crisis of the First Order, two million unemployed and a great deal of real harm to the industrial development of the country.
If that is to be done, the Committee will have to decide whether this form of taxation should be abolished altogether in one go - which would cause a financial Crisis of the First Order - or whether we should adopt my solution, or something along the lines of the solution which I have suggested, which is that we should make up our minds here and now that over the next 10 years we shall remove the dependence of this country on such a source of revenue.
That is in contradiction to the situation posed by the right hon. and learned Gentleman because, as he suggested, if the House rejected the Regulations there would be a constitutional Crisis of the First Order.
That in itself has created a social Crisis of the First Order.
Never have I encountered so many people with so few ideas about what to do in the face of a First Order Crisis.