A good deal depends on the quality of the lie. You must have intellectual lies for intellectual people and crude lies for popular consumption, but if your popular lies are too blatant and your more intellectual section are shocked and see through them, they may (and indeed they did) begin to be suspicious as to whether they were not being hoodwinked too. Nevertheless, the inmates of colleges are just as credulous as the inmates of the slums.

Falsehood in Wartime (1928) - Introduction