I myself am no opponent of State intervention. I have never been, and never shall be, as soon as it is shown to me that State intervention can achieve some good end which cannot be reached without it. And I hope that opinion will soon turn in the direction of municipal intervention in these affairs, wherever municipal intervention is adequate, and I will tell you why... I believe that in municipalities the area of supervision is sufficiently small, that people concerned come up in sufficiently close quarters with the matters of administration to enable them to avoid all the dangers, risks, and wastes to which the general state of capitals is open.

Speech to the annual meeting of the National Liberal Federation (20 November, 1890).