What happens? (Besides Asquith becoming PM) Is there anyone who can leverage them back from on the precipice of permanent third party to governing party?
Conceivably. if the Liberals had become the second largest party in 1923, their subsequent history would have been very different. As it was, although the Liberals achieved a major revival, it was all to no purpose. By a strange paradox, it was this revival which, leaving the party holding the balance of power, led directly to the downfall of the party. Whether the Liberal Party could have come to terms with Labour in January 1924 is doubtful. What is clear, however, is that the party could not possibly have cleared its own path to destruction with more determination during 1924 - both in Parliament and in the constituencies.