In the late 1890s Hirst decided to persuade his Oxford friends to write a volume of essays on Liberalism with him. The group wanted the preface to be written by a prominent Liberal, other than
Lord Rosebery or Sir
William Harcourt as these were the leaders of opposing factions. Their first preference was for
John Morley but he declined on the grounds that he would be attacked for opinions expressed in the book which he did not hold. Hirst then asked
H. H. Asquith who said the essays were likely intended to be "a declaration of war against that section of Liberal opinion, which has of recent years gravitated towards modes of thought and fashions of speech which are called 'Collectivist'". He further said that whilst he did not find himself in "substantial disagreement" with the essays he declined the offer because "exception might not unreasonably be taken to my going out of my way (as it would be said) to herald a militant demonstration, avowedly directed against a section (however small) of the party of which I am (for the time being) one of the responsible leaders". Hirst was "baffled" by this and then asked
William Ewart Gladstone. Gladstone replied with a handwritten letter: I am wholly unable to comply with the requests which so often reach me for the writing of Prefaces, but I venture on assuring you that I regard the design formed by you and your friends with sincere interest, and in particular wish well to all the efforts you may make on behalf of individual freedom and independence as opposed to what is termed
Collectivism. In the end Hirst and his friend
J. S. Phillimore wrote the preface. The book was dedicated to Morley. After Morley read Hirst's contributions to Cassell's biography of Gladstone edited by Sir
Wemyss Reid, he asked Hirst to spend a few weeks with him at
Hawarden Castle (Gladstone's home) to help him write Gladstone's authorised biography. Hirst opposed the
Boer War and was a co-founder of the League Against Aggression and Militarism. After he had left Oxford, Hirst edited political and economic books for Harper's, including one on Toryism by
F. E. Smith and one on Socialism by
R. C. K. Ensor. Another was his compilation of extracts from
Richard Cobden,
John Bright,
Joseph Hume,
W. J. Fox,
William Molesworth,
Thomas Farrer and others, titled
Free Trade and Other Fundamental Doctrines of the Manchester School. In 1904 Morley asked Hirst to write a biography of
Adam Smith for his "
English Men of Letters" series. During the next two years he wrote
The Arbiter in Council, an imaginary dialogue in which the Arbiter, an old Cobdenite Radical, discusses the issues of war and peace. Morley recommended it to Macmillan and it was published anonymously but the authorship came to be known. In 1903 he married Helena Mary Carroll Cobden at Heyshott, near Midhurst, West Sussex. She was born on 16 February 1880 in Japan. She died 27 December 1965 in Chichester, West Sussex. Helena was Richard Cobden's great-niece. Francis Hirst had a particular affection for the Cobden Club and the Dunford House Association. One of his homes was Dunford House, Midhurst, West Sussex – the former home of Richard Cobden – where he used to organise the "Dunford House Conferences". The Hirsts lived there until 1952. Hirst wrote to the new Liberal Prime Minister, Sir
Henry Campbell-Bannerman on 29 December 1905, claiming that depression in trade and social distress could be explained by over-taxation and wasteful government expenditure on armaments. The outcome of this was "dear money, lowered credit, less enterprise in business and manufacturers, reduced home demand and therefore reduced output to unemployment". He told Campbell-Bannerman that "to restore credit and to lower taxes is the first great remedy for unemployment and the first great mission of the Liberal government". Hirst wrote again to Campbell-Bannerman on 9 November 1907, claiming that his government would only regain popularity by pursuing the traditional policy of retrenchment in expenditure. Morley also recommended Hirst as editor of
The Economist, which he held from 1907 to 1916. In 1913–14 Hirst was a member of the international commission sent by the
Carnegie Endowment for International Peace to investigate the conduct of the
Balkan Wars of 1912–13. Hirst was with
John Burns when Britain declared war on Germany in August 1914, and they both wept at the news. He was editor of the journal
Common Sense from 1916 to 1921.
Common Sense has been described as "the new house journal of disaffected Cobdenites". Hirst wrote that there was little to choose between the old Prime Minister Asquith and the new, Lloyd George; they both held power at the pleasure of protectionists. This "Old Gang of official Liberals" were impossible to rely upon because they had sacrificed liberalism in a "miserable hunt for offices and titles...in order to please their Protectionist colleagues and remain in office". Hirst agreed with
Lord Lansdowne's proposal for a negotiated peace with Germany and drew up a government for this purpose. It did not include Asquithian Liberals but included old-fashioned Liberals such as
Lord Loreburn and
Richard Holt. ==Political activity==