Initially conservatism was a philosophy used by the "men in possession" of a new country, but most of all it espoused the spirits of individualism akin to Herbert Spencer's theories.
The Continuous Ministry was governing once again in 1887–88, the worst years of the Long Depression, when Premier Harry Atkinson became very unpopular, even with the wealthy his erstwhile supporters.
In 1902 a Sydney newspaper said of the Conservatives: They have hardly [in 12 years] carried even a snatch division on a question about a culvert on a back country road.
[12][17] During the 20th and early 21st centuries, the National Party built a reputation for advocating free enterprise, self reliance, individual freedom and small government.
[11] According to Colin James, the party's principles, policies and membership have embodied four broad tendencies: conservatism, liberalism, populism and libertarianism.
National's conservative tendency has focused on preserving the status quo, centering the individual and family as the foundations of a cohesive society and favouring moderation over reactionary policies.
The party's liberal tendency has focused on individual liberty, free markets, private enterprise and small government while acknowledging the need for a welfare state and public education system.
[18][19] According to James, notable self-described conservative leaders in the National Party have included Deputy Prime Minister and Prime Minister Bill English and MP Simon Upton, who emphasised preserving the best elements of society including social order, personal and community responsibility, and conserving natural resources for future generations.
[22] James has described Prime Minister Robert Muldoon as a populist due to his adoption of utilitarian programmes designed to appeal to the needs, fears and prejudices of "ordinary blokes" and his aggressive treatment of opponents and critics, which many alienated liberals and some conservatives within the party.
[20] James has also described National MP and Finance Minister Ruth Richardson as a radical libertarian due to her adherence to the free market theories of Adam Smith, Friedrich Hayek, Milton Friedman, the Chicago and Virginian schools of economic thought.
[23] Below is a list of the leading figures among the right wing members of parliament from the forming of the Continuous Ministry until the establishment of the Reform Party.