There was one speech delivered in Blackpool yesterday that was amusing, compelling and inspiring. Alas for the Conservative Party it was produced by William Hague, the former leader and a man who is not a candidate in this election. If, though, Mr Hague harbours any long-term strategy to return to the front line of politics, then he assisted that cause. It would be a loss for the country if he were to discount that possibility permanently.

Those whose hats are in the ring this time — David Davis and Liam Fox — inevitably suffered by comparison. Mr Davis has not had the best of weeks. The disadvantage of being the front-runner is that there are many banana skins between expectation and success. Mr Davis had the awkward task of blending an extensive departmental brief with a naked appeal for backing from MPs and activists. This was never likely to be easy. But his text was at best a workmanlike affair and certainly not the effort of a master. His campaign has not stalled but it has undoubtedly lost momentum.

Mr Davis should draw lessons from this bruising experience. Platform oratory has never been his strength and his admirers will note that he is more effective on the television sofa. Platform oratory is, nonetheless, part of the job. If, despite the setbacks of this week, he still secures the leadership, he will need to work harder on this aspect of his political life; that probably means broadening the circle of people with whom he surrounds himself. He would also be well advised to practise the words he offered to delegates — “do not speak ill of fellow Conservatives” — in public and private.

Dr Fox is the dark-horse candidate in this election. It is difficult to assess the depth of his backing in the House of Commons. He needed a knockout blow, but although he performed well in the hall there was no immediate evidence of a stampede in his direction. Were Mr Davis’s campaign to implode, he might yet benefit.

Even if Dr Fox does not progress, he made a serious contribution to the debate yesterday. The passion he has shown in the cause of mental health in Britain is admirable. His willingness to defend the British military presence in Iraq, even if some of his comments about Tony Blair on weapons of mass destruction were harsh, was appropriate. It has been a depressing feature of this week that many Conservatives have all but abandoned the US relationship. His presence in this battle is plainly not a waste of his time, and the obvious tension between his camp and that of Mr Davis is a sign of Dr Fox’s potential.

The ultimate fate of Mr Hague in 2001 is a salutary reminder that sparkling words are not everything in politics. He was a very good speaker when party leader (and has become even better since) but secured only one more seat than John Major did in 1997. Mr Davis’s backers will note this failure and insist that their man should not be judged on oratory alone.

There is, nonetheless, not only a “Hague factor” but also a “Blair factor” at work here. This conference is taking place a week after the Prime Minister produced certainly his most thoughtful, and arguably his most effective, party conference address since coming to power. Mr Blair has raised the bar again for those both within the Labour Party and outside it who aspire to succeed him. But Labour, as a party, is vulnerable — the next Tory leader will be within reach of the glittering prize.