A rich discussion of the implications of the mid-term elections--in which the

Democrats picked up 43 seats in the House, 3 seats in the Senate, and 4 governorships-- among two liberal Democrats and their conservative Republican host. Mr. Davis maintains that "One of the dangers for the Republican Party is to misjudge the results of the '74 elections as a consequence of Watergate rather than as the natural flow of events that really began some time ago ..." Mr. Buckley suggests--six years before Ronald Reagan's election to the Presidency--that "it is not inconceivable that what we will see in the next few years is an effort by theoretical conservatives to devise a means of building a bridge to blue-collar populists and that that, if it is successful, would constitute a numerical majority in most elections."