The classical definitions of liberalism and conservatism are surprisingly different than what we find in the current, often divisive political rhetoric in the United States today. Today's conservative is actually the classic liberal. 

Preamble of the Declaration of Independence:

We hold these Truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.

That to secure these rights, Governments are instituted among Men, deriving their just Powers from the consent of the governed.

That whenever any Form of Government becomes destructive of these Ends, it is in the Right of the People to alter or abolish it, and to institute a new Government, laying its Foundation on such Principles, and organizing its Powers in such Form, as to them shall seem most likely to effect their Safety and Happiness.

Conservativism:   To a classical conservative, the goal of change is less important than the insistence that change be affected with a respect for the rule of law and traditions of society. The traditional enemy of conservatism, therefore, is radicalism (not, as many believe, liberalism).

Liberalism:  Broadly speaking, liberalism seeks a society characterized by freedom of thought for individuals, limitations on the power of government and religion (and sometimes corporations), the rule of law, the free exchange of ideas, a market economy that supports private enterprise, and a system of government that is transparent. This form of government favors liberal democracy with open and fair elections, where all citizens have equal rights by law, and an equal opportunity to succeed. Liberalism rejected many foundational assumptions which dominated most earlier theories of government

Conservatism:  (a) Disposition in politics to preserve that what is established; (b) a political philosophy based on tradition and social stability, stressing established institutions, and preferring gradual development to abrupt change.

Liberalism:  A movement in modern Protestantism emphasizing intellectual liberty and the spiritual and ethical content of Christianity.  A theory in economics emphasizing competition, the self-regulating market, and the gold standard.  Political philosophy based on belief in progress, the essential goodness of man, and the autonomy of the individual and standing for protection of political and civil liberties.