b. Reconciliation is a hopeful illusion that becomes more costly the longer it is indulged.
Explanation:
Here, Henry talks about how Americans have continuously tried to talk about peace and settle the needful with British. In contrast, British already started off the war and that is what Henry exclaims to people of Virginia.
Henry talks about how speaking for peace will not work any more as it is only a hopeful illusion to them and it may cost them more lives, jobs and their motherland on a whole.
Part B: In his entire speech, he uses imagery and references mythology to provoke an emotional response among the people of Virginia to make them understand that fighting for peace is all they have and not reconciliation.
He is fighting for liberty or death, there must be no in between.