Time will say nothing but I told you so,
Time only knows the price we have to pay;
If I could tell you I would let you know.
If we should weep when clowns put on their show,
If we should stumble when musicians play,
Time will say nothing but I told you so.
There are no fortunes to be told, although,
Because I love you more than I can say,
If I could tell you I would let you know.
Capitalizing “Time” to show its authority is something often done in Auden’s works. The usage of it in this line forces us as readers to imagine Time as an arrogant, smug observer. 
 This may also symbolize a loss of childhood, something that Time smugly steals from us, only to say afterwards “I told you so”
If I Could Tell You