Churchill as Chancellor of the Exchequer (1924–9) and the return to the gold standard

The general election of 29 October 1924 saw Winston Churchill return to Parliament as Constitutionalist MP for Epping after two years in the political wilderness. It also saw Stanley Baldwin swept back to Number 10 on a Conservative landslide. Speculation about whether Baldwin would cement Churchill’s drift from the Liberal fold by offering him office surfaced during the election campaign. Churchill nevertheless thought ‘it very unlikely that I shall be invited to join the Government, as owing to the size of the majority it will probably be composed only of impeccable Conservatives’. [ 1 ] Because of his anti-socialist credentials, his ability to reassure wavering Liberals through his opposition to protectionism – dropped by Baldwin after its rejection in the 1923 general election – and concern he could prove a rallying point for backbench malcontents, there was however much to commend giving Churchill a post. To his surprise, Baldwin offered Churchill the long-coveted office of Chancellor of the Exchequer, briefly held by his father before his ill-conceived resignation in 1887. Having arranged a meeting with his Labour predecessor, Philip Snowden, about outstanding business the new Chancellor set to work. Marking his political transition, a few days later Churchill resigned from the National Liberal Club.

Winston Churchill as Chancellor of the Exchequer (1924-9) and the Return to the Gold Standard

This revisits Churchill's decision, as Chancellor of the Exchequer 1924-29, to restore the Gold Standard in 1925. This is considered within the wider context of the overall aims of Churchill's policies, including his efforts to: tackle Anglo-American economic and financial relations in the aftermath of the Great War; address budgetary pressures; widen the tax base through innovations such as the Betting Duty; spread the social burden of taxes; and revive the economy, not least through his de-rating scheme.

Reassessing the impact of yesterday's men

This special seminar to explore the controversy surrounding the Yesterday's Men programme of 1971, and its subsequent significance in the history of British political documentaries, was held at the Institute of Historical Research, London, on 26 January 1994. The seminar opened with a re‐screening of the programme, which featured interviews with Harold Wilson, the then leader of the opposition to Edward Heath's new Conservative government, front bench opposition spokesmen including Roy Jenkins, Tony Crosland and Denis Healey, and the political correspondent Peter Jenkins. The discussion was introduced by Dr Jean Seaton and chaired by Professor Peter Hennessy. The principal participants were Joe Haines (Chief Press Secretary to Harold Wilson 1969–76), Brian Wenham (editor, Panorama 1969–71, Head of BBC Current Affairs Group 1971–78) and John Grist (Head of BBC Current Affairs Group 1967–71, Controller, BBC English Regions 1972–77), with further contributions from Philip Whitehead, Professor Ben Pimlott, Peter Rose, David Benn, Professor Colin Seymour‐Ure, Joanna Kayford, Rosaleen Hughes, Hugh Purcell, Murray Weston and Chloe Miller.