Churchill (2009) by Johnson Paul

Author:Johnson, Paul [Johnson, Paul]
Language: eng
Format: mobi, epub
Published: 2011-03-26T18:09:28+00:00

He called for "a premium on effort" and "a penalty on inertia," and he certainly practiced what he preached.

Despite his performance as chancellor, however, the country gave thumbs-down to Baldwin at the general election in 1929. The Tories got more votes than Labour but MacDonald secured the largest number of seats and formed a new government. Ousted, Churchill at once turned to the business of making money on a large scale. In the stock exchange boom of the late twenties he had been prevented from speculating by his position. Now he set to. In America to give highly paid lectures and to write for American magazines, he wrote joyfully to his wife on September 20, 1929, from California that "very great and extraordinary good fortune" had attended him on the stock exchange, thanks to the advice of Sir Harry McGowan, chairman of Imperial Chemicals, whom he had got elected to the Other Club and who, in return, was looking after his money. He instructed Clemmie to embark on plans for large-scale entertainment in London of "colleagues and MPs and a few business people who are of importance." He had earned nearly PS 20,000 since he last wrote:

So here we have really recovered in a few weeks a small fortune. And this with the information I can get and now am free to use may earn further profits in the future. I am trying to keep PS20,000 fluid for investment and speculation with Vickers da Costa [stockbrokers] and McGowan. This "mass of manoeuvre" is of the utmost importance and must not be frittered away. But apart from this, there is money enough to make us comfortable and well-mounted in London this autumn.

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