National Crisis and National Government British Politics, the Economy and Empire, 1926–1932

This book is the first to examine all aspects of the crisis together and in depth using an extensive range of official, institutional and personal papers. It demonstrates that a proper understanding of economic and imperial policies requires a sophisticated grasp of political processes. It shows how explanation of British political change must proceed by placing the power elites in their specific contexts, by exposing their beliefs, fears, objectives and strategies, and by displaying their interactions. The Treasury, the Bank of England, big business, the TUC and Keynes, as well as MacDonald, Baldwin, Lloyd George, Churchill, Mosley and Chamberlain are seen tackling some of the most fundamental problems of the modern British state.

From 1926 Britain fell into a condition of deep national crisis, which seemed to threaten its domestic stability and international power. By 1932 the effort to contain these problems had transformed British politics and policy. Strains produced by three-party politics, economic recession and imperial difficulties resulted during 1931 in such a severe financial and political crisis that the Labour government collapsed and Conservative, Liberal and some Labour leaders joined together in a National government. Despite large public expenditure cuts and tax increases, and despite devaluation of sterling and a new crisis in the Indian Empire, this government obtained the greatest British election victory of modern times. This 1992 book examines all aspects of the crisis together and in depth, using an extensive range of official, institutional and personal papers.

List of illustrations; Acknowledgements; Conventions and abbreviations; Introduction; Part I. Components of Crisis: 1. The erosion of Conservative predominance; 2. Economic and imperial troubles; 3. Government and party troubles; 4. 'National crisis'; Part II. Crisis Avoided: 5. The impact of India; 6. Retrenchment and containment; 7. Towards a two-party system; Part III. The Crisis: 8. The financial crisis: July 1931; 9. The political crisis: August 1931; 10. First effects; 11. The emergency government's crisis: September 1931; Part IV. Crisis Overcome: 12. The political reconstruction; 13. The defeated; 14. The national government; Conclusion; Appendix; Sources; Index.

This book examines the role of government, big business and economic bodies during Britain's prolonged national crisis of 1926-32. Dr Williamson covers both policy and politics and carries out close examination of the major figures of the time including Baldwin, Churchill, Mosley and Chamberlain.