Word: chamberlaine
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...traditional knowledge of British subjects that their civil servants are incorruptible was at stake last week as a verdict was handed down on the recent case in which part of Chancellor of the Exchequer Neville Chamberlain's new Budget leaked out in advance to speculators who made small killings by insuring with Lloyd's Underwriters against new and higher taxes (TIME, May 4 et seq.). Because the secrets thus disclosed in criminal violation of the Official Secrets Act were known to every Cabinet member, to high Treasury civil servants and even to Government printers, Britons last week awaited...
Before grey-lipped Neville Chamberlain took a little key from his watch chain and opened the battered red leather Budget box to announce to the House of Commons last month a rise in the tax on tea and another threepence to the pound of income tax, somebody must have peeked (TIME, May 4). In a last-minute rush British companies were swamped with orders for insurance against a rise in the income tax. Lloyd's alone lost over $500,000. The only people who see Britain's Budget before it is announced in Commons are high Treasury officials...
...Alfred Bates was one of Jim Thomas' most intimate friends. Another Thomas intimate is Sir Alfred Butt, Conservative M. P., theatrical producer and insurance underwriter. Sir Alfred had bet heavily against a rise in the income tax, only to hedge on all these bets the morning of Chancellor Chamberlain's Budget Speech and add $39,000 worth of Budget insurance on his own account...
Earlier testimony had brought out the fact that Adman Bates had contracted to buy Jim Thomas' unwritten memoirs for $100,000 and had just given him a $76,000 house as part payment. For three days immediately after the Cabinet Ministers were told the contents of Neville Chamberlain's red leather Budget box, Alfred Bates and Jim Thomas played golf together. On the stand last week Jim Thomas' hearty voice became the humblest murmur...
Meanwhile the wheel horses of British politics took to the public platform to prepare British opinion for the coming shift in foreign policy. From the beginning, one of the most ardent believers in clamping Sanctions on Italy's ambitions was Sir Austen Chamberlain. Last week this gaunt Elder Statesman was on his feet crying...