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Intrinsic Sterling. On international exchange the British pound hovered between $3.85 and $3.95 last week, ceased its wild gyrations of last fortnight. In the House of Commons tight-lipped Chancellor of the Exchequer Philip Snowden was asked at question hour: "What steps does His Majesty's Government propose to take to prevent foreigners from speculating in sterling exchange...

Author: /time Magazine | Title: INTERNATIONAL: Mighty Marbles | 10/12/1931 | See Source »

...Philip Snowden, a final throwing overboard of his last Socialist principles, a break with countless friends...

Author: /time Magazine | Title: GREAT BRITAIN: 'National Fight? | 10/5/1931 | See Source »

...York Federal Reserve Bank and the Bank of France loaned Britain $243,000,000. That went too. Ramsay MacDonald resigned as Laborite Prime Minister and headed a coalition cabinet. France and New York arranged $400,000,000 more credit and that was exhausted while Chancellor Snowden was making drastic efforts to balance the budget. Last week the British Atlantic Fleet mutinied in protest at their prospective wage cut (see p. 20) and next day London learned that Britain's gold reserves were down to ?59,742,000. Scot MacDonald rushed up to London and summoned the House of Lords...

Author: /time Magazine | Title: GREAT BRITAIN: Run | 9/28/1931 | See Source »

...this crisis, it is to England's advantage that she has a strong constitution that her people are accustomed to going about their business in times of stress and that, in MacDonald and Snowden, she is attended by skillful surgeons...

Author: NO WRITER ATTRIBUTED | Title: "Patient Should be Stronger Than Ever After Emergency Operation," Says Roorbach of Great Britain in Crisis | 9/23/1931 | See Source »

...Bill on its second reading: 310 to 253. Next, it was expected, would come discussion of a tariff. Reported leader of the movement was Liberal Sir John Simon, who had been wavering for many a month. Should a tariff eventuate, first to resign his job would be little Philip Snowden, stout free-trader...

Author: /time Magazine | Title: GREAT BRITAIN: England Yet Shall Stand | 9/21/1931 | See Source »

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