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CHURCHILL, Winston S. Autograph manuscript fragment, unsigned. Portions of a speech delivered at Blenheim, 4 August 1947. 3½ pages, 4to, fastened by string at punch hole at top left , OVER 400 WORDS IN CHURCHILL'S HAND.
CHURCHILL, Winston S. Autograph manuscript fragment, unsigned. Portions of a speech delivered at Blenheim, 4 August 1947. 3½ pages, 4to, fastened by string at punch hole at top left , OVER 400 WORDS IN CHURCHILL'S HAND. CHURCHILL BLASTS THE "SOCIALIST GOVERNMENT" FOR FRITTERING AWAY U.S. LOANS ON "AMERICAN FILMS AND TOBACCO" The American "loan has been ineffective," Churchill tells the West Country Conservative Rally in this blistering attack on the Labour government. "Owing to the follies & indecision of the Socialist Government a great part of the loan has been spent not on the requirements of our industries, nor upon the import of basic foodstuffs. Instead it has been frittered away in American films & tobacco & a large quantity of foods & fruits which however desirable as indulgences were not indispensable to our active recovery." Why didn't the government act sooner, Churchill asks. They failed to take steps which "every prudent housewife would have taken in her own home as soon as she understood what was happening... No, they were too busy planning and making their brave new world of controls & queues, of hordes of officials & multitudes of regulations... & consumed their time & thoughts in carrying out their party fads...paralyzing business enterprise by nationalization laws of no production value, casting their threats & ultimatum far and wide over the whole field of British industry..." The Truman administration abruptly cancelled Lend Lease aid on 29 August 1945, leaving a nearly bankrupt Britain in desperate need of cash. John Meynard Keynes negotiated a $4 billion loan at 2 interest, which Britain only fully repaid in 2006. This address was later printed in The Speeches of Winston Churchill as "A Doctor's Mandate."