In what wistful British investors remember as "the dear-money war" of 1914-18 you could rent your patriotic funds to King & country for as much as 5%. A daring pilot in the Royal Air Force in those days was Major Sir John Allsebrook Simon, who then sported a thick mop of hair. Last week, now bald as an egg, Sir John Simon rose in the House of Commons as Chancellor of the Exchequer again to do his bit for King & country, this time by trying to make World War II definitely "a cheap-money war" so far as...

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