ECONOMICS: Devaluation

All day Sunday the BBC repeated a solemn announcement that "the Right Honorable Sir Stafford Cripps, Chancellor of the Exchequer," would have something important to say at 9:15 that evening. When the hour came, Sir Stafford, in clipped, clear accents, spoke into a microphone at No. 10 Downing Street: "Good evening. I don't think I need tell you that I've just got back from the United States, where I have spent the last fortnight with the Foreign Secretary trying to work out, with our Canadian and American friends, some solution to a...

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