Britain prepared to cinch its social revolution a little tighter. New Year's Day would be Vesting Day, so-called because on that day title to coal mines and the cable & wireless industry would be taken from private ownership and vested in the Government.*

For the occasion, Conservatives predicted a socialist saturnalia. Under a headline, "Shinwell celebrates—with 1,000 guests," London's Tory tabloid Daily Graphic told of plans for washing down coal nationalization with highballs served on silver salvers in a paneled, specially heated room. Fuel Minister Emanuel Shin-well issued an immediate denial, announced...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!