Foreign News: The Iron Chancellor

For the first time in almost ten years of war and austerity, the lights of London, including Piccadilly's advertising signs (see cut), were turned up to their prewar glory. Thousands of Londoners cheered, and moppets who had never seen the show murmured with delight. This was a happy prelude to an otherwise depressing week for Britain. In the House of Commons, Chancellor of the Exchequer Sir Stafford Cripps presented his 1949-50 budget. Under his severe guidance, Britain had sweated, toiled, and made a sensational recovery (TIME, March 28). Now, the nation felt, it was due for something more than the lights...

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!