As Parliament reassembled last week for a two-day debate of Britain's economic situation. Prime Minister Harold Macmillan's Conservatives were grim. Behind them was a series of defeats in by-elections; ahead of them, demands from 5,000,000 British workers, led by the railwaymen, for a new round of wage boosts. But Chancellor of the Exchequer Peter Thorneycroft doggedly stood the Tories' ground.
"Our measures are designed to make money scarcer and more expensive," he said, "to make it harder both to earn profits and to get wage increases." Thorneycroft announced that the government would...
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