(3 of 3)
But it was outside the House of Commons, in the terrifying maze of supply & demand, production and incentive, sterling and dollar, that the real test of Britain's new policy would be made. On that testing ground, the contents of Rab Butler's little red box last week scored an almost immediate, if tentative, success. Three days after the budget box was opened. Britain's pound sterling climbed in the world market to its highest level since before devaluation in September 1949. In New York, it rose to $2.81⅛, more than a penny above par.