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Sunday, July 19, 2020

A trip to the last century!

1929: Churchill's budget

Before becoming Britain’s prime minister in 1940, Winston Churchill served as the chancellor of the exchequer, which acts as the nation’s treasurer. The British leader oversaw the treasury’s decision to return to the gold standard, a move many historians have called a mistake. This led to deflation, deepened the Great Recession, increased unemployment, and prompted the General Strike of 1926. This Getty photo shows Churchill with his daughter Diana as they walk to London’s House of Commons to present his budget.

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