Our position is such that we could not 'integrate' our economy into that of Europe in any manner that would prejudice the full discharge of these other responsibilities. At the same time, Britain regarded herself as bound up in western Europe, not only in economic, strategic and political interests, but in our culture and indeed in our participation in the heritage of Christian civilization.
British politician, lawyer and diplomat (1889–1952)
Sir Richard Stafford Cripps (24 April 1889 – 21 April 1952) was a British Labour Party politician, barrister, and diplomat. He served as British Ambassador to the Soviet Union at the beginning of World War II, and later joined Prime Minister Winston Churchill's war cabinet. He later served as President of the Board of Trade and Chancellor of the Exchequer under Prime Minister Clement Attlee.
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Alternative Names:
Richard Stafford Cripps
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Sir Richard Stafford Cripps
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The Government decided...to reduce the dollar exchange value of the pound sterling. In the last few days we have settled what the new rate should be and now I have to tell you of that decision; it is that in place of the present rate, fixed in 1946, of $4 3c. for the pound the rate will in future be $2 80c. to the pound.
Though we have achieved considerable success in our policy of increasing production and maintaining full employment, this has been accompanied by constant pressure for higher wages resulting in higher prices. We have not yet found out how we can maintain full employment in combination with stable or decreasing costs and prices.
Production, and production alone, can find us relief in our immediate situation. It is no part of the British character to resign ourselves to such difficulties or to fail to take the measures, however hard, to overcome them. It has been truly said that by our faith we can move mountains. It is by our faith in ourselves, in our country, in the free democratic traditions for which the people of this country have for centuries fought and battled, and for which they must fight again as willingly on the economic front as upon the oceans, on the land and in the air, it is by our faith in the deep spiritual values that we acknowledge in our Christian faith, that we shall be enabled and inspired to move the present mountains of our difficulties, and so emerge into that new and fertile plain of prosperity which we shall travel in happiness only as the result of our own efforts and our own vision.
We must bring home to the people the seriousness of the country's present plight and the future problems that we face. We must convince them of their power to overcome all difficulties by common effort. We must draw out from people that courage and determination which have always been the hallmarks of the British character.
...we must avoid a competitive raising of wages and conditions in a scarce labour market, which raises prices. ... If we allow prices to rise because of internal costs rising, we shall lose and not gain our overseas markets, or at least not be able to gain new ones in the competition. Therefore, incentives must be strictly limited to increased production so that more earnings mean more production. We cannot in any circumstances afford to pay more for the same or less production. We must await the further raising of the levels of earnings until we can provide the goods upon which those earnings can be spent. In the same way, let me point out, that large profits drawn from industry today are just as inimical because they, too, raise the price levels and, furthermore, they offer an immediate temptation for the demand for greater salaries.
Money cannot make armaments. Armaments can only be made by the skill of the British working class, and it is the British working class who would be called upon to use them. To-day you have the most glorious opportunity that the workers have ever had if you will only use the necessity of capitalism in order to get power yourselves. The capitalists are in your hands. Refuse to make munitions, refuse to make armaments, and they are helpless. They would have to hand the control of the country over to you.