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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 … - Stafford Cripps
" "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.
English
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About Stafford Cripps
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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Richard Stafford Cripps
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Sir Richard Stafford Cripps
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Additional quotes by Stafford Cripps
Unless during the first five years so great a degree of change has been accomplished as to deprive Capitalism of its power, it is unlikely that a Socialist Party will be able to maintain its position of control without adopting some exceptional means, such as the prolongation of the life of Parliament for a further term without an election.
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