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The other men of the wartime coalition [during WWI] were likewise in abeyance, though Churchill, with his readiness to serve in any government at any time on any terms, had, to everyone’s surprise, been made Chancellor of the Exchequer by the new Conservative leader, Stanley Baldwin. At the Treasury he did all the things he afterwards denounced; returning to the Gold Standard, cutting armaments to the bone, raiding the Road fund, etc., etc. His only point of serious difference with the new leadership proved to be the extension of self-government in India, the single item in their programme which history was to justify.

Malcolm Muggeridge

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