At the 1906 general election, in which the Liberal Party won a landslide victory, Money became Liberal MP for
Paddington North. A future Conservative
Lord Chancellor
The lord chancellor, formally the lord high chancellor of Great Britain, is the highest-ranking traditional minister among the Great Officers of State in Scotland and England in the United Kingdom, nominally outranking the prime minister. Th ...
,
F.E. Smith
Frederick Edwin Smith, 1st Earl of Birkenhead, (12 July 1872 – 30 September 1930), known as F. E. Smith, was a British Conservative politician and barrister who attained high office in the early 20th century, in particular as Lord High Chan ...
(later Lord Birkenhead), who also entered Parliament in 1906, poured sarcasm on the Free Trade aspects of Money's campaign (as he did on those of others), claiming that "with an infinitely just appreciation of his own controversial limitations,
oney Oney may refer to:
* Oney, France, a subsidiary of French Auchan Holding and Banque Accord
* Oney, Oklahoma, an unincorporated community in Oklahoma
* "Oney" (song), a song written by Jerry Chesnut and sung by Johnny Cash, 1972
* Oney Judge, a ...
relied chiefly on the intermittent exhibition of
horse sausages as a witty, graceful and truthful sally at the expense of the great German nation"
Money lost his seat at the
January 1910 election, fought principally on the issue of the "
People's Budget
The 1909/1910 People's Budget was a proposal of the Liberal government that introduced unprecedented taxes on the lands and incomes of Britain's wealthy to fund new social welfare programmes. It passed the House of Commons in 1909 but was blo ...
" delivered by Lloyd George as
Chancellor of the Exchequer in 1909, but in
December 1910 was elected for
East Northamptonshire
East Northamptonshire was from 1974 to 2021 a local government district in Northamptonshire, England. Its council was based in Thrapston and Rushden. Other towns include Oundle, Raunds, Irthlingborough and Higham Ferrers. The town of Rushde ...
in the second general election of that year. He held that seat until 1918.
Protégé of Lloyd George
![David Lloyd George 1902](https://upload.wikimedia.org/wikipedia/commons/7/71/David_Lloyd_George_1902.jpg)
Lloyd George, who became Chancellor in 1908, valued Money's ability to develop innovative ideas; in 1911 he thanked him specifically for his "magnificent service" in relation to the new
national insurance
National Insurance (NI) is a fundamental component of the welfare state in the United Kingdom. It acts as a form of social security, since payment of NI contributions establishes entitlement to certain state benefits for workers and their fami ...
scheme and the following year contributed an introduction to his study of the Act and its purpose, published as ''Insurance Versus Poverty''. In 1912 Money was active also in following up the sinking of the , soliciting from the President of the Board of Trade (
Sydney Buxton) an early breakdown of the number of passengers saved by class and gender. The figures showed, among other things, that, while 63% of first class passengers had survived, only 25% in third class had done so, including a mere 16 of 767 men in third class.
Despite Money's apparent alignment with Lloyd George, he produced various articles early in 1914 that drew attention to reductions in naval expenditure at a time when Germany was increasing such spending. He appears to have received private assistance in this regard from Churchill, who by then had a vested interest as
First Lord of the Admiralty
The First Lord of the Admiralty, or formally the Office of the First Lord of the Admiralty, was the political head of the English and later British Royal Navy. He was the government's senior adviser on all naval affairs, responsible for the di ...
. Churchill offered Money flattering encouragement, while his office supplied him with various statistics (making clear, however, that such data were already available in published documents). In thanking Money for his articles, Churchill added that he was "keeping the proof to encourage the Chancellor
'i.e.'' Lloyd George
When Lloyd George became
Minister of Munitions
The Minister of Munitions was a British government position created during the First World War to oversee and co-ordinate the production and distribution of munitions for the war effort. The position was created in response to the Shell Crisis o ...
in 1915, during the
First World War
World War I (28 July 1914 11 November 1918), often abbreviated as WWI, was one of the deadliest global conflicts in history. Belligerents included much of Europe, the Russian Empire, the United States, and the Ottoman Empire, with fightin ...
, he appointed Money as his
parliamentary private secretary (PPS). Money was
knight
A knight is a person granted an honorary title of knighthood by a head of state (including the Pope) or representative for service to the monarch, the church or the country, especially in a military capacity. Knighthood finds origins in the Gr ...
ed in the same year.
In December 1916 Lloyd George replaced
Asquith as Prime Minister. Money was initially
Parliamentary Secretary (a junior ministerial post) for both pensions and shipping in the re-organised coalition government, although he held the former portfolio for only two weeks, later claiming, rather improbably, that he had "drafted the new Pensions scheme of 1917".
Ministry of Shipping
Money's Minister (or Controller) at the new
Ministry of Shipping was Sir
Joseph Maclay, a Scottish shipowner who, unusually, sat in neither House of Parliament, as a result of which Money was the ministry's spokesman in the
Commons
The commons is the cultural and natural resources accessible to all members of a society, including natural materials such as air, water, and a habitable Earth. These resources are held in common even when owned privately or publicly. Commons c ...
(with his own PPS,
Thomas Owen Jacobsen
Thomas Owen Jacobsen (23 April 1864 – 15 June 1941) was a British businessman and Liberal politician. He was born in Richmond Terrace, Liverpool, on 23 April 1864, and was the son of a naturalised Dane."Resignation of Mr Neilson", ''The Times ...
). Maclay, who was himself strong willed and very self-disciplined, at first resisted Money's appointment, describing him to Lloyd George as "very clever – but impossible,
iving Iving may refer to:
*Intravenous therapy
Intravenous therapy (abbreviated as IV therapy) is a medical technique that administers fluids, medications and nutrients directly into a person's vein. The intravenous route of administration is commonly ...
in an atmosphere of suspicion and distrust of everyone – satisfied only with himself and his own views". However, Lloyd George stuck by the appointment and, in the event, the two men appear to have worked in reasonable harmony. Among Money's particular achievements was developing the policy of concentrating British merchant shipping in the North
Atlantic
The Atlantic Ocean is the second-largest of the world's five oceans, with an area of about . It covers approximately 20% of Earth's surface and about 29% of its water surface area. It is known to separate the " Old World" of Africa, Europe an ...
, allowing it to be better defended against German
U-boats
U-boats were naval submarines operated by Germany, particularly in the First and Second World Wars. Although at times they were efficient fleet weapons against enemy naval warships, they were most effectively used in an economic warfare rol ...
and leaving transport of goods around the world to ships of other nationalities. By the time of the
Zeebrugge raid
The Zeebrugge Raid ( nl, Aanval op de haven van Zeebrugge;
) on 23 April 1918, was an attempt by the Royal Navy to block the Belgian port of Bruges-Zeebrugge. The British intended to sink obsolete ships in the canal entrance, to prevent Germ ...
in April 1918, the use of convoys had largely contained the threat from U-boats, with every troopship of American reinforcements over the previous two months having arrived safely.
Labour Party candidate and the Sankey Commission
After the war Money left the Liberal Party for
Labour, principally over the issues of nationalisation and redistribution of wealth through taxation which, in contrast with most Liberals, he supported. He argued also that substantial investment in organisation and technology would be required to stem economic decline and regretted both the coalition's lack of commitment to free trade and intention to defer
Home Rule
Home rule is government of a colony, dependent country, or region by its own citizens. It is thus the power of a part (administrative division) of a state or an external dependent country to exercise such of the state's powers of governance wit ...
for Ireland. Money resigned his government post shortly before the so-called
"Coupon" election of 1918, in which, standing as a Labour candidate for
South Tottenham, he lost by 853 votes to the Conservatives' Major
Patrick Malone (who, because of local differences over his candidature, had not received the
coalition coupon
The Coalition Coupon was a letter sent to parliamentary candidates at the 1918 United Kingdom general election, endorsing them as official representatives of the Coalition Government. The 1918 election took place in the heady atmosphere of victory ...
).
The following year Money was a member of the
Royal Commission established under the
Coal Industry Commission Act 1919 and led by
Sir John Sankey, that examined the future of the coal-mining industry. He was one of three economists on the commission, all broadly favourable to the miners, the others being
Sidney Webb and
R. H. Tawney
Richard Henry Tawney (30 November 1880 – 16 January 1962) was an English economic historian, social critic, ethical socialist,Noel W. Thompson. ''Political economy and the Labour Party: the economics of democratic socialism, 1884-2005''. 2nd ...
. Others were appointed from business and the trade unions. No agreement was reached and, when the commission reported in June 1919, it offered four separate approaches ranging from full
nationalisation to untrammelled private ownership.
The public impact of the report was such that, in
Ben Travers
Ben Travers (12 November 188618 December 1980) was an English writer. His output includes more than 20 plays, 30 screenplays, 5 novels, and 3 volumes of memoirs. He is best remembered for his long-running series of farces first staged in the ...
' comic novel ''
A Cuckoo in the Nest
''A Cuckoo in the Nest'' is a farce by the English playwright Ben Travers. It was first given at the Aldwych Theatre, London, the second in the series of twelve Aldwych farces presented by the actor-manager Tom Walls at the theatre between 1923 ...
'' (1921), the Rev. Cathcart Sloley-Jones, under the illusion that he was addressing a member of parliament, "lowered his voice into a rather sinister whisper: 'What is Lloyd George's real view of the miners' report?'"
Money unsuccessfully fought the
Stockport by-election for Labour in a seven-sided contest in 1920.
Later life
Money did not hold ministerial office nor sit in Parliament again after 1918. Therefore, with Lloyd George being forced out as Prime Minister in 1922, his political career was effectively over by the early 1920s. He continued to work as a financial journalist and author, and contributed views in other ways. For example, in 1926 (the year of the
General Strike), he criticised as "utterly humourless" a
BBC #REDIRECT BBC #REDIRECT BBC
Here i going to introduce about the best teacher of my life b BALAJI sir. He is the precious gift that I got befor 2yrs . How has helped and thought all the concept and made my success in the 10th board exam. ...
...
radio talk in which Father