ABSTRACT
The new Conservative administration took office in November 1924, with Baldwin once again at its head, though in other respects it was a very different administration from that which lost to Labour in late 1923. By playing the protectionist card in 1923 Baldwin had ‘detached its supporters’ such as Austen Chamberlain from the Lloyd George Coalition, but by renouncing protectionism in 1924 he ‘detached its opponents also’ and had won Winston Churchill to the Conservative side.1 Chamberlain was appointed Secretary of State for Foreign Affairs, while Churchill became Chancellor of the Exchequer. The rifts in the Conservative Party were beginning to heal, though Baldwin had to spend a considerable amount of time and effort in ensuring that his team pulled together.
