Harold Wilson Quotes


It does not mean of course that the pound here in Britain in your pocket has been devalued .


Context

What the Prime Minister was trying to say is that the buying power had not been diminished suddenly for local and non-imported items.


Citations

Harold Wilson, 1916–1995, British Prime Minister (Labor), Statement on the devaluing of the British pound, November 19, 1967

Sourced by: Eigen's Political and Historical Quotations

Related Quotes

The assumption was that money would always be backed by gold or silver. In effect, raising or allaying the money was to change the amount of gold or silver that a particular denomination of money would be able to be exchanged for. This is one of the interesting proofs that these processes did nothing economically—for if they could, no one would want the money. This has always been a weakness or a strength—depending on one’s political point of view—of a gold standard.


While devaluation may have been intended to have the effect of stimulating exports and inhibiting imports, many countries have populations which feel “cheapened” by the process—that they are worth less as laborers and their raw materials are valued less in the eyes of the world.


Harold Wilson
Harold Wilson
  • Born: March 11, 1916
  • Died: May 24, 1995
  • Nationality: English
  • Profession: Statesman

James Harold Wilson, Baron Wilson of Rievaulx, KG, OBE, PC, FRS, FSS was Prime Minister of the United Kingdom twice, from October 1964 to June 1970, and again from March 1974 to April 1976. Wilson was the Leader of the Labour Party from 1963 to 1976, and was a Member of Parliament (MP) from 1945 to 1983.