Gnomes Of Zurich

Traders and financiers all over the world had listened to the Chancellor. He had said that if he could not stop wage claims the country was facing disaster. Rightly or wrongly, these people believed the Chancellor. On September 5th, when the T.U.C. unanimously rejected wage restraint, it was the end of an era, and all the financiers, all the little gnomes in Zurich and other financial centres, had begun to make their dispensations in regard to sterling.

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