No More Champagne

No More Champagne

Churchill and His Money

Book - 2015
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"Meticulously researched by a senior private banker now turned historian, No More Champagne reveals for the first time the full extent of the iconic British war leader's private struggle to maintain a way of life instilled by his upbringing and expected of his public position. Lough uses Churchill's own most private records, many never researched before, to chronicle his family's chronic shortage of money, his own extravagance and his recurring losses from gambling or trading in shares and currencies. Churchill tried to keep himself afloat by borrowing to the hilt, putting off bills and writing 'all over the place'; when all else failed, he had to ask family or friends to come to the rescue. Yet within five years he had taken advantage of his worldwide celebrity to transform his private fortunes with the same ruthlessness as he waged war, reaching 1945 with today's equivalent of £3 million in the bank. His lucrative war memoirs were still to come. Throughout the story, Lough highlights the threads of risk, energy, persuasion, and sheer willpower to survive that link Churchill's private and public lives. He shows how constant money pressures often tempted him to short-circuit the ethical standards expected of public figures in his day before usually pulling back to put duty first--except where the taxman was involved"--Provided by publisher.
Publisher: New York : Picador, 2015
Edition: First U.S. edition
Copyright Date: ©2015
ISBN: 9781250071262
1250071267
Branch Call Number: 92 C4758L 2015
Characteristics: xii, 532 pages, 24 unnumbered pages of plates : illustrations ; 25 cm

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tirjan
Jun 27, 2016

Lough reveals at length a side of Winston Churchill that many people never realized: he was skating on very this ice financially his whole life. He lived a pretty lavish lifestyle but it was on borrowed money. It seems he and his wife, Clementine, just couldn't control their expenditures any more than could Winston's mother, Jennie Jerome. To dodge the bill collectors and tax men in Britain and the US, Churchill speculated in many things besides writing: stock market and real estate speculation, horse racing, casino gambling, farming, painting, consultation on films and so on. Worse, he never stinted on spending for fine food, wine and liquor, cigars and clothes and tailoring. Were it not for close friends (and he had many over the year) Chruchill's personal life might have been commonplace. As it turned out, it wasn't.

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