No More Champagne: Churchill and His Money

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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.

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About the author

David Lough studied history at Oxford under Richard Cobb and Theodore Zeldin. After a career in financial markets, he founded a business that advises families on looking after their investments, tax affairs and estates. No More Champagne is his first book.
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Additional Information

Publisher
Picador
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Published on
Nov 3, 2015
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Pages
448
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ISBN
9781250071279
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Language
English
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Genres
Biography & Autobiography / Presidents & Heads of State
History / Europe / Great Britain / 20th Century
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Content Protection
This content is DRM protected.
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Available on Android devices
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Eligible for Family Library

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“Engrossing…the first formal biography of a woman who has heretofore been relegated to the sidelines.”–The New York Times

A long overdue tribute to the extraordinary woman who was Winston Churchill’s closest confidante, fiercest critic and shrewdest advisor that captures the intimate dynamic of one of history’s most fateful marriages, from the author of A Woman of No Importance: The Untold Story of the American Spy Who Helped Win World War II

Late in life, Winston Churchill claimed that victory in the Second World War would have been “impossible” without the woman who stood by his side for fifty-seven turbulent years. Why, then, do we know so little about her? In this landmark biography, a finalist for the Plutarch prize, Sonia Purnell finally gives Clementine Churchill her due.

Born into impecunious aristocracy, the young Clementine Hozier was the target of cruel snobbery. Many wondered why Winston married her, when the prime minister’s daughter was desperate for his attention. Yet their marriage proved to be an exceptional partnership. "You know,"Winston confided to FDR, "I tell Clemmie everything."
 
Through the ups and downs of his tumultuous career, in the tense days when he stood against Chamberlain and the many months when he helped inspire his fellow countrymen and women to keep strong and carry on, Clementine made her husband’s career her mission, at the expense of her family, her health and, fatefully, of her children. Any real consideration of Winston Churchill is incomplete without an understanding of their relationship. Clementine is both the first real biography of this remarkable woman and a fascinating look inside their private world.
 
"Sonia Purnell has at long last given Clementine Churchill the biography she deserves. Sensitive yet clear-eyed, Clementine tells the fascinating story of a complex woman struggling to maintain her own identity while serving as the conscience and principal adviser to one of the most important figures in history. I was enthralled all the way through." –Lynne Olson, bestselling author of Citizens of London 

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