An Edwardian political‐financial controversy. The scandal arose out of a contract between the English Marconi Company and the British government for the construction of a chain of wireless stations. Lloyd George (chancellor of the Exchequer) and Alexander Murray (Liberal chief whip) bought shares at £2 each in the American Marconi Company before they went on sale to the public at a price of £3.50. This led to the appointment of a House of Commons select committee. Though it exonerated the ministers, its verdict was a party political one, for Murray had purchased additional shares for Liberal Party funds.
Subjects: British History.