Conclusion: Men, Money and Diplomacy, 1919–26
During the 1920s Treasury control and the ten-year rule did not always dominate strategic policy. They became decisive only in 1926–28 and then as a convenient means for the government to enforce the policy of its choice. A dynamic inter-relationship between foreign, financial and service policies instead determined the formulation of strategic policy. Britain believed that any service programme which was not absolutely essential for security would be economically and diplomatically counterproductive. It placed a higher marginal value on social reform and debt redemption than on service spending yet fully intended to preserve its security. The requirements of foreign policy determined Britain’s answer to the question of strategic policy: how to draw the balance between the military forces Britain appeared to need and those which it seemed able to afford. These answers varied widely, as they had always done.
KeywordsDepression Europe Defend Stampede
Unable to display preview. Download preview PDF.