1-158-914 - Oxford Science Archive/Heritage Images

Marconi Shares Scandal, 1913. In 1911 the British government decided to award a contract to the Marconi Wireless Telegraph Company to erect state-owned radio stations across the British Empire. Although the contract was not made public, Marconi shares rose from £2.43 in 1911 to £9 in April 1912. Members of the government were accused of dealing in the shares on the London Stock Exchange using private political information. The share dealing scandal nearly brought about Lloyd George's ruin. In 1913 a parliamentary enquiry found the ministers may have acted thoughtlessly, carelessly or mistakenly, but that they had acted innocently, honestly and openly. Captain Feddup is using the same words to excuse his failure on an army exercise. Cartoon from Punch. (London, 1913).