On April 5, 1929, Britain's much-anticipated parliamentary election finally drew to a close, with the Labour Party winning by a narrow margin.
At the end of June, George V appointed Labour Party leader MacDonald as prime minister of the new cabinet, entrusting him with the formation of Britain's new government.
History had turned to a new page once more. The Labour cabinet, having only just gained power, had no idea what kind of mess it was about to face.
Britain's economy still appeared prosperous on the surface, with every contradiction concealed beneath that false prosperity.
Following its electoral defeat, the financial reform policies drawn up by the Conservative Party government naturally departed along with the outgoing administration.
A whole mountain of chaotic affairs now required the MacDonald Cabinet's attention—for instance, the aftermath of the rebellion in the Southeast Asian colonies, the ongoing war in Afghanistan, and London's much-debated smog problem.
Amid their hectic work, the MacDonald Cabinet naturally failed to notice that Britain's economy was already in danger, with an economic crisis ready to erupt at any moment.
With the intention of digging a pit for their political rivals, the previous Conservative Party government had merely filed away the preparatory work it had done. No one reminded them to pay attention to it.
In the days that followed, the first trouble facing the MacDonald government was the issue of soldiers' compensation.
As the Southeast Asian war came to an end, the numbers of dead and wounded soldiers were gradually compiled. During the Conservative Party government's tenure, benefits had already been raised substantially to spur the soldiers' fighting spirit, including compensation payments.
The compensation for each fallen soldier now included: a £3,000 death benefit, £0–1,500 in children's education subsidies, and £500–2,000 in compensation for the family's emotional suffering.
On average, the