
In this episode, Ethan Reuter speaks with historian Taym Saleh about the 1924 general election—the autumn showdown that cemented Britain's two-party system and buried the Liberal Party as a national force. After three elections in just 23 months, Stanley Baldwin's Conservatives swept to a crushing 200-seat majority while Herbert Asquith lost his seat and the Liberals collapsed from 155 MPs to a mere 40.
The conversation explores how Britain's first Labour government, formed almost by accident after Baldwin's disastrous 1923 tariff gamble, became trapped between proving its respectability and surviving without a majority. Saleh explains how Ramsay MacDonald's attempts to normalize relations with Soviet Russia and his handling of the Campbell Case—when prosecution was dropped against a communist journalist who urged soldiers not to fire on striking workers—fueled Conservative warnings about socialist subversion and constitutional threats.
Then came the Zinoviev Letter: a forged document, supposedly from a senior Soviet official instructing British communists to infiltrate Labour, published by the Daily Mail days before the election. Though historians now know it was fabricated, likely by Russian émigrés in Berlin, it crystallized the campaign's fundamental question: was socialism un-British?
But the real story isn't about dirty tricks—it's about how Baldwin's mastery of radio broadcasting, his soothing constitutional rhetoric, and his genius for understanding what voters wanted transformed Conservative politics. While the Liberals produced innovative proto-Keynesian economics, they fielded only 300 candidates. Labour lost power but won clarity: they were now the sole progressive force. This is the election that killed three-party politics and established the socialism versus anti-socialism dividing line that would define British politics for generations.