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Marconi Shares Scandal, 1913. Artist: Leonard Raven-Hill
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Marconi Shares Scandal, 1913. Artist: Leonard Raven-Hill
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 Georges 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)
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Media ID 14866034
© Oxford Science Archive / Heritage-Images
Corruption Exercise Explaining Explanation Incompetence Leonard Leonard Raven Hill Military Manoeuvres Mounted Oxford Science Archive Raven Hill Scandal Military Personnel
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EDITORS COMMENTS
This print captures the essence of the Marconi Shares Scandal that shook Britain in 1913. Created by artist Leonard Raven-Hill, this cartoon from Punch magazine cleverly depicts the intertwining worlds of politics, finance, and corruption. The scandal began in 1911 when the British government secretly awarded a lucrative contract to the Marconi Wireless Telegraph Company for state-owned radio stations across its vast empire. Unbeknownst to the public, certain government officials took advantage of their privileged positions and engaged in insider trading on London Stock Exchange using private political information. As a result, Marconi shares skyrocketed from £2.43 to £9 within a year. However, their unethical actions did not go unnoticed or unpunished. The scandal threatened Prime Minister Lloyd George's reputation and nearly brought about his ruin. In 1913, a parliamentary inquiry concluded that while ministers may have acted thoughtlessly or carelessly, they ultimately did so innocently and honestly. In this satirical cartoon, Captain Feddup is seen using similar excuses to justify his failure during an army exercise. The image brilliantly highlights how incompetence can be masked with empty explanations even in military matters. Leonard Raven-Hill's artwork serves as a timeless reminder of the consequences that arise when power intersects with greed and deceitfulness within both political and military spheres.
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