Parliament, John Bull, bankruptcy Horatio Bottomley

horatio bottomley, maiden speech, house of commons, 20 february 1906

in general election of january 1906 bottomley again liberal candidate hackney south. after vigorous campaign defeated conservative opponent more 3,000—the largest liberal majority in london, informed house of commons in maiden speech on 20 february 1906. according hyman, speech received in chilling silence house aware of bottomley s chequered reputation. on following months , years overcame of initial hostility, partly self-deprecating humour (as when described himself more or less honourable ) because populist approach legislation attractive. proposed rational reforms of betting industry , of licensing hours, , introduction of state old age pensions. revenues raised, suggested, stamp duty on share transfers, taxes on foreign investment, , appropriating dormant bank balances. drew government s attention long hours worked domestic servants, , introduced private bill limiting working day 8 hours. privately confided journalist frank harris ambition become chancellor of exchequer.

ernest hooley, financier bottomley s partner in several schemes

alongside parliamentary duties, bottomley engaged in launching biggest , boldest publishing venture, weekly news magazine john bull, half of initial capital provided hooley. first issue on 12 may 1906 john bull adopted tabloid style that, despite occasional lapses in taste, proved immensely popular. among regular features, bottomley revived world, flesh , devil column sun, , adapted paper s slogan: if read in john bull, . bottomley persuaded julius elias, managing director of odhams limited, handle printing, chaotic financial management meant odhams paid. situation resolved when entire management of magazine, including handling of receipts , payments, transferred elias, leaving bottomley free concentrate on editing , journalism. circulation rose rapidly, , 1910 had reached half million copies.

in june 1906 bottomley announced john bull investment trust, in which, minimum subscription of £10, investors share special , exclusive information obtainable result of extensive city experience . bottomley s earlier city activities coming under scrutiny, particularly multiple reconstructions of now-bankrupt joint stock trust company. after long investigation, bottomley did frustrate, in december 1908 summoned appear @ guildhall justice room, before court of aldermen. hansard prosecution, case against bottomley appeared overwhelming; share issues in joint stock trust had been repeatedly re-issued, perhaps many 6 times. once again bottomley succeeded in obscuring details and, power of courtroom oratory, persuaded court summons should dismissed.

one of prosecuting team @ guildhall observed long time before risked prosecution against bottomley: might ... grow careless, , fail . despite adverse publicity, bottomley returned electors of hackney south @ each of 2 1910 general elections; tactics included recruiting men in boots tipped , heeled iron, marched outside opponent s meetings , rendered speeches inaudible. in june 1910 founded john bull league, mission promote commonsense business methods government; readers of magazine join league shilling (5p) year. although still nominally liberal, bottomley had become trenchant critic of party, , aligned himself conservative opposition in attacking asquith s government.

bottomley s parliamentary ambitions halted in 1912, when sued £49,000 1 of joint stock trust victims. unable pay, , massive debts, bankrupted liabilities totalling £233,000. since bankrupts ineligible sit in house of commons, had resign seat; after departure future lord chancellor, f. e. smith, wrote [h]is absence house of commons has impoverished public stock of gaiety, of cleverness, of common sense . prior bankruptcy, bottomley had ensured main assets legally owned relatives or nominees, , able continue extravagant lifestyle. john bull remained ample source of funds, , bottomley boasted although nominally bankrupt, never had better time in life—plenty of money , else want .

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