The Years of Peace, 1923–34

Ian Lloyd

Chapter 7 in Rolls-Royce, 1978, pp 83-103 from Palgrave Macmillan

Abstract: Abstract The impression is widely held that the years before the depression were years of calm and prosperity, a gilt if not golden age of British industry. The previous discussion of the many vicissitudes which accompanied the attempt of Rolls-Royce to manufacture in the United States might well have given the impression that in England the parent company, secure in the possession of its partial monopolies over the expensive tastes of the wealthy and the patronage of the Air Ministry, trod a relatively stable and secure path, enhancing from year to year its reputation, its reserves and its economic security. Since it was one of the few companies in the automobile or aircraft industries which paid a dividend throughout this period it is not surprising that this should be so. The world does not normally look behind the facade of success. When the achievement is almost unique it is more satisfying to human nature to attribute this to unusual good fortune or privilege rather than exceptional endeavour.

Keywords: Cylinder Block; Economy Campaign; British Industry; Secure Path; Royalty Revenue (search for similar items in EconPapers)
Date: 1978
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-03914-2_7

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DOI: 10.1007/978-1-349-03914-2_7

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