Despite the promise of Morgan money, the cabinet remained split over the cuts in unemployment benefits, and that evening the prime minister went to Buckingham Palace to tender his government’s resignation. Two days later, the Daily Herald, official organ of the Labor Party, believing erroneously that the telegram had come from the Fed and not from Morgan, carried a photograph of George Harrison on its front page under the headline “Banker’s Ramp,” a ramp being a fraudulent move by financiers to manipulate the market.
