Rise of Neville Chamberlain which became the City of Birmingham Symphony Orchestra was initiated. The Lord Mayor persuaded Sir Thomas Beecham to conduct a series of events in Birmingham. The concerts caused Birmingham to be regarded as a cultural centre, and in 1919, the Orchestra was formally founded. Chamberlain established the Birmingham Municipal Bank, the only one of its type in the country, which aimed to encourage savings to pay for the war loan. The bank proved highly successful and lasted until 1976, when it was taken over by Lloyds Bank. Chamberlain was re-elected Lord Mayor in 1916, but he did not complete his
Rise of Neville Chamberlain Conference, Chamberlain presented his first budget, in April 1932. The gold standard had been abandoned in the early days of the National Government; the Bank of England sought its restoration. Chamberlain, on advice from his officials, declined to restore the gold standard, realising that a devalued pound would improve the balance of trade. Otherwise, Chamberlain maintained the severe budget cuts that had been agreed to at the inception of the National Government: Chamberlain cut means-tested benefits and public sector wages, which proved to be an unpopular move. He also cut interest rates, which led to a house-building boom in the