VICKY, 'REVIVAL', INK AND WATERCOLOUR, 1946

343 by 324mm., pen ink and watercolour with bodycolour, signed and inscribed with subtitle, inscribed with title below mount, mounted, framed and glazed

EXHIBITED:
‘The Illustrators. The British Art of Illustration 1837-2011’, Chris Beetles Gallery,
November 2011-January 2012, no 257

Condition is described in the main body of the cataloguing, where appropriate.
"In response to your inquiry, we are pleased to provide you with a general report of the condition of the property described above. Since we are not professional conservators or restorers, we urge you to consult with a restorer or conservator of your choice who will be better able to provide a detailed, professional report. Prospective buyers should inspect each lot to satisfy themselves as to condition and must understand that any statement made by Sotheby's is merely a subjective, qualified opinion. Prospective buyers should also refer to any Important Notices regarding this sale, which are printed in the Sale Catalogue.
NOTWITHSTANDING THIS REPORT OR ANY DISCUSSIONS CONCERNING A LOT, ALL LOTS ARE OFFERED AND SOLD AS IS" IN ACCORDANCE WITH THE CONDITIONS OF BUSINESS PRINTED IN THE SALE CATALOGUE."

During the Second World War, Britain had depleted much of its gold reserves purchasing munitions and weaponry. Churchill had been convinced of the impracticality of returning to a pre-war style gold standard and, by the time Clement Attlee (1883-1967) became Prime Minister in July 1945, Britain was on the verge of bankruptcy. The Bretton Woods System, signed in the United States by all 44 allied nations, fixed their exchange rates relative to the US dollar. The US promised to fix the price of gold at approximately $35 per ounce. As a result, all currencies pegged to the dollar had a fixed value in terms of gold. However, the British government did not ratify this agreement until they had agreed the Anglo-American Loan, which was signed on 15 July 1946, allowing Britain to borrow $4.33 billion from the United States, with the aim of boosting the British economy. Clement Attlee is portrayed as ‘The Tramp’, the down-on-his-luck Charlie Chaplin character seen in such films as The Gold Rush (1925) and City Lights (1931).