In 1934 I warned Mr. Baldwin that the Germans had a secret Air Force and were rapidly overhauling ours. I gave definite figures and forecasts. Of course, it was all denied with all the weight of official authority. I was depicted a scaremonger. Less than six months after Mr. Baldwin had to come down to the House and admit he was wrong. ... He got more applause for making this mistake, which may prove fatal to the British Empire and to British freedom, than ordinary people would do after they rendered some great service which added to its security and power. Well, Mr. Chamberlain was, next to Mr. Baldwin, the most powerful Member of that Government. He was Chancellor of the Exchequer. He knew all the facts. His judgment failed just like that of Mr. Baldwin and we are are suffering from the consequences today. - Winston Churchill

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