It was a handful of Treasury offi cials who played a crucial role in orchestrating this turn of events— a turn that had been unimaginable in the immediate aft ermath of the Great War. In their role as controllers of fi nance during the turbulent postwar years, Basil Blackett and Otto Niemeyer had the largest sway over the chancellor of the exchequer, the head of the Treasury. Th ey did not have to worry about political reelection, and their names were not under the public eye; thus these experts could act behind the scenes to shape and rationalize austerity.

Clara E. Mattei, The Capital Order, loc. 829