I want to urge him again not to be too frightened of the City of London. Since the War the City of London has been invariably wrong in advising the Government, not merely in the advice which it gave us, and the advice which it gave to the late Government, but in the advice it is giving now. ... [D]o not let the Government run away the moment a few volleys are fired from the City of London. It may save them trouble for a short time but no progressive Government can survive long under the protection of the white flag.

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "I want to urge him again not to be too frightened of the City of London. Since the War the City of London has been invariably wrong in advising the Government, not merely in the advice which it gave us, and the advice which it gave to the late Government, but in the advice it is giving now. ... [D]o not let the Government run away the moment a few volleys are fired from the City of London. It may save them trouble for a short time but no progressive Government can survive long under the protection of the white flag." in the context of "Speech in the House of Commons (12 February 1931)" to mean that wisdom is timeless.