Subjects include: progress on Philip Tilden's improvement works at Chartwell [Kent] and plans for a tree house; talks with Stanley Baldwin [Prime Minister] on subjects including oil [a proposed merger between the Anglo-Persian Oil Company, Royal Dutch Shell and Burmah Oil] and the Ruhr [Germany] and 1st Lord Beaverbrook [earlier Max Aitken]'s view of Baldwin's pro-German stance; work on ["The World Crisis"] and trouble with the serial rights; the pessimism of Lord Grey and J L Garvin on the future of Europe; Churchill's decision to sue the Evening News for libel; hopes of finding another constituency; the Lord Alfred Douglas libel case; further deals for articles by Churchill; a cruise on "Flying Cloud" [the yacht of 2nd Duke of Westminster]; Clementine's worries about the cost of Chartwell and Churchill's sources of income; Churchill's view of Benito Mussolini and the survival of the League of Nations.