Subjects include: Cabinet's agreement with Churchill's scheme for deregulation of local taxation [the De-rating Bill]; the farm and garden at Chartwell [Kent], particularly the swans and the sheep; the court martial of Kenneth Dewar; concerns for the health of Sir Arthur Steel-Maitland; Randolph Churchill's development at Eton, method of argument and problem with authority; fees for articles and future work [on volume 4 of "The World Crisis"]; work on the Budget speech, April 1928; stay with the 2nd Duke of Westminster and [Gabrielle] "Coco" Chanel in Scotland, May 1928; the American Presidential Election; the Chartwell electricity supply; Mary Churchill [later Mary Soames]'s cottage; the split in the Conservative Party between protectionism and free trade; visiting Balmoral, September 1928, meeting the baby Princess Elizabeth [later Queen Elizabeth II] and shooting with King George V; Clementine having to go into [Preston Deanery Hall nursing home]; Churchill's concern at Herbert Hoover becoming President of the United States and the results for Britain; going to see "Young Woodley" at the theatre; a talk with 1st Lord Beaverbrook [earlier Max Aitken], his decision not to help the Conservatives in the next General Election and view that Churchill's time would come once they were in Opposition; the American attitude to Europe; a plan for a biography of 1st Duke of Marlborough; the progress of the De-rating Bill.