Signed book: Lord Randolph Churchill, Volumes I and II. First edition. London: Macmillan and Co. Limited, 1906. Hardcover, 5.75 x 8.75, 564 and 531 pages. Signed and inscribed on the third free end page of Volume I, “To Lord Welby from Winston S. Churchill, 1 Jan 1906.” Autographic condition: fine, with some mild edge toning to signed page. Book condition: VG-/None. Reginald Earle Welby (1832-1915) served as permanent secretary to the treasury from 1885–1894. Following his retirement he was raised to the peerage as Baron Welby of Allington in the County of Lincoln. In Volume II of this biography, Churchill quotes at length of Welby’s impression of his father when he became Chancellor of the Exchequer in 1886.