Of mixed English and American parentage, Churchill was born in Oxfordshire to a wealthy, aristocratic family. He joined the British Army in 1895 and saw action in British India, the Anglo-Sudan War, and the Second Boer War, gaining fame as a war correspondent and writing books about his campaigns. Elected a Conservative MP in 1900, he defected to the Liberals in 1904. In H. H. Asquith's Liberal government, Churchill served as President of the Board of Trade and Home Secretary, championing prison reform and workers' social security. As First Lord of the Admiralty during the First World War, he oversaw the Gallipoli Campaign but, after it proved a disaster, he was demoted to Chancellor of the Duchy of Lancaster. He resigned in November 1915 and joined the Royal Scots Fusiliers on the Western Front for six months. In 1917, he returned to government under David Lloyd George and served successively as Minister of Munitions, Secretary of State for War, Secretary of State for Air, and Secretary of State for the Colonies, overseeing the Anglo-Irish Treaty and British foreign policy in the Middle East. After two years out of Parliament, he served as Chancellor of the Exchequer in Stanley Baldwin's Conservative government, returning the pound sterling in 1925 to the gold standard at its pre-war parity, a move widely seen as creating deflationary pressure and depressing the UK economy.