The seat had become vacant when the Conservative Member of Parliament (MP) William Burdett-Coutts had died on 28 July 1921.
The Liberal candidate Arnold Lupton, aged nearly 75, had previously been a member of the House of Commons from 1906 to January 1910.
The objects of the League were to insist upon measures being taken to restore the country to solvency, urge a wholesale reduction of expenditure, fight the battle of local rates and oppose sham Anti-Waste candidates.
There was a growing element both inside and outside the Conservative element of the Coalition Government, that opposed the post-war reconstruction methods adopted by Lloyd George and other leading Liberals in the coalition, notably Christopher Addison, who as Housing Minister had introduced a series of measures to enable local councils to build Council houses.
These measures were funded by higher taxation and in accordance with Lloyd George's aim to build a "Land Fit for Heroes".