Hand of Glory has dated this piece to the 1920s.
J. Sylvester titled 'The Right Hon. THE PRIME MINISTER' and annotated in ink pen. It also has the remains of an address label titled 'Sylvester' with an address which is is stuck over the embossed GR Royal Cypher.

Albert James Sylvester was Lloyd George's Private Secretary.
David Lloyd George, 1st Earl Lloyd-George of Dwyfor OM PC (1863-1945) was a British Liberal politician and statesman. He was Prime Minister and led a Wartime Coalition Government between 1916 and 1922 and was the Leader of the Liberal Party from 1926 to 1931.

During a long tenure of office, mainly as Chancellor of the Exchequer, he was a key figure in the introduction of many reforms which laid the foundations of the modern welfare state. He was the last Liberal to serve as Prime Minister.

Lloyd George is best known as the highly energetic Prime Minister (1916–22) who guided the Empire through the First World War to victory over Germany and its allies. He was a major player at the Paris Peace Conference of 1919 that reordered Europe after the Great War. As an icon of 20th-century liberalism, he is regarded as the founder of the British welfare state. He made a greater impact on British public life than any other 20th-century leader, thanks to his leadership of the war, his postwar role in reshaping Europe, and his introduction of Britain's social welfare system before the war.

Although many barristers have been Prime Minister, Lloyd George is the only solicitor to have held that office. He is also the only British Prime Minister to have been Welsh and to have spoken English as a second language, with Welsh being his first.

He was voted the third greatest British prime minister of the 20th century in a poll of 139 academics organised by MORI, and in 2002 he was named among the 100 Greatest Britons following a UK-wide vote. (Wikipedia entry)
Hand of Glory has dated this piece to the 1920s.
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