I find google the best way to find anything. I searched for your quote and 
only one hit came up... our very own Fairfield Life in 2005:

http://www.mail-archive.com/fairfieldlife@yahoogroups.com/msg17544.html

was the sole hit for the search:
http://www.google.com/search?client=safari&rls=en&q=churchill+%22nationalize+everything+of+substance+they+lay+their+eyes+on%22&ie=UTF-8&oe=UTF-8

My favorite Churchill quote as told to me in 1982 by my SCI teacher in London, 
John Windsor...

One day, Clement Attlee (the opposition at the time) visited Churchill in 
number 10 with important details to discuss. Churchill was occupied in the 
toilet at the time with constipation, but he promised he would only be five 
minutes. After ten, Attlee grew very irritated and ordered one of the workers 
in number 10 to fetch Churchill. Churchill told the worker he would be another 
five minutes. After another 10, Attlee was furious and ordered the worker once 
again to fetch Churchill, who was still in the bathroom. The worker approached 
Churchill, told him of the situation, and Churchill replied, "Tell Mr. Attlee I 
can only deal with one shit at a time." 

--- In FairfieldLife@yahoogroups.com, "parminides" <parmini...@...> wrote:
>
> During a recent Internet search I came across the following story about 
> Winston Churchill that was posted by akasha_108 back in 2005 (cf. 
> http://groups.yahoo.com/group/FairfieldLife/message/61698):
> 
> "One day, it must of been in his conservative days -- he jumped parties two 
> or three times for political expediency -- he was at the long trough urinal 
> in the House of Commons. A labor party leader came in and Winston proceeded 
> to shuffle down to the far end of the urinal. The labor leader, said, 'Lord 
> Churchill, you appear a bit stand-offish today.' Winston, grunted and coughed 
> out, 'I am concerned about the labor's party grand propensity to nationalize 
> everything of substance they lay their eyes on.'"
> 
> I love the story and would like to know the source. I cannot figure out how 
> to email akasha_108 directly. It also appears that he hasn't posted here in 
> several years.
> 
> If someone knows akasha_108, I would appreciate it if you passed this message 
> to them. Alternatively, if you know the source of the story yourself, I would 
> appreciate a reply to this post. Thank you.
>


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