Stone was a supporter of the Coalition Government led by David Lloyd George. He was Liberal Party (UK, 1922)|National Liberal] candidate for the Newcastle-upon-Tyne East division at the 1922 general election. He sought to unseat the sitting Liberal MP who opposed the coalition and Stone had the backing of the local Unionist association. The Liberal MP duly lost his seat but to the Labour Party candidate and Stone finished third. Eight months later, he was to contest the 1923 [Leeds Central by-election] as a Liberal candidate, aiming to take a seat from the Unionists. The Unionists held the seat as Stone finished third again. Lloyd George led his National Liberals into a merger with the Liberal Party and Stone was happy to contest the general election, four months later as a Liberal candidate. He was Liberal candidate for the South Derbyshire division at the 1923 general election. He again finished third, despite polling nearly 30% of the vote. He did not stand for parliament again.