Chapter 2 - Pitt and his successors Flashcards
When was the national debt first set up?
1696
Why was the National debt first set up?
To meet the cost of the Continental Wars
Why did the national debt increase?
The government kept seeking further loans from the bank of England
What was the sinking fund?
A saving scheme used to pay off the National Debt, which had money from taxation paid into it
When was the Sinking Fund first introduced?
1716
When did William Pitt enter Parliament and at what age?
1781 aged 21
Who had been Prime Minister before 1782 (and was a favourite of King George III?)
Lord North
Who replaced Lord North?
Lord Rockingham
Who took over when Rockingham died unexpectedly?
Lord Shelburne
What coalition took power from Lord Shelburne?
One made up of Lord North and Charles Fox
What was Fox’s India Bill?
Introduced in November 1783, it was a serious attempt to solve the problem of British rule in India, but one which contained parts which would increase Fox’s influence
What happened with Fox’s India Bill?
It passed through Commons where he had support, but when the King threatened to make an enemy of any peer who voted for it it failed in Lords, leading to Fox and North’s dismissal
Why did George choose Pitt to be the Prime Minister?
Whilst he didn’t like him particularly, he wanted a Whig and he preferred him to the Rockingham & Shelburne Whigs
When was the Fox-North coalition defeated?
17th December 1783
When was Pitt appointed Prime Minister?
19th December 1783
Why was Pitt’s government weak at first?
He had no following in the Commons and a large majority opposition, meaning he had to fill his cabinet with members of the Lords, leaving him isolated
Why was Pitt’s government nicknamed the ‘Mince Pie Administration?’
Because it was not expected to survive past Christmas
Why was Fox furious with the King?
He had a majority, but the King refused the convention of inviting him to take office
When did Pitt ask King George to call an election?
March 1784
How did the King help Pitt win the 1784 election?
He called it 4 years early, provided Pitt with an election fund, and used influence in government-controlled boroughs
How many supporters of Fox lost their seats in 1784?
About 160
How did the King help Pitt in the House of Lords?
By creating new peers from the wealthy merchant classes of London, overwhelming the old Whig aristocracy
What was the national debt in 1783?
£240 million, an all time high and 16 times higher than annual government revenue
What were interest payments on the national debt in 1783?
£8 million per year
