The Conservative response to change: Economy, Bank Charter Act (1832-1846)

Question 1

When did Peel first become PM?

Answer 1

1834, however he held an election in Jan 1835 where he won a majority and the Parliament.

Main part of his election plan included the Tamworth Manifesto.

Question 2

What did the Tamworth Manifesto include?

Answer 2

It distinguished the Tory position Reform and it presented the Radicals and Irish Nationals as wanting to destroy order.

Peel stated that he accepted the Reform Act 1832, as a ‘final and irrevocable settlement’.

He also promised that the conservatives may undertake reviews of ‘institution’.

However, they wanted to ‘conserve’ society as it is and would only reform to ‘survive’

Question 3

What was the Lichfield House Compact (1835)?

Answer 3

Lord Russell and Daniel O’Connell agreed that Irish MPs would support the Whig parliament in exchange for support with Irish Reform (with Whig support).

However, there were division in this group due to the pact with the Irish leading to the elections in 1835 allowing Peel to gain a majority.

Question 4

When did Peel become PM again for his 2nd Ministry?

Answer 4

1841-1846

Question 5

What smaller economic reforms did Peel pass in 1842?

Answer 5

1) He removed 1,200 tariffs on imports

2) Reintroduced Income Tax.

Question 6

What TWO major economic Acts did Peel pass in 1844?

Answer 6

1. The Bank Charter Act

2. The Joint Stock Companies Act.

Question 7

What TWO other social Acts did Peel pass in 1844?

Answer 7

1. The Factory Act - restricted number of hours children and women worked.
2. The Mines Act - stopped children working underground (passed with Lord Shaftesbury)

Question 8

When were the Corn Laws repealed?

Answer 8

1846

Question 9

Why did Peel resign?

Answer 9

Due to his failed 1846 Irish Coercion Bill which was defeated by Whigs, Radicals and Tory Protectionists.

Question 10

Was Peel a liberal Tory?

Answer 10

1. He was a free trader
2. Opposed Catholic Emancipation
3. Remained influenced by ‘Church and King’
4. Said to be open minded and was pragmatic and accepted when change was necessary.

Question 11

How did Peel respond to Irish Potato Famine in 1846?

Answer 11

He set up a Relief commission and purchased £100k worth of crop from US.

He also set up a Public Work Legislation in 1846.