Robert Walpole

The Rt. Hon. Robert Walpole, 1st Earl of Orford, KG, GCB, (26 August 1676–18 March 1745), nickname "Cock Robin," was a British Whig statesman who is generally regarded as having been the first Prime Minister of Great Britain. The position of Prime Minister had no official recognition in law, but Walpole is nevertheless acknowledged as having held the de facto office due to the extent of his influence in the Cabinet.

Premiership under George I

Under the guidance of Walpole, Parliament attempted to deal with the financial crisis. The estates of the directors of the company were confiscated and used to relieve the suffering of the victims, and the stock of the South Sea Company was divided between the Bank of England and East India Company. The crisis had significantly damaged the credibility of the King and of the Whig Party, but Walpole defended both with skilful oratory in the House of Commons.

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Walpole's first year as Prime Minister was also marked by the discovery of a Jacobite plot formed by Francis Atterbury, the Bishop of Rochester. The exposure of the scheme crushed the hopes of the Jacobites, whose previous attempts at rebellion (most notably the risings of 1715 and 1719) had failed to meet with success. The Tory Party was equally unfortunate, even though Lord Bolingbroke, a Tory leader who fled to France to avoid punishment for his Jacobite sympathies, was permitted to return to England in 1723.

Related Topics:
Francis Atterbury - Bishop of Rochester - Jacobites - 1715 - 1719 - 1723

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During the remainder of George I's reign, Walpole's ascendancy continued; the political power of the monarch was gradually diminishing, and that of his ministers gradually increasing. In 1724, the primary political rival of Walpole and Townshend in the Cabinet, Lord Carteret, was dismissed from the post of Southern Secretary and once again appointed to the lesser office of Lord Lieutenant of Ireland. Now, Walpole and Townshend were clearly the supreme forces in the ministry. They helped keep Great Britain at peace, especially by negotiating a treaty with France and Prussia in 1725. Great Britain, free from Jacobite threats, from war, and from financial crises, grew prosperous, and Robert Walpole acquired the favour of George I. In 1725, he was created a Knight of the Bath, and in 1726, a Knight of the Garter (earning him the nickname "Sir Blustering"). Moreover, his eldest son (also named Robert) was granted a Barony.

Related Topics:
1724 - France - Prussia - 1725 - Knight of the Bath - 1726 - Knight of the Garter

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