A friend of Harley, the duke of Shrewsbury, was first appointed to office, and subsequently the great body of the Whigs were displaced by Tories, Harley being made chancellor of the exchequer and Henry St John secretary of state.
The office of master of the Mint is held by the chancellor of the exchequer for the time being, without salary, but the actual administrative work of the department is entrusted to the deputy master and comptroller.
In the following month the chancellor of the exchequer produced his second budget.
An ardent opponent of Catholic Emancipation, he delivered in 1807 a speech on the subject which helped to give the deathblow to the Grenville administration, upon which he became chancellor of the exchequer under the duke of Portland, whom in 1809 he succeeded in the premiership. Notwithstanding that he had the assistance in the cabinet of no statesman of the first rank, he succeeded in retaining office till he was shot by a man named Bellingham, a bankrupt with a grievance, who had vainly applied to him for redress, in the lobby of the House of Commons on the 11th of May 1812.
At the coronation in April 1661 Cooper had been made a peer, as Baron Ashley of Wimborne St Giles, in express recognition of his services at the Restoration; and on the meeting of the new parliament in May he was appointed chancellor of the exchequer and under-treasurer, aided no doubt by his connexion with Southampton.
Lord Derby became prime minister, with Disraeli as chancellor of the exchequer and leader of the House of Commons.
The most picturesque appointment was that of Lord Randolph Churchill, who was made chancellor of the exchequer and leader of the House of Commons.
The Liberals, who complained that their leaders were pursuing a Conservative policy, could at least console themselves by the reflection that, the chancellor of the exchequer was introducing satisfactory budgets.
In February 1852 the Whig government was defeated on a Militia Bill, and Lord John Russell was succeeded by Lord Derby, formerly Lord Stanley, with Mr Disraeli, who now his constant companions were Homer and Dante, and entered office for the first time, as chancellor of the exchequer and leader of the House of Commons.
It established the chancellor of the exchequer as the paramount financier of his day, and it was only the first of a long series of similar performances, different, of course, in detail, but alike in their bold outlines and brilliant handling.