Walpole, Robert, 1st earl of Orford

b. 1676; d.1745

English statesman, born at Houghton, Norfolk. He studied at King's College, Cambridge. A Whig by persuasion and upbringing, he entered Parliament in 1701 as MP for Castle Rising, and in the next parliament, the first of the reign of Queen Anne, for Lynn. He quickly distinguished himself, and in 1708 became secretary of state for war. When the Tories came to power in 1710 he was accused of peculation, and was dismissed from his office and sent to the tower. The Protestant succession, however, restored him to favour, and in 1715 he became chancellor of the Exchequer. On the dismissal of Townshend he resigned and strongly opposed the policy of Stanhope and Sunderland on every possible count, without regard for principle. His greatest victory in opposition was the rejection in 1718 of the Peerage Bill, which limited the prerogative of the Crown and which would have enormously increased the power of the House of Lords. In 1720 he returned to the Pay Office, just before the South Sea crisis broke. He succeeded Sunderland at the Treasury (1721-40) but his position was not undisputed until Sunderland's sudden death in 1722.

Walpole's handling of the South Sea crisis showed to the full his common sense, tenacity and skilful, unprincipled manipulation of people and events. It is now established that Walpole was not in fact a great financial minister, although he amassed an enormous fortune through speculation during his political career as a whole. He maintained his position by retaining the confidence of the court and by controlling the Commons by his wholesale managing of MPs and of parliamentary elections. In 1739 the war of 'Jenkins's Ear' was declared and Walpole ought to have resigned, since he declared war much against his will, but he clung to office and only resigned when his majority had dwindled to two. He was raised to the peerage Earl of Orford. The position which he occupied and doctrine of ministerial cohesion which he applied are generally considered to justify his being regarded as the first effective British prime minister.

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