Restoring public credit after the South Sea Bubble (1720–1721)
Rose to dominance by managing the aftermath of the South Sea Company crash
Prime Ministers · 18th century
1676–1745 · English
Whig
In office: 1721–1742
Sir Robert Walpole, later 1st Earl of Orford, is generally regarded as Britain's first Prime Minister. As First Lord of the Treasury from 1721 to 1742 under George I and George II, he restored public credit after the South Sea Bubble, kept Britain out of European wars for most of two decades, and became the first head of government to live at 10 Downing Street.
Restoring public credit after the South Sea Bubble (1720–1721)
Rose to dominance by managing the aftermath of the South Sea Company crash
The Excise Crisis (1733)
Plan to replace customs duties on wine and tobacco with excise taxes caused uproar and was withdrawn
First First Lord of the Treasury to live at 10 Downing Street (1735)
George II offered him the house; he accepted it only as the official residence of the office
Licensing Act (stage censorship by the Lord Chamberlain) (1737)
Passed after satirical plays attacked his government; theatre censorship lasted until 1968
War of Jenkins' Ear declared against Spain (1739)
A war he opposed but was pushed into; it helped bring about his fall
Resignation after the Chippenham election petition (1742)
Lost a Commons vote on a disputed election and resigned after more than 20 years in power