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Updated: May 22, 2025
Within eight years he was Under-Treasurer, or, as we should say, Chancellor of the Exchequer, Speaker of the House of Commons, and finally Lord Chancellor.
From a Confederate he became a partisan of the King, and supported Tyzenhaus,119 the Under-Treasurer of Lithuania; but when the King joined the men of Targowica, Maciej once more deserted the royal side. And hence, since he had passed through so many parties, he had long been called Cock-on-the-Steeple, because like a cock he turned his standard with the wind.
In the month of August the earl of Godolphin was divested of his office, and the treasury put in commission, subjected to the direction of Harley, appointed chancellor of the exchequer and under-treasurer.
The Parliamentary record thus tells us what had happened: "The same evening the Right Honorable Sir Robert Walpole resigned his place of First Commissioner of the Treasury and Chancellor and Under-Treasurer of the Exchequer, which he had held ever since April 4, 1721, in the former of which he succeeded the Earl of Sunderland, and in the latter Mr. Aislabie."
Another bill was enacted into a law, for restraining the sub-governor, deputy-governor, directors, treasurer, under-treasurer, cashier, secretary, and accountants, of the South-Sea company, from quitting the kingdom till the end of the next session of parliament; and for discovering their estates and effects, so as to prevent them from being transported or alienated.
On Friday, February 13, 1741, a motion was made in each of the Houses of Parliament calling on the King "to remove the Right Honorable Sir Robert Walpole, Knight of the most noble Order of the Garter, First Commissioner for executing the office of Treasurer of the Exchequer, Chancellor and Under-Treasurer of the Exchequer, and one of his Majesty's most honorable Privy Council, from his Majesty's presence and councils forever."
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