Though disclaiming the title, he was recognized by every one as the
"prime minister"--prime in importance, prime in power. The other
ministers, nominally appointed by the sovereign, were in point of fact
dependent upon him for office, and he, though nominally appointed by
the crown, was really dependent only upon the support of a Whig
majority in the Commons.
[Sidenote: William Pitt, Earl of Chatham]
Walpole's power was based on policy and political manipulation. His
policy was twofold, the maintenance of peace and of prosperity. We
shall see elsewhere how he kept England clear of costly Continental
wars. [Footnote: See above, p. 256, and below, pp. 309 ff., 324 f.] His
policy of prosperity was based on mercantilist ideas and consisted in
strict attention to business methods in public finance, [Footnote:
Walpole was called the "best master of figures of any man of his
time."] the removal of duties on imported raw materials, and on
exported manufactures. In spite of the great prosperity of the period,
there was considerable criticism of Walpole's policy, and "politics"
alone enabled him to persevere in it.
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