HALIFAX, CHARLES MONTAGUE, EARL OF, poet and statesman. grandson of He .y, first earl of Manchester, and nephew of the famous parliamentary general, was b. at Hor ton, in Northamptonshire, April 16, 1661. He was educated at Westminster school and Trinity college, Cambridge. A laudatory poem on Charles H. first brought INIontague into public notice. Two years later appeared the parody on Dryden's Hind and Panther, entitled The Town and Country Arouse, of which he was joint author with Matthew Prior; but his poetry would hardly have made his name remembered in the 19th century. He almost disappeared from the field of literature after the appearance of his satire, save as the patron of Addison and other men of letters. lie had intended to enter the church, as it afforded a regular income, but tempted by the offer of a seat in the house of com mons, lie became member for Malden in the convention parliament, where he voted for the declaration that James II, had abdicated, and that the throne was thereby vacant. He retained his seat in William M.'s first parliament, and was appointed in 1692 a com missioner of the treasury. On Dec. 15 of this year he proposed, in the house of com mons, to raise a million sterling by way of a loan. William required money for his wars —the moneyed classes were tired of bubble companies, and knew not where to invest safely, and the landowners were weary of heavy taxation; so the national debt w as established. In the spring of 1694 money was again wanted, and Montague was ready to supply it. This time he did so by originating a national bank, a scheme for which had been laid before the government by William Paterson three years before. The capital was to be £1,200 000. and the shareholders were to be called the governor and company of the bank of England. The bill for this was ultimately passed; the result
was immensely successful. and Montague became chancellor of the exchequer. His next work was the recoinage of 1695, which he carried out successfully, appointing New. ton warden of the mint, and raising on windows to pay the expense, instead of the obnoxious impost called hearth-Money. The ititerValbetWeenthe litSt day on which the old money was receivable in payment of taxes and the issue of the new coin, was, owing to the ahsence of a circulating medium, likely to cause much distress; but he obviated this by establishing exchequer bills hearing interest daily, and ranging in amount from to £500. On Godolphin's resignation, in 1697, he became premier, but soon becoming unpopular, was obliged to bestow upon himself the anditorship of the exchequer, and resign his higher offices. Harley insisted on his withdrawal from the commons, and he became baron Halifax, adopting a title which had just become extinct. He was impeached before the house of lords for breach of trust in 1701, and again in 1703, but the proceedings fell to the ground. During the whole of Anne's reign, Halifax remained out of office, but was active in promoting the union with Scotland and the Hanoverian succession. On the queen's death, he was naturally appointed a member of the council of regency, and on George L's arrival, became an earl and prime minister. His rule lasted only nine months, being terminated by death on May 19, 1715. Halifax, though an arrogant and mean man and fond of display, was a consistent poli tician, and one of the greatest financiers of his time.