ipl-logo

Comparison Of Peel Did More To Damage Than To Build The Tory Party

1200 Words5 Pages

‘Peel did more to damage than to build the Tory Party in the years 1829 and 1846’. Assess the validity of this statement. Robert Peel’s time as Prime Minister can be looked at in two ways; either he was the benefactor of his country or a politician who betrayed party interest on numerous occasions. I believe that Peel did substantially more to build than damage the Tory party; it is because of his leadership, many social reforms came to pass but is also because of his leadership that the Tory party eventually split. Peel realised that the needs of his country were more important than the narrow interests of a minority within his own party. Fundamentally Peel put the nation before the party, which may seem like a betrayal to his party but what …show more content…

The Bank Charter Act (1844) aimed to restore confidence in a system that had suffered 4 major financial crises since 1819. The main problem was that banks could issue paper bank notes with no limits on the account. Some banks, having over-issued notes would then collapse due to insufficient gold reserves to back the paper currency. Peel concluded that the economy could only expand if the currency was stable. The aim of the Bank Charter Act was to regulate the new rules: no new banks were allowed to issue notes, existing banks were limited to their average issue of notes and the Bank of England was given greater control over banknote issues, which was linked to bullion reserves and securities. This was one reform which proved highly successful for Peel and the Tory party, building not damaging the party in the eyes of their citizens. Peel’s financial reforms were met with the approval of the majority of his party, and although Peel tackled major issues that faced government there remained underlying tensions within the party about the extent to which members were expected to ‘toe the party

Show More
Related

  • The FDIC: The Great Depression

    245 Words  | 1 Pages

    The FDIC was created in 1933 in response to the thousands of bank failures that occurred in the 1920s and early 1930s. The FDIC was a provision of the Glass-Steagall Act. During the nine year period from 1921-1929 more than 600 banks failed each year. The failed banks were small banks operating in the rural suburban areas and held the deposits of mostly farmers and blue collar folks. When banks fold and continue to do so, people will start to worry about their money in any bank.

    Read More

  • How Did Labour Take Further Weight Regarding The 1983 And 1987 Election Essay

    270 Words  | 2 Pages

    This view is given further weight regarding the 1983 and 1987 election. Labour’s manifesto in 1983 had infamously been described as the ‘longest suicide note in history’ by a Labour MP denoting its extreme left views that the electorate weren’t in favour of, for instance leaving the European Economic Community and re-nationalisation of previously privatised industries like British Telecom .evidence of increase In consequence, Conservatives made further substantial gains in the midlands in spite of suffering from the decline in manufacturing, while in the south outside London Labour was virtually wiped out, holding only three seats . Labour suffered what Crewe called ‘a haemorrhage of working class votes’ , thus (therefore similar to 79)supporting

    Read More

  • Edmund Barton's Role

    258 Words  | 2 Pages

    Federationist, prime minister, MP, speaker and judge. These are all the important roles Edmund Barton has played in federal parliament. Edmund Barton was born on the 18th of January 1849 and died in 1920. Protectionist party Mr Burton Was apart of the protectionist party. This party was a group of people that focused on protectionism.

    Read More

  • Should Labour Domestic Policies Be Remembered In A Positive Light Essay

    507 Words  | 3 Pages

    'Labour's domestic policies should be remembered in a positive light.' Assess the validity of this view (25 marks) Labours victory in the 1997 election was first thought to be the U-turn of the socio-economic transformation that the Nation endured after 18 years of conservative premiership. However, these thoughts were quickly extinguished as the Labour party and Tony Blair took the neoliberalist ideals of the conservative party and intensified them. The rebranded new Labour looked to reform Britain in its own rendition of neoliberalism, the party executed this by making promises to the people promises to reform Education, Healthcare and Crime.

    Read More

  • Andrew Jackson Dbq Essay

    415 Words  | 2 Pages

    Andrew Jackson vetoed the bill re-chartering the Second Bank in July 1832 by arguing that in the form presented to him it was incompatible with “justice,” “sound policy” and the Constitution. The bank’s charter was unfair, Jackson argued in his veto message, because it gave the bank considerable, almost monopolistic, market power, specifically in the markets that moved financial resources around the country and into and out of other nations. That market power increased the bank’s profits and thus its stock price, “which operated as a gratuity of many millions [of dollars] to the stockholders,” who, Jackson claimed, were mostly “foreigners” and “our own opulent citizens.” He then suggested that it would be fairer to most Americans to create a wholly government-owned bank instead, or at least to auction the Second Bank of the US’s monopoly privileges to the highest bidder.

    Read More

  • How Did The Liberal Party Pass Social Reforms

    737 Words  | 3 Pages

    With the new extension of the franchise, both the Liberal government and the Conservative government wanted to win more votes from the working class men. Although you could argue that the fact they are motivated by votes and popularity highlights their hesitation, I would argue that it made them want to pass reform, even if this reform was limited and low profile. We can see the Conservatives eagerness to pass reform and gain voters as they passed many social reform acts during Disraeli’s ministry, however mostly when they first got into power, in 1874. The majority of the Conservative reform acts were passed in 1875. In fact, only two were passed after 1875.

    Read More

  • Political Parties In The Late 1700s Vs Today

    509 Words  | 3 Pages

    During the establishment of the United States, the problems the founding fathers faced helped to form a constitution that is still followed to this day. Conditions of the country in the late 1700s and today are similar- debt, foreign threats, and unhappy people. But if the government today were to face a problem big enough to wreck the country, the United States would not be able to survive. It would not be possible to re-establish the government due to a divide among the people, the lack of dominant leaders, and the condition that the government is in.

    Read More

  • Robert Peel Decline Of His Party Essay

    363 Words  | 2 Pages

    Peel’s downfall in 1846 and the cause of the end of his ministry were due to the fact that ‘he seemed short of balance and perspective – both essential attributes in a successful politician’. The absence of these things in the latter stages of his ministry make no difference to the lasting opinion that I have of Peel as being incredibly successful throughout his entire career in politics. As to whether Peel was more successful before or after 1841, I believe that the answer is after. Even after facing a substantial amount of pressure from opposing parties, after having to fight for what seemed to be a ministry destined to fall from the start due to his controversial views, and even after his own party turned against him and an assassination attempt was made on him, he still managed to remain, in many historians eyes not just my own, one of the greatest leaders of this country and is an inspiration to many for his resilience and bravery at a time when the survival of Britain hang in the

    Read More

  • Emancipation Proclamation Dbq

    736 Words  | 3 Pages

    1. The Emancipation Proclamation On January 1, 1863, Abraham Lincoln enforced a new order, the Emancipation Proclamation, which freed all slaves behind the Confederate lines. It only applied to the Southern states that were rebelling and not the states that were already occupied by the Union. It allowed free slaves to fight in the Civil War and now the Union had another reason to fight; to give freedom to the slaves.

    Read More

  • From Andrew Jackson's Obstruction To Democracy

    458 Words  | 2 Pages

    Although many people supported his decisions, the Bank benefitted the colonists in complicated ways such as providing a uniform currency across the nation and controlling the ability for state banks to issue paper money. Because Jackson vetoed the Bank Recharter Bill, it resulted in the Panic of 1837 and left the colonists in an extensive financial crisis. While Jackson’s ideas was popular to the common man, his ideas left Americans in economic

    Read More

  • Compare And Contrast Declaration Of Independence And Common Sense

    661 Words  | 3 Pages

    Both authors use the same techniques on sharing their opinions. They first express the same issue, which is Great Britain and the king. Then, they share their many reasons why it is a problem. One strong reason was government. In both documents they address the fact that if the government does not meet the needs of the people, the people have the right to replace them.

    Read More

  • Why Was Andrew Jackson A Bad President?

    510 Words  | 3 Pages

    This caused the new banks’ failure by issuing the Specie Circular order in 1836. The government land required payment to be in gold. The National Banks of United States collapsed, this caused what we know as the Panic of 1837, that Andrew Jackson’s successor had to deal with. This was much unorganized, banks got removed, etc. The lack of national banks was one of the many speculations that contributed policies that caused the market to crash in the year of 1837.

    Read More

  • How Did Andrew Jackson Transform The Economy

    628 Words  | 3 Pages

    Duane, and Roger B. Taney, until he found a secretary willing to distribute the money from the National Bank to smaller banks, Levi Woodbury. With this, local state banks had all the responsibilities and power of banking; only they could give out loans and invest. But, after irresponsible investments, the banks quickly lost the funds and began the process of the U.S. falling into the Panic of 1837. On top of the bank’s misjudgments, the value of the paper currency was falling due to Jackson’s Specie Circular, an act that made only gold and silver an acceptable currency for land. Such economic instability undermined the people’s faith in the economy and eventually lead to the Panic of 1837, a major financial

    Read More

  • Market Revolution Pros And Cons

    1236 Words  | 5 Pages

    As a result due to bank power, the Commercial Law was established to help charter businesses and create limited liability for investor’s. Developers were legally allowed to buy land from the unwilling. It also didn’t allow employees who were hurt in the workplace to lay blame onto their employers. These things enabled investors who were close to banks to succeed and increase their wealthy. There were many people who believed that this would lead to a collapse in the economy for those with unequal privileges, and despite the large boom in the economy the first few years, there was the panic of 1819.

    Read More

  • Simulation Of Imperial Policies Of Disraeli And Gladstone

    227 Words  | 1 Pages

    It can be concluded, while Disraeli and Gladstone both integrate imperial and foreign issues with their domestic policy it played no part in the 1860’s. As Durran’s has argued it achieved a much greater significance in the 1880’s. This is particularly because of the simulation of imperial sentiment coupled with the challenge posed by foreign rivals to Britain’s supremacy. Consequently, the idea of enhancing Britain’s imperial status was seized upon by Disraeli signalled by his Abyssinian expedition and the rebranding of his party as the ‘national party’. Disraeli can be viewed as a political opportunist who annexed the imperial affairs to the conservative cause by going as far as acting unconstitutionally by purchasing Suez Canal shares without

    Read More

More about Comparison Of Peel Did More To Damage Than To Build The Tory Party

Open Document