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HALIFAX, CHARLES MONTAGU, EARL OF

hălˈəfăks, 1661–1715, English statesman. He and Matthew Prior were coauthors of a parody of John Dryden's The Hind and the Panther, entitled The Town and The Country Mouse (1687). As a lord of the treasury, Halifax proposed (1692) the system of government borrowing that established the British national debt. In 1694 he adopted the proposal of William Paterson to found the Bank of England and was appointed chancellor of the exchequer. The following year he designated Isaac Newton as warden of the mint to effect a recoinage and issued the first exchequer bills. Halifax succeeded Sidney Godolphin as first lord of the treasury (1697–99) and was twice impeached (1701, 1703) for breach of trust as auditor of the exchequer, but he was not convicted. He was reappointed first lord of the treasury on the accession (1714) of George I.

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The Columbia Encyclopedia, Sixth Edition Copyright© 2004, Columbia University Press. Licensed from Lernout & Hauspie Speech Products N.V. All rights reserved.

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Publication Information: Encyclopedia Article Title: Halifax, Charles Montagu Earl Of. Encyclopedia Title: The Columbia Encyclopedia, Sixth Edition. Publisher: Columbia University Press. Place of Publication: New York. Publication Year: 2004.
    
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