The pleasures: The dangers and the uses of desultory reading
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Twenty Years of Financial Policy, a Summary of the Chief Financial Measures Passed Between 1842 and 1861, with a Table of Budgets
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Stafford Henry Northcote, 1st Earl of Iddesleigh was a British Conservative politician.
Background
Northcote was born on October 27, 1818 in London, England, the eldest son of Henry Stafford Northcote (1792-1850), eldest son of Sir Stafford Henry Northcote, 7th Baronet. His mother was Agnes Mary (died 1840), daughter of Thomas Cockburn. His paternal ancestors had long been settled in Devon, tracing their descent from Galfridas de Nordcote who settled there in 1103. The family home was situated at Pynes House northwest of Exeter.
Education
Northcote was educated at Eton and Balliol College, Oxford and was called to the bar, Inner Temple, in 1847.
Career
In 1843 Northcote became private secretary to William Ewart Gladstone at the Board of Trade. He was afterwards legal secretary to the board; and after acting as one of the secretaries to the Great Exhibition of 1851, co-operated with Sir Charles Trevelyan in framing the Northcote-Trevelyan Report which revolutionized the conditions of appointment to the Civil Service. He succeeded his grandfather, Sir Stafford Henry Northcote (1762-1851), as 8th baronet in 1851. He entered Parliament in 1855 as Conservative Member of Parliament for Dudley, and was elected for Stamford in 1858, a seat which he exchanged in 1866 for North Devon. He was briefly Financial Secretary to the Treasury under the Earl of Derby from January to July 1859. Steadily supporting his party, he became President of the Board of Trade in 1866, Secretary of State for India in 1867, and Chancellor of the Exchequer in 1874. In 1870, during the interval between these last two appointments, he was the president of the Hudson's Bay Company, when they gave the Northwest Territories to Canada, and one of the commissioners for the settlement of the Alabama Claims at the Treaty of Washington with the United States in 1871. On Disraeli's elevation to the House of Lords as Earl of Beaconsfield in 1876, Northcote became Leader of the Conservative party in the Commons. As a finance minister he was largely dominated by the lines of policy laid down by Gladstone; but he distinguished himself by his dealings with the debt, especially his introduction of the new sinking fund in 1876, by which he fixed the annual charge for the debt in such a way as to provide for a regular series of payments off the capital. His temper as leader was, however, too gentle to satisfy the more ardent spirits among his own followers, and party cabals led to Northcote's elevation to the Lords in 1885, when Lord Salisbury became prime minister. Taking the titles of Earl of Iddesleigh and Viscount St Cyres, he was included in the cabinet as First Lord of the Treasury. In Lord Salisbury's 1886 ministry he became Foreign Secretary, but the arrangement was not a comfortable one, and his resignation had just been decided upon when on 12 January 1887 he died very suddenly at the First Lord of the Treasury's official residence, 10 Downing Street.
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Connections
Northcote married Cecilia Frances Farrer (died 1910), daughter of Thomas Farrer and sister of Thomas Farrer, 1st Baron Farrer, in 1843. They had seven sons and three daughters.