In 1691, having become a
member of the
House of Commons, he argued in favour of a law to grant the assistance of counsel in trials for
high treason. He became flustered in the middle of his speech, and upon recovering himself, observed "how reasonable it was to allow counsel to men called as criminals before a court of justice, when it appeared how much the presence of that assembly could disconcert one of their own body". After the House of Commons he rose quickly, becoming one of the
Commissioners of the Treasury and a member of the
Privy Council. In 1694 he became
Chancellor of the Exchequer, in reward for devising the establishment of the
Bank of England, the plan which had been proposed by
William Paterson three years before but not acted upon. After an unsuccessful attempt to supplant
the Earl of Sunderland's leadership with the Whigs, he was compelled to reconcile with him in August 1695. With the support of Sunderland and the Court, Montagu was returned to Parliament for the
Westminster constituency in October 1695. In the same year he was involved in the successful
recoinage project. In 1698, having been appointed to the first Commission of the Treasury, he was also one of the
regency in the King's absence. The next year he was made
Auditor of the Exchequer, and the year after was created
Baron Halifax, of
Halifax in the
County of Yorkshire, with remainder to his nephew George Montagu. His impeachment by the Commons failed, when the Articles were dismissed by the
House of Lords.
John Macky relates a short description of the circumstances leading up to Charles, Lord Halifax's impeachment, in the Secret Service Papers published by his son in 1733. ...But as all courtiers, who rise too quick, as he did, are envied, so his great Favour with the King, and powerful Interest in the House, raised a great Party against him, which he strengthened, by seeming to despise them. The Deficiency of Parliamentary Funds, and the growing Debts of the Nation, by the great Interest of Paper Credit, laid him but too much open to these Attacks, he having the whole Administration of the Revenue. When he saw the Party growing too strong for him in the House of Commons, he prudently got himself made a Lord; and as a Screen from all Objections against his Administration, quitted his Management of Commissioner, to serve as Auditor: But his Enemies did not quit him so, they followed him into the House of Peers with an Impeachment, and so left no Stone unturned, to get him out of his Employ, bespattering him every Day with Pamphlets. :—
Memoirs of the Secret Services of John Macky Esq., pp. 51–54. On the accession of
Queen Anne, Montagu was dismissed from the Council, and in the first
Parliament of her reign was again attacked by the Commons, and again escaped by the protection of the Lords. In 1704 he wrote an answer to
Bromley's speech against
occasional conformity. He headed the inquiry into the danger of the Church. In 1706 he proposed and negotiated the
Union with Scotland and when the
Elector of Hanover received the Garter, after the Act had passed for securing the
Protestant Succession, he was appointed to carry the ensigns of the Order to the Electoral Court. He sat as one of the judges of
Henry Sacheverell, but voted for a mild sentence. Being now no longer in favour, he obtained a writ for summoning the Electoral Prince to Parliament as
Duke of Cambridge. ==Earl of Halifax==