. 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 the last two appointments, he was the Governor of the
Hudson's Bay Company, North America's oldest company (established by an
English royal charter in 1670), when it
sold the Northwest Territories to Canada. Northcote was one of the commissioners for the settlement of the
Alabama Claims with the United States, culminating with the
Treaty of Washington in 1871. On
Benjamin Disraeli's elevation to the
House of Lords as Earl of Beaconsfield in 1876, Northcote became Leader of the Conservatives in the Commons. As a finance minister, he largely continued the lines of policy laid down by Gladstone. However, 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. Party cabals (in which
Lord Randolph Churchill took a leading part) 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. ==Other public positions==