The terms of peace with France were settled by Bute and Bedford, against the views of Pitt; but on April 16, 1763, Bute retired from the ministry, before the new policy for the government of the colonies had been fully developed. He was succeeded by George Grenville, who continued at the head of the government until July, 1765. Grenville was able, well informed, and thoroughly honest. His knowledge of financial matters was extensive and accurate, and, as Chancellor of the Exchequer during the preceding administration, he had become familiar with the difficulties of providing for the expenses of government. No question could have been more perplexing at this time. A certain amount of revenue was required to meet the interest on the public debt, and to defray current expenses. Economic theories of commercial policy would not serve as an item in the budget. The minister needed the money, and the Stamp Act was framed and passed. He also encountered other difficulties when public sentiment had become inflamed by the question of General Warrants. His relations to the king were unfriendly. Pitt threw his influence into the scale of the opposition, and Grenville's administration was a failure. [Illustration] The Rockingham ministry began July 13, 1765, and ended August 2, 1766. The colonists themselves could hardly have chosen one more to their mind. It was weak and vacillating. It repealed the Stamp Act, and passed the Declaratory Bill. To Dowdswell, the Chancellor of the Exchequer, the Massachusetts House voted their thanks. Then came the Chatham-Grafton ministry, which was in power until December 31, 1769. This was nominally Pitt's ministry; but his elevation to the peerage impaired his influence with the people, and after nine months he retired from public affairs by reason of ill health. Men of such opposite views and character as Shelburne, Hillsborough, Charles Townshend, and Lord North were of this ministry. Lord North was premier from February 10, 1770, to September 6, 1780. Long after he wished to retire he continued to hold power at the personal solicitation, and even by the command, of the king. He was able, faithful, and patriotic; but his heart was not in the work of subduing the colonies, nor could he pilot the ship of state through dangerous seas. Such were the ministers at one of the most critical periods in English history. No first-class man is to be found among them save Pitt, and his real attitude was that of opposition. He raised the storm, but when his hand ought to have been on the helm he was prostrate in the cabin.