One was to obtain for the State, as the price of the monopoly, a sum much larger than the Old Company was able to give.

The other was to promote the interest of his own party.

Nowhere was the conflict between Whigs and Tories sharper than in the City of London; and the influence of the City of London was felt to the remotest corner of the realm.

To elevate the Whig section of that mighty commercial aristocracy which congregated under the arches of the Royal Exchange, and to depress the Tory section, had long been one of Montague's favourite schemes.

He had already formed one citadel in the heart of that great emporium; and he now thought that it might be in his power to erect and garrison a second stronghold in a position scarcely less commanding.