The system nearly ruined the navy.

It actually happened that planks of a man-of-war fell out through rot and that she sank.

Often ropes and spars could not be had when most needed.
When a public loan was floated the King's friends and they alone were given the shares at a price which enabled them to make large profits on the stock market.
The system could endure only as long as the King's friends had a majority in the House of Commons.

Elections must be looked after.

The King must have those on whom he could always depend.