
Consolidated British national debt as PM.
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As Prime Minister, Pelham directed British military and financial support for the Pragmatic Sanction, funding campaigns in Europe and North America. The war ended with the Treaty of Aix-la-Chapelle in 1748, which returned Louisbourg to France, a decision criticized in Britain.
As Prime Minister, Pelham oversaw the reduction of the interest rate on the British national debt from 4% to 3%, saving the government
Pelham's government passed the Jewish Naturalization Act, allowing foreign-born Jews to become British subjects. Widespread public opposition forced its repeal the following year, damaging Pelham's political standing.
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