Chancellor of the Exchequer of its interest rates. The chancellor also has oversight of public spending across Government departments. The holder of the office of Chancellor of the Exchequer is "ex officio" Second Lord of the Treasury as a member of the commission exercising the ancient office of Lord High Treasurer. As the Second Lord, his official residence is 11 Downing Street in London, next door to the residence of the First Lord of the Treasury (a title that has for many years been held by the prime minister), who resides in 10 Downing Street. While in the past both houses were private residences,
First Lord of the Admiralty Smith"), identified Porter with him. The counterparts shared a known lack of naval background. It has been suggested the character was drawn on Smith's actual "Radical" predecessor of 1868–71, Hugh Childers. "This article contains some text from: Vesey, Richard Sir, Admiral, (1896), Naval Administration: The Constitution, Character, and Functions of the Board of Admiralty, and of the Civil Departments it Directs, George Bell and Sons, London. Now in the public domain." First Lord of the Admiralty The First Lord of the Admiralty, or formally the Office of the First Lord of the Admiralty, was the political head of the Royal