William Pitt the Younger King refused to support him. Fox stated the bill was necessary to save the company from bankruptcy. Pitt responded that: "Necessity was the plea for every infringement of human freedom. It was the argument of tyrants; it was the creed of slaves." The King was opposed to the bill; when it passed in the House of Commons, he secured its defeat in the House of Lords by threatening to regard anyone who voted for it as his enemy. Following the bill's failure in the Upper House, George III dismissed the coalition government and finally entrusted the premiership to William Pitt,
William Pitt the Younger he had promised to protect the established Church of England. Pitt, unable to change the King's strong views, resigned on 16 February 1801, so as to allow Henry Addington, his political friend, to form a new administration. At about the same time, however, the King suffered a renewed bout of madness, with the consequence that Addington could not receive his formal appointment. Though he had resigned, Pitt temporarily continued to discharge his duties; on 18 February 1801, he brought forward the annual budget. Power was transferred from Pitt to Addington on 14 March, when the King recovered. Pitt supported the