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 Preble William Pitt Preble William Pitt Preble (November 27, 1783 – October 11, 1857) was an American lawyer, judge, diplomat and businessman. He was one of the first Justices of the Maine Supreme Court and U.S. Minister to the Netherlands. William Pitt Preble was born in York, Maine (Maine was then a part of Massachusetts) on November 27, 1783. He graduated from Harvard University in 1806, received a master's degree from Harvard in 1809, studied law, and began a practice in York. In 1811 he was appointed County Attorney for York County. First a Democratic-Republican, and later a Democrat, in 1814