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 to £170 million. Pitt always paid careful attention to financial issues. A fifth of Britain's imports were smuggled in without paying taxes. He made it easier for honest merchants to import goods. By lowering tariffs on easily smuggled items such as tea, wine, spirits and tobacco, he grew the customs revenue by nearly £2 million. Pitt sought European alliances to restrict French influence, forming the Triple Alliance with Prussia and Holland in 1788. During the Nootka Sound Controversy in 1790, Pitt took advantage of the alliance to force Spain to give up its claim to exclusive control over the western