In September 1919, Päts formed a new political party, the agrarian-conservative Farmers' Assemblies, which was based on the Country People's Union. In 1920 elections, the party won 21 seats in the 100-member Riigikogu and from 25 January 1921 to 21 November 1922, Konstantin Päts was the State Elder and led the first constitutional government cabinet. It was a centre-right coalition with three centrist parties. The cabinet fell soon after the centre-left Estonian Labour Party left the coalition because of Päts's right-wing policies and criticism of corruption within the Bank of Estonia. After stepping down as head of government, Päts served as President (speaker) of the Riigikogu from 20 November 1922 to 7 June 1923.