When Vansittart became chancellor of the exchequer the country was burdened with heavy taxation and an enormous debt. Nevertheless, the continuance of the war compelled him to increase the custom duties and other taxes, and in 1813 he introduced a complicated scheme for dealing with the sinking fund. In 1816, after tile conclusion of peace, a large decrease in taxation was generally desired, and there was a loud cutcry when the chancellor proposed only to reduce, not to abolish, the property or income tax. The abolition of this tax, however, was carried in parliament, and Vansittart was also obliged to remit the extra tax on malt, meeting a large deficiency principally by borrowing. He devoted considerable attention to effecting real or supposed economies with regard to the national debt. He carried an elaborate scheme for handing over the payment of naval and military pensions to contractors, who would be paid a fixed annual sum for forty-five years; but no one was found willing to undertake this contract, although a modified plan on the same lines was afterwards adopted. Vansittart became very unpopular in the country, and he resigned his office in December 1822. His system of finance was severely criticized by Huskisson, Tierney, Brougham, Hume and Ricardo. On his resignation Liverpool offered Vansittart the post of Chancellor of the Duchy of Lancaster. Accepting this offer in February 1823, he was created Baron Bexley in March, and granted a pension of £3000 a year. He resigned in January 1828. In. the House of Lords Bexley took very little part in public business, although he introduced the Spitalfields weavers bill in 1823, and voted for the removal of Roman Catholic disabilities in 1824. He took a good deal of interest in the British and Foreign Bible Mission, the Church Missionary Society and kindred bodies, and assisted to found Kings College, London. He died at Foots Cray, Kent, on 8 February 1851. His wife, whom he married in July 1806, was Isabella (d. 1810), daughter of William Eden, 1st Baron Auckland, and as he had no issue the title became extinct on his death. There are nine volumes of Vansittart's papers in the British Museum.
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|width="30%" align="center"|Preceded by:
New Creation
|width="40%" align="center"|Baron Bexley
|width="30%" align="center"|Followed by:
Extinct
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