In 1820 he became Whig member for Limerick (from 1832 member for Cambridge); and after holding minor offices became secretary for war and the colonies in 1834 and in 1835-1839 chancellor of the exchequer. He was disappointed in not obtaining the speakership, but in 1839 was created Baron Monteagle of Brandon (a title intended earlier for his ancestor Sir Stephen Rice), and made controller of the exchequer.
He differed from the government as regards the exchequer control over the treasury, and the abolition of the old exchequer was already determined upon when he died. His eldest son, Stephen Edmund Spring-Rice (1814-1865), deputy chairman of the board of customs, having predeceased him, he was succeeded in the title by his grandson, Thomas, 2nd baron (b. 1849). Another son was father of SE Spring-Rice (1856-1902), of the treasury, and of Sir Cecil A Spring-Rice (b. 1859), the diplomatist.
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