treasurer. The official who guarded the Norman treasure at Winchester in the reign of William I seems to have been more of a custodian than a minister or counsellor. The modern office has been traced back to the reign of Henry I, c.1126, and quickly established itself as of major importance. When the Exchequer split into a judicial and a financial side, the treasurer's responsibilities increased, since he was involved in the legal process, as well as presiding over the receipt of the royal revenues. The title lord treasurer, or lord high treasurer, came into use in the Tudor period. Thereafter the post was held by prominent figures such as Protector Somerset, Lord Burghley, and Sir Robert Cecil. But from 1612 the practice grew up of putting the Treasury into commission and the last lord high treasurer was Lord Rochester 1679–84. That opened the way for the 1st lord of the Treasury to become the head of government or first minister and in the 18th cent. the long tenures of Walpole, Pelham, North, and Pitt were based upon their financial expertise. As the demands on the prime minister increased and financial questions became more complex, the office of chancellor of the Exchequer rose in importance.

In Scotland, the office of treasurer was introduced by James I, who had spent nineteen years in captivity in England as a youth. In 1617 it was formally declared to be the leading ministry, but lapsed at the Act of Union in 1707.

J. A. Cannon

treas·ur·er / ˈtrezhərər/ • n. a person appointed to administer or manage the financial assets and liabilities of a society, company, local authority, or other body.DERIVATIVES: treas·ur·er·ship / -ˌship/ n.