 Sunderland, however, retained a degree of personal influence with George until his sudden death in 1722 allowed the rise of Sir Robert Walpole. Walpole became de facto Prime Minister, although the title was not formally applied to him (officially, he was First Lord of the Treasury and Chancellor of the Exchequer). His management of the South Sea crisis, by rescheduling the debts and arranging some compensation, helped the return to financial stability. Through Walpole's skilful management of Parliament, George managed to avoid direct implication in the Company's fraudulent actions. Claims that George had received free stock as a bribe are not supported by evidence; indeed receipts in the Royal Archives show that he paid for his subscriptions and that he lost money in the crash.
