Palk inherited his father’s property in Ashburton and Torquay and the residue of his personal estate, which was sworn under £70,000 in 1813. He carried on his father’s urban development project in Torquay, although the Ashburton estate had to be heavily mortgaged to provide the capital and he was left with ‘scarcely enough ready cash to provide ... a suitable income’.
After the 1830 general election Palk was listed among the ‘moderate Ultras’, but with the additional note that he was a ‘sincere friend’ of ministers; he indeed voted with them in the crucial civil list division, 15 Nov. 1830. He divided against the second reading of the Grey ministry’s reform bill, 22 Mar., and for Gascoyne’s wrecking amendment, 19 Apr. 1831. At the ensuing general election he was challenged by the independent interest at Ashburton, and though he ‘admitted some reform to be necessary’ his refusal to pledge support for the bill ‘cost him his seat’; he came bottom of the poll after a contest lasting six days.
