Spencer’s father, ennobled in 1603, was reputedly one of the richest men in England, with an annual income of up to £8,000.
In May 1620 Lord Spencer led a group of magistrates from several Midlands counties in a bid to overturn the Merchant Staplers’ monopoly of buying and selling wool, which they blamed for the depression in the wool and cloth trades that was severely affecting the region.
By this time Spencer was becoming frustrated by the lack of constructive debate on how to revive the wool and cloth trades, and he called on 7 May for the second reading of a bill to enable the Merchant Staplers to export woollen cloth notwithstanding a patent granted to the Merchant Adventurers, a measure which must have been of particular concern to Northamptonshire graziers. On 14 May, in further debate on this subject, he demanded that William Towerson I*, the deputy governor of the Merchant Adventurers, should disclose whether the Company had sought to by-pass the Commons by a direct petition to the king.
On 28 May, when the adjournment was announced, Spencer urged the House to proceed with legislation rather than grievances, saying ‘let us have bills or leave all’; that same afternoon he reported the Staplers bill, which was ordered to be engrossed.
When Parliament reassembled Spencer successfully moved on 24 Nov. 1621 for the third reading of the Staplers’ bill.
Re-elected in 1624, Spencer’s appointments early in the session included bills to prevent unlawful imprisonment (9 Mar.), and to make the estates of attainted persons liable for the payment of their debts (10 March).
Spencer was re-elected to the first Parliament of Charles I. However, he does not seem to have taken his seat until the beginning of the Oxford sitting on 1 Aug. 1625, when he was admitted without having first received the communion on the proviso that he do so as soon as possible.
Tensions between the leading Northamptonshire gentry were exacerbated during the autumn of 1625 by the attempts of the custos rotulorum, the 1st earl of Westmorland (Sir Francis Fane*) to move the county’s quarter sessions from Northampton to Kettering, a proposal which was bitterly opposed by Lord Montagu (Sir Edward Montagu*). Spencer and his father sided with Montagu, whom he urged to ‘have a concluding blow at him [Westmorland] in Star Chamber’.
On 17 Feb. Spencer was named to the committee to consider the excommunication of Sir Robert Howard*, whom he thought had correctly claimed privilege. Once the matter had been resolved, on 3 May he further moved that the debate should be deleted from the record.
On 15 Mar., in a debate on how to censure Clement Coke* for the rash declaration that ‘it is better to die by a foreign hand than to suffer at home’, Spencer came to Coke’s defence by pointing out that ‘if speeches may be divided and the beginning and ending taken away, strange sense may be made thereof. The scripture says, "There is no God", but before is, "the fool has said in his heart"’.
Spencer succeeded to the peerage before the next general election. He died on 19 Dec. 1636 and was buried with his ancestors at Brington, under a stately tomb containing effigies of himself and his widow.
