Praed continued to sit for St. Ives unopposed, on his family’s long-established interest there. His business concerns, particularly the Grand Junction Canal Company, of which he was chairman, took up more of his time than Parliament, however; his main achievement in the House was to shepherd through the Grand Junction Canal bill in 1790. His part in the subsequent development of Paddington is commemorated in Praed Street. Apart from being senior partner in the family banks at Truro and Falmouth, he also started Praed’s & Co. of 189 Fleet Street, London in July 1801, in partnership with Digby, Box and Babbage. At the time of his death, he was still senior partner.
Praed gave a general and silent support to Pitt’s ministry, and was listed among opponents of repeal of the Test Act in Scotland in 1791, though, unlike Pitt, he opposed the abolition of the slave trade, 15 Mar. 1796. He applied for a place for a relation. On 10 Dec. 1796 he informed Farington the diarist that though ‘by inclination a supporter of Mr Pitt’, he was a critic ‘with many others’ of his unconstitutional conduct over the imperial subsidy. He did not oppose Addington, whom he called ‘a good sort of man; but not able to stand up to opposition’.
Before the election of 1806, Praed sold his property at St. Ives: he normally resided at his Buckinghamshire seat when not in town and had at the previous election disposed of his interest in the other seat at St. Ives (which he was wont to make available to banker friends) to the Duke of Northumberland. The latter reported in September 1805 that Praed had a mind to sell out; the purchaser emerged in February 1806 as (Sir) Christopher Hawkins. Praed, abetted apparently by the Marquess of Buckingham, went on to contest the North family borough of Banbury, where he had contrived to seduce the corporation. He was a supporter of Lord Grenville, the new prime minister, and although the latter denied having encouraged Praed in his intervention, he did nothing to discourage him, either. Payments for seats purchased by friends of the ministry were being made to his bank.
Praed was successful at Banbury. He had previously voted for the repeal of Pitt’s Additional Force Act, 30 Apr. 1806, though he had voted with the minority for Hamilton’s motion on Indian affairs, 21 Apr., and he remained adverse to the abolition of the slave trade. In 1807, when he was involved in a double return at Banbury, he was counted ‘a supporter of the late administration’, having voted for Brand’s motion on 9 Apr.