Appointed a lord of the treasury in March 1846, Carnegie was one of the Conservative MPs who supported Peel’s repeal of the corn laws in ensuing months. A serving naval officer and contributor to debates on naval affairs, Carnegie, who had been in the service since 1826, had an impressive military pedigree. His grandfather George, 6th earl of Northesk, and his father, William, 7th earl, had both been admirals, the latter serving at the battle of Trafalgar, while his mother was the niece of another famous sailor, John Jervis, 1st earl of St. Vincent (1735-1823). The youngest son of the 7th earl, Carnegie had entered the royal navy when he was thirteen and served in operations connected with the civil war in Spain, 1833-38, for which he was later awarded a knighthood of the Order of St. Fernando.
Connected to Staffordshire through his uncle Lord St. Vincent, Carnegie was returned as a Conservative for its most venal borough at the 1841 general election.
At the March 1846 by-election occasioned by Peel’s appointing him a lord of the treasury, Carnegie offered an enthusiastic defence of the premier’s repeal of the corn laws. He declared himself ‘not a friend to protection in general’, which ‘breeds laziness’ among farmers. The success of the 1842 revision of the corn laws had convinced him that a ‘much larger scheme’ could be safely adopted. Carnegie would ‘leave no stone unturned to ensure the passing of the government measure’ and promised to ‘be absent from no division’.
Relegated into third place at Stafford in the 1847 general election, Carnegie attributed his defeat to his refusal to bribe.
