Honours and emolument were his reward after the Restoration of the monarchy; he was appointed to the lucrative offices of First Clerk of the Green Cloth and Paymaster of the Forces. Paymaster of the Forces Immediately on his Restoration, King Charles II struggled to fund the new standing army, a concept invented by Oliver Cromwell during the Civil War and the following Commonwealth. The problem was solved by Fox, who was deemed "one of the financial wizards of his age", and from 1654 to 1660 had managed the finances of the exiled king with great success. The king established a new office of Paymaster of the Forces, of which Fox was the first occupant, with premises in a wing of Horseguards in Whitehall. His success in restoring the financial position of the army stemmed from his ability to raise credit in the City of London, largely thanks to his reputation for honesty and reliability, which would later be repaid to him by the Treasury, when Parliament so voted. The yield from bills passed to this effect were often below that forecast, which in the absence of loans would leave the troops unpaid. Fox, however, was personally liable for the loans he raised, and to compensate him for the great risks he undertook, he was allowed to retain certain profits on his repayment by the Treasury. He charged the Treasury 6% on the funds he had borrowed, but much of that he repaid to his own creditors. He was allowed other perquisites, including 2% bonus on capital and interest repaid to him by the Treasury, and "poundage" from 1667 which allowed him to retain 4 pence, and from 1668 one shilling, in every pound of army pay, ostensibly to cover administration costs, but in reality mostly profit. This therefore amounted to one twentieth of all army pay, an annual income for Fox of about £7,000, added to his official salary of £400 per annum, and whatever he could save from borrowing at rates below 6%. In just 20 months from January 1665 to September 1666 he advanced a total of £221,000 for army pay, on repayment of which he received interest from the Treasury of almost £13,000. In addition he received a further 2% bonus, worth another £3,000 and also poundage. This office he held for 15 years between 1661 and 1676, and for another year in 1679–1680. Political career In