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The First National Ministry existed from 24 August 1931 until the reconstruction of the government, following the general election in October 1931. From 5 November 1931 until the resignation of the Prime Minister on 7 June 1935 the Second National Ministry was in office. Stanley Baldwin then formed the Third National Ministry. During the course of the Ministry the ministers from the Liberal Party, led by Sir Herbert Samuel, resigned over the adoption of a protectionist policy caused by the government negotiating the Ottawa Accords in 1932. The other Liberal faction in the Ministry, the Liberal National Party, had accepted the Conservative policy of protectionism before the National government had been formed so its ministers continued in office.