 Aitken was a friend of Stanley and agreed to continue with the resignation, so that Stanley could take Aitken's seat in Parliament and be eligible for ministerial office.In return, Aitken received a peerage on 23 January 1917 as the "1st Baron Beaverbrook", the name "Beaverbrook" being adopted from a small community near his boyhood home.He had initially considered "Lord Miramichi", but rejected it on the advice of Louise Manny as too difficult to pronounce.