On Bonar Law's retirement as prime minister in May 1923, Curzon was passed over for the job in favour of Stanley Baldwin, despite his eagerness for the job.

This decision was taken on the private advice of leading members of the party including former Prime Minister Arthur Balfour.
Balfour advised the monarch that in a democratic age it was inappropriate for the prime minister to be a member of the House of Lords, especially when the Labour Party, which had few peers, had become the main opposition party in the Commons.
In private Balfour admitted that he was prejudiced against Curzon, whose character was objectionable to some.
George V shared this prejudice.
A letter purporting to detail the opinions of Bonar Law but actually written by Baldwin sympathisers was delivered to the King's Private Secretary Lord Stamfordham, though it is unclear how much impact this had in the final outcome.
 Curzon felt he was cheated because Lord Davidson—to whom Baldwin was loyal—and Sir Charles Waterhouse falsely claimed to Lord Stamfordham that the resigned Prime Minister Bonar Law had recommended that George V appoint Stanley Baldwin, not Curzon, as his successor.
Harry Bennett says Curzon's arrogance and unpopularity probably prevented him from becoming prime minister despite his brilliance, great capacity for work, and prior accomplishments.

Winston Churchill, one of Curzon's main rivals, accurately contended that Curzon "sow[ed] gratitude and resentment along his path with equally lavish hands".
However, even contemporaries who envied Curzon, such as Baldwin, conceded that Curzon was, in the words of his biographer Leonard Mosley, "a devoted and indefatigable public servant, dedicated to the idea of Empire".

Curzon, summoned by Stamfordham, rushed to London assuming he was to be appointed.
He burst into tears when told the truth.
He later ridiculed Baldwin as "a man of the utmost insignificance", although he served under Baldwin and proposed him for the leadership of the Conservative Party.
Curzon remained foreign secretary under Baldwin until the government fell in January 1924.
When Baldwin formed a new government in November 1924 he appointed Curzon Lord President of the Council.

Curzon's rejection was a turning point in the nation's political history.
Henceforth Lords were barred from leading political parties and becoming prime minister.
It was now an age of democracy that made it unacceptable for the prime minister to be based in an unelected and largely powerless chamber.
On Bonar Law's retirement as prime minister in May 1923, Curzon was passed over for the job in favour of Stanley Baldwin, despite his eagerness for the job.
This decision was taken on the private advice of leading members of the party including former Prime Minister Arthur Balfour. Balfour advised the monarch that in a democratic age it was inappropriate for the prime minister to be a member of the House of Lords, especially when the Labour Party, which had few peers, had become the main opposition party in the Commons. In private Balfour admitted that he was prejudiced against Curzon, whose character was objectionable to some. George V shared this prejudice. A letter purporting to detail the opinions of Bonar Law but actually written by Baldwin sympathisers was delivered to the King's Private Secretary Lord Stamfordham, though it is unclear how much impact this had in the final outcome.  Curzon felt he was cheated because Lord Davidson—to whom Baldwin was loyal—and Sir Charles Waterhouse falsely claimed to Lord Stamfordham that the resigned Prime Minister Bonar Law had recommended that George V appoint Stanley Baldwin, not Curzon, as his successor. Harry Bennett says Curzon's arrogance and unpopularity probably prevented him from becoming prime minister despite his brilliance, great capacity for work, and prior accomplishments. 
Winston Churchill, one of Curzon's main rivals, accurately contended that Curzon "sow[ed] gratitude and resentment along his path with equally lavish hands". However, even contemporaries who envied Curzon, such as Baldwin, conceded that Curzon was, in the words of his biographer Leonard Mosley, "a devoted and indefatigable public servant, dedicated to the idea of Empire".
Curzon, summoned by Stamfordham, rushed to London assuming he was to be appointed. He burst into tears when told the truth. He later ridiculed Baldwin as "a man of the utmost insignificance", although he served under Baldwin and proposed him for the leadership of the Conservative Party. Curzon remained foreign secretary under Baldwin until the government fell in January 1924. When Baldwin formed a new government in November 1924 he appointed Curzon Lord President of the Council.
Curzon's rejection was a turning point in the nation's political history. Henceforth Lords were barred from leading political parties and becoming prime minister. It was now an age of democracy that made it unacceptable for the prime minister to be based in an unelected and largely powerless chamber.
George Curzon, 1st Marquess Curzon of Kedleston