In the 1923 election, the Ontario Conservative Party came to power under Ferguson's leadership by defeating the United Farmers of Ontario-Labour coalition government of Ernest C. Drury.

Ferguson's government encouraged private investment in industry and the development of the province's natural resources as a means of achieving prosperity.

In 1911, Ferguson argued in the legislature that "no language other than English should be used as a medium of instruction in the schools of this Province" although that a significant proportion of the population was French-Canadian.

Ferguson and Taschereau formed an axis against the federal government to demand more provincial rights and defend the provinces' ownership of natural resources such as water power (hydro-electric generation).

A slim majority voted against prohibition, which led Ferguson's government to permit the sale of beer with an alcohol content of no more than 4.4 proof, about 2.2%.

The 1926 provincial election was fought on the issue of the government's proposal to repeal the Ontario Temperance Act and to permit controlled sales of liquor in government-owned stores.

The Tories remained hostile to labour and immigrants and were not prepared to provide social relief when the Great Depression threw thousands out of work and into poverty.

[7] In December 1930, Ferguson left provincial politics to accept an appointment as Canadian High Commissioner in London.