At 13, he became a printer's apprentice with the Avoca Mail and later became a compositor in the Government Printing Office in Melbourne, but lost his job in 1893 as a result of the depression of the 1890s.

When James Scullin led the Labor Party to victory at the 1929 general election, Fenton became Minister for Trade and Customs.

Lyons, with Fenton's support, pursued conservative economic policies and sought to cut government spending, causing great anger among many in the Labor Caucus.

[1] When Scullin returned to Australia in January 1931, he reappointed Ted Theodore, the major proponent of inflationary economic policies, as Treasurer.

But he soon fell out with his fellow ministers over the government's acceptance of the Ottawa Agreement, establishing Imperial Preference, which he considered threatened the high tariff policy.

He had been able to win it for the UAP in the anti-Labor landslide of 1931, but in 1934 Fenton lost to the Labor candidate, Arthur Drakeford, suffering a seven-point swing.