The most important subject of internal policy discussed in the session of 1810 was the state of the currency. Since 1797 cash payments had been suspended, the issue of banknotes had been nearly doubled, and the price of commodities had risen enormously. Whether these results had in their turn promoted the expansion of foreign commerce and internal industry was vigorously disputed by two rival schools of economists. The one thing certain was the increasing scarcity of specie, and the serious loss incurred in its provision for the service of the army in the Peninsula. Francis Horner, then rising to eminence, obtained the appointment of what became known as the "bullion committee" to inquire into the anomalous conditions thus created, and took a leading part in the preparation of its celebrated report, published on September 20. The committee arrived at the conclusion that the high price of gold was mainly due to excess in the paper-currency, and not, as alleged, to a drain of gold for the continental war. They attributed that excess to "the want of a sufficient check and control in the issues of paper from the Bank of England, and originally to the suspension of cash-payments, which removed the natural and true control". While allowing that paper could not be rendered suddenly convertible into specie without dislocating the entire business of the country, they recommended that an early provision should be made by parliament for terminating the suspension of cash-payments at the end of two years. These conclusions were combated by Castlereagh and Vansittart, who afterwards, in 1811, succeeded in carrying several counter-resolutions, of which the general effect was to explain the admitted rise in the price of gold, for the most part by the exclusion of British trade from the continent, and the consequent export of the precious metals in lieu of British manufactures. The last resolution, while it recognised the wisdom of restoring cash-payments as soon as it could safely be done, affirmed it to be "highly inexpedient and dangerous to fix a definite period for the removal of the restriction on cash-payments prior to the conclusion of a definitive treaty of peace". These counsels prevailed, and the restriction was not actually removed until Peel's act was passed in July, 1819.