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Peel refused to serve under Canning because of their diametrically opposing views on Catholic Emancipation.
In May he introduced legislation for a return to the gold standard on .
In 1822 Peel accepted the position of Home Secretary in Liverpool's cabinet reshuffle; he began to look into the state of criminal law almost immediately.
This involved a lengthy journey by sea and road at frequent intervals.
He decided to resign in August and for four years held no office.
As a result of this, he was elected in June as MP for Oxford University on the resignation of Charles Abbot.
By 1818, Peel was exhausted from his work in Ireland which demanded not only that he conducted affairs in Dublin but also attended the House of Commons to answer parliamentary questions on Ireland.
Since Peel was a Tory by nature and persuasion he supported Portland's government.
In June 1810 he was appointed as Under-Secretary for War and the Colonies in Spencer Perceval's ministry; in this post he worked with Lord Liverpool.
In 1819 Peel became chairman of the Parliamentary Committee of Enquiry into the return to the gold standard: the so-called currency, or bullion committee that included men such as Canning and Huskisson.
Peel was convinced that the system of paper currency that had been introduced by Pitt in 1797 had resulted in a depreciated currency.