answersLogoWhite

0

This was created by Jackson in 1836 as a reaction to the growth of paper money and credit. It required that people purchase public land from that point forward with gold or silver specie. Since most banks over loaned and distributed more bank notes than they could back this caused the panic of 1837 that Martin Van Buren had to deal with

User Avatar

Wiki User

12y ago

Still curious? Ask our experts.

Chat with our AI personalities

RafaRafa
There's no fun in playing it safe. Why not try something a little unhinged?
Chat with Rafa
SteveSteve
Knowledge is a journey, you know? We'll get there.
Chat with Steve
BlakeBlake
As your older brother, I've been where you are—maybe not exactly, but close enough.
Chat with Blake
More answers

The Specie Circular (Coinage Act) was an executive order issued by U.S. President Andrew Jackson in 1836 and carried out by President Martin Van Buren. It required payment for government/public land to be in gold and silver.

User Avatar

Wiki User

13y ago
User Avatar

To bring down the price of land by requiring payment in gold and silver

User Avatar

Wiki User

16y ago
User Avatar

Add your answer:

Earn +20 pts
Q: What is the significance of Jackson's Specie Circular?
Write your answer...
Submit
Still have questions?
magnify glass
imp