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After Jackson's veto that disallowed the re-charter of the Bank of the United States, several smaller institutions arose. These "pet banks" flooded the country with issued paper money. Because this money became unreliable Jackson authorized the Specie Circular. This decree required all land to be purchased in metallic money, called specie, to provide the country with a uniform currency.
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What was the one thing that united all members of the new Whig party was opposition to?
The initial issue uniting members of the new Whig Party was the opposition to Jackson
What is the significance of Jackson's Specie Circular?
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
Who is Jackson?
Sally Jackson is Percy Jackson mother
How old are Jackson's parents?
Joe Jackson is 80 Katherine Jackson is 78
Who is Jackson's brother?
Trevor Jackson
