answersLogoWhite

0

It would lead to an economic down fall known as the Panic of 1837. This was due to the State Banks passing out bad loans they could not pay off.

User Avatar

Wiki User

16y ago

Still curious? Ask our experts.

Chat with our AI personalities

SteveSteve
Knowledge is a journey, you know? We'll get there.
Chat with Steve
JordanJordan
Looking for a career mentor? I've seen my fair share of shake-ups.
Chat with Jordan
BeauBeau
You're doing better than you think!
Chat with Beau
More answers

The Federal Government was selling land for state banknotes of questionable value.

User Avatar

Wiki User

10y ago
User Avatar

Add your answer:

Earn +20 pts
Q: Why was the Specie Circular enacted?
Write your answer...
Submit
Still have questions?
magnify glass
imp