Specie Circular
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.
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
the specie circular put more pressure on the already-strained state banks to call in loans so they would have sufficient gold and silver resources on hand
enacted values are norms that are exhibited by employees
Andrew Jackson was most closely related to the Specie Circular. By Jackson's 1836 Executive Order, the Specie Circular required payment for government land to be in gold and silver.
The Specie Circular was a U.S. executive order issued by President Andrew Jackson in 1836, pursuant to the Coinage Act. It required payment for purchases of government lands to be in gold and silver.
Specie Circular
The Specie Circular was a U.S. executive order issued by President Andrew Jackson in 1836, pursuant to the Coinage Act. It required payment for purchases of government lands to be in gold and silver.
it triggered a panic
it triggered a panic
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.
Andrew Jackson is most closely related to the Specie Circular. As the president of the United States from 1829 to 1837, Jackson issued the Specie Circular in 1836. This executive order required the purchase of public lands to be made with gold or silver rather than paper currency, with the aim of curbing land speculation and stabilizing the economy.
It forced people buying government land to pay in silver or gold.
The Specie Circular was an 1836 executive order by President Andrew Jackson. This decree required payment for all public lands in gold and silver.
specie circular
Andrew Jackson in 1836, It was called the Specie Circular