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In July 1836what did Andrew Jackson issued the Specie Circular which required that public lands be purchased using?
In July 1836, President Andrew Jackson issued the Specie Circular, which mandated that public lands be purchased only with gold or silver coins, rather than paper money. This policy aimed to curb rampant speculation and inflation fueled by the use of banknotes. The Specie Circular contributed to a financial panic and economic downturn, as it restricted access to land purchases for many who relied on credit.
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Jacksons treasury department decree that required all public lands to be purchased with hard money?
The Specie Circular was an 1836 executive order by President Andrew Jackson. This decree required payment for all public lands in gold and silver.
What ordered all payments for federal land to be made in gold or silver?
Andrew Jackson in 1836, It was called the Specie Circular
What was the specie circular?
The Specie Circular was an executive order issued by President Andrew Jackson in 1836, which mandated that any purchase of public land must be made in gold or silver rather than paper currency. This aimed to curb rampant speculation and inflation fueled by unreliable banknotes. The circular contributed to economic instability and is often linked to the Panic of 1837, as it restricted the flow of money available for land purchases and increased financial strain on many businesses and individuals.
What was the large piece of land the United States purchased from France?
the piece of land that was bought from France was the Louisiana territory under Jackson's presidency. It was actually bought for 15 million dollars.
Was a direct cause of panic of 1837?
The federal government stopped accepting paper money for the purchase of land.
What was Jackson's Treasury Department decree that required all public lands to be purchased with hard money coins?
specie circular
What required that all western land be purchased with gold or silver?
The Specie Circular of 1836 required all western lands to be purchased with gold and silver coin only. It was mandated by Andrew Jackson.
Jacksons treasury department decree that required all public lands to be purchased with hard money?
The Specie Circular was an 1836 executive order by President Andrew Jackson. This decree required payment for all public lands in gold and silver.
What man was most closely related to the Specie Circular?
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.
Why did Jackson issue species 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.
What did president Andrew Jackson issue in 1836?
In 1836, President Andrew Jackson issued the Specie Circular. This executive order required all public lands to be purchased with gold or silver coins, rather than paper currency. It was intended to curb rampant speculation and stabilize the economy, but instead contributed to the economic downturn known as the Panic of 1837.
Why did Jackson issue the species 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.
What is 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.
What was Jackson's Treasury Department decree that required all public lands to be purchased with hard money?
Specie Curricular
When did Specie Circular happen?
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.
Which of these men most closely related to the specie circular?
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.
What the purpose of the specie circular?
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.
