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The Specie Circular was an executive order issued by President Andrew Jackson in 1836 aimed at curbing speculation in land purchases. It mandated that payment for public land be made only in gold or silver coins, rather than in paper currency or other forms of payment. This policy was intended to stabilize the economy and reduce inflation but ultimately contributed to the Panic of 1837 by restricting access to land purchases and worsening the economic downturn.

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1w ago

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