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The Specie Circular was issued by President Andrew Jackson in 1836. This executive order required that payment for government land be made in gold or silver rather than paper currency, aiming to curb land speculation and promote a stable economy. The policy, however, contributed to the financial panic of 1837 due to a decrease in money supply and credit availability.
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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.
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 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.
What did president Jackson issue to slow the inflation caused by the proliferation of paper money and to restrict land expansion?
President Jackson issued the Specie Circular of 1836
What did presidents Jackson issue to slow the inflation caused by the proliferation of paper money and to restrict land expansion?
President Jackson issued the Specie Circular of 1836
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.
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.
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 order the species circular?
President Jackson issued the species circular in 1836 to require payment for government land to be in specie (gold or silver) rather than paper money. This was an effort to curb land speculation and reduce the inflated value of paper currency.
What is the reason that Andrew Jackson issued the specie circular in July 1836 requiring payment in gold or silver?
to strengthen the government's currency
What were effects specie circular?
The Specie Circular, issued in 1836 by President Andrew Jackson, required that payments for public lands be made in gold or silver rather than paper money. This policy aimed to curb land speculation and stabilize the economy but ultimately contributed to a contraction of credit. The immediate effects included a decline in land sales and a financial panic in 1837, as many banks faced insolvency due to increased demand for hard currency. Overall, the Specie Circular intensified economic instability and set the stage for a broader financial crisis.
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.
