Specie Circular - Your Art History Reference Guide!

ArtHistoryClub Information Site on Specie Circular Art History Art History Search        Art History Browse             News        Gallery        Forums        Articles        Weblinks        welcome to our free resource site for all art history lovers!

Specie Circular

The Specie Circular (Coinage Act) was an executive order issued by U.S. President Andrew Jackson in 1836. It required payment for public lands be in gold and silver specie.

It was a reaction to growing concerns about excessive speculation of land after Indian Removal. Most of this speculation was being done with "soft money"; Jackson issued this order to protect the settlers who were being forced to pay much higher prices for land. As a result of this action, however, much paper money was instantly devalued, and the economy was destabilized.

The order contributed to the Panic of 1837.

Last updated: 08-30-2005 09:27:53
Last updated: 01-04-2007 01:18:57
The contents of this article are licensed from Wikipedia.org under the
GNU Free Documentation License. See original document.
Art History Search | Art History Browse | Contact | Legal info