History of the United States I / Unit 10 USH1 1385 short lesson, about 20 seconds
The Specie Circular
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The idea
Jackson issued an executive order requiring that western land sales be conducted using gold or silver only.
In practice
A measure aimed at speculation in western land.
Where people slip
It proved disastrous when the Bank of England cut back loans to America, draining domestic gold and silver reserves and making hard currency scarce.
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