Asked by Tivaashan Varathanathan on Jun 13, 2024
Verified
The 1836 Specie Circular provided that only gold or silver would be accepted as payment for _______________.
A) federal lands sold to speculators
B) loans extended to corporations
C) tariffs imposed on luxury items
D) taxes owed by individuals
Specie Circular
An 1836 executive order by President Andrew Jackson that required payment for government land to be in gold or silver, leading to a shortage of specie.
Gold or Silver
Refers to the historical debate and political movement in the late 19th century United States advocating for the free coinage of silver in addition to gold to expand the money supply.
- Recognize the root causes and effects of major economic policies and crises on the socio-political environment in the United States.
Verified Answer
AN
Ariana NicoloJun 13, 2024
Final Answer :
A
Explanation :
The 1836 Specie Circular was an executive order issued by President Andrew Jackson that required payment for federal lands to only be made in gold or silver, rather than paper currency or bank notes. It was intended to limit speculation in western lands, which had become inflated due to easy credit and bank notes, and to stabilize the economy by promoting the use of hard currency. The circular did not pertain to loans, tariffs, or taxes.
Learning Objectives
- Recognize the root causes and effects of major economic policies and crises on the socio-political environment in the United States.
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