Hard money (policy)
![](http://upload.wikimedia.org/wikipedia/commons/thumb/b/b9/1875_CC_double_eagle.jpg/300px-1875_CC_double_eagle.jpg)
![](http://upload.wikimedia.org/wikipedia/commons/thumb/5/5f/USA-1924-Coin-20.jpg/300px-USA-1924-Coin-20.jpg)
Hard money policies support a specie standard, usually gold or silver, typically implemented with representative money.
In 1836, when President Andrew Jackson's veto of the recharter of the Second Bank of the United States took effect, he issued the Specie Circular, an executive order that all public lands had to be purchased with hard money.
Bentonian currency
In the US, hard money is sometimes referred to as Bentonian, after Senator Thomas Hart Benton, who was an advocate for the hard money policies of Andrew Jackson. In Benton's view, fiat currency favored rich urban Easterners at the expense of the small farmers and tradespeople of the West. He proposed a law requiring payment for federal land in hard currency only, which was defeated in Congress but later enshrined in an executive order, the Specie Circular.[1]
See also
- Gold standard
- Silver standard
- Bimetallic standard
- Bullion coin
- Digital gold currency
- Fractional reserve banking
- Free banking
- Hard money (disambiguation)
- Libertarianism
- Bitcoin
References
- ^ Violette, Eugene (1918). History of Missouri. New York: D.C. Heath & Co. p. 275.
Further reading
- How Gold Coins Circulated in 19th Century America David Ginsburg
- North, Douglas C. (1966). The Economic Growth of the United States 1790–1860. New York, London: W. W. Norton & Company. ISBN 978-0-393-00346-8.
- v
- t
- e
- 7th President of the United States (1829–1837)
- Senator from Tennessee (1797–1798, 1823–1825)
- Federal Military Commissioner of Florida (1821)
- U.S. Representative for Tennessee at-large (1796–1797)
- Battle of Hanging Rock
- Hunter's Hill
- The Hermitage
- White House
- Creek War
- Fort Strother
- Battle of Talladega
- Battles of Emuckfaw and Enotachopo Creek
- Battle of Horseshoe Bend
- Treaty of Fort Jackson
- Battle of Pensacola (1814)
- Battle of New Orleans
- Seminole Wars
- 1824 United States presidential election
- United States Senate Committee on Armed Services
- Corrupt bargain
- 1828 United States presidential election
- Andrew Jackson 1828 presidential campaign
- Coffin Handbills
- Jacksonian democracy
![](http://upload.wikimedia.org/wikipedia/commons/thumb/4/43/Andrew_jackson_head.jpg/100px-Andrew_jackson_head.jpg)
![](http://upload.wikimedia.org/wikipedia/commons/thumb/3/36/Seal_of_the_President_of_the_United_States.svg/100px-Seal_of_the_President_of_the_United_States.svg.png)
- First inauguration of Andrew Jackson
- Tenure of Office Act (1820)
- Spoils system
- Petticoat affair
- Kitchen Cabinet
- Indian removal
- Indian Removal Act
- Trail of Tears
- Treaty of Dancing Rabbit Creek
- Bank War
- Banking in the Jacksonian Era
- Hard money
- Specie Circular
- 1829 State of the Union Address
- 1830 State of the Union Address
- 1832 United States presidential election
- 1832 Democratic National Convention
- Maysville Road veto
- Second inauguration of Andrew Jackson
- Nullification crisis
- Tariff of 1832
- Ordinance of Nullification
- Force Bill
- Tariff of 1833
- Pet banks
- Panic of 1837
- List of federal judges appointed by Andrew Jackson
- List of memorials to Andrew Jackson
- Andrew Jackson (U.S. Capitol statue)
- Andrew Jackson (Washington D.C. and New Orleans statues)
- Black Jack stamp
- The President's Lady
- The Buccaneer (1938)
- The Buccaneer (1958)
- The Gorgeous Hussy
- The Remarkable Andrew
- Bloody Bloody Andrew Jackson
- Man of Conquest
- USRC Jackson (1832)
- USS Andrew Jackson (SSBN-619)
- USS President Jackson
- Rachel Jackson (wife)
- Andrew Jackson Donelson (adopted son)
- Daniel Smith Donelson (adopted son)
- Lyncoya Jackson (adopted son)
- Emily Donelson (acting First Lady)
- Sarah Yorke Jackson (acting First Lady)
- Poll (pet)
- Jackson and slavery
- Jackson as slave trader
- Gilbert
- Alfred Jackson
- Hannah Jackson
Category
![]() | This article related to macroeconomics is a stub. You can help Wikipedia by expanding it. |
- v
- t
- e