Which of the following was true of the Specie Circular?

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The Specie Circular was an executive order issued by President Andrew Jackson in 1836 that required payment in gold or silver for the purchase of public lands. This was intended to curb speculation by forcing buyers to pay with hard currency rather than inflated paper money, but it ultimately contributed to the economic downturn known as the Panic of 1837. The Circular did not pay off the national debt, give excess federal money to the states, outlaw paper currency, or stabilize the economy for the rest of the 1830s.

Which of the Following Was True of the Specie Circular