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

Question

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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.

The 1836 Specie Circular Provided That Only Gold or Silver