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Specie Circular

   Also found in: Wikipedia 0.06 sec.

Specie Circular

(July 11, 1836) Executive order issued by Pres. Andrew Jackson. It required payment for purchases of public lands in gold or silver (specie means “money in coin”). The circular attempted to reduce the amount of paper money in circulation and limit land speculation. The result was deflationary and partly contributed to the economic crisis called the Panic of 1837. The U.S. Congress repealed the circular in 1838.
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