specie

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specie

1. coin money, as distinguished from bullion or paper money
2. in specie
a. (of money) in coin
b. Law in the actual form specified
References in periodicals archive ?
In 1837 John Quincy Adams commented on the suspension of convertibility by saying, "We are now told that all the banks in the United States have suspended specie payments--and what is the suspension of specie payments but setting the laws of property at defiance?
The crisis of 1857 gave them a chance to earn extensive profits during the general suspension of specie payment.
In order to preserve the specie in the banking system, Southern state legislatures, except Louisiana and Florida, authorized their banks to suspend specie payments before the end of 1860.
The Chemical Bank was known for a long time as "Old Bullion" because it was the only New York City bank that did not suspend specie payments during the panic of 1857.
The second suspension ended only when the legislature threatened to revoke the bank's charter if it did not resume specie payment within six months (Harding 1895, 18).
Whatever the root causes of the inflationary boom or the precipitating cause or causes of the bust, the suspension of specie payments was accompanied by deflation and a suddenly increased burden of debt repayment.
In the winter of 1861 and 1862 the banks of New York City suspended specie payments, taking the U.
The eventual massive external drain and a run on country banks forced the government to allow the Bank to suspend specie payments in 1797.
government, aided by the Bank of the United States, to bring about a resumption of specie payments (Timberlake 1993, pp.
With the exception of the New Orleans and Mobile money centers, most banks in the South had suspended specie payments in November 1860 after the election of Abraham Lincoln (Godfrey 1978: 69).
True, the Bank did not have to suspend specie payments.