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 ?
The crisis of 1857 gave them a chance to earn extensive profits during the general suspension of specie payment. Banks could issue as many notes as they liked; thus, even regular banking institutions could make illegal profits legally against such a background.
(9) The Southern states encouraged and later authorized their banks to suspend specie payments in exchange for emergency "war loans" needed to make hasty war preparations even before the Confederacy could be organized.
Banks suspended specie payment. Although payment was resumed briefly in 1838, 1839 brought renewed suspensions and more bank failures.
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.(10) The fact that the Chemical Bank was able to maintain specie redemption while all other banks in the city suspended was not overlooked by the public, and came to be a bragging point for the bank.
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.S.
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. Gold from the Banque de France saved the Bank of England.