In the US, hard money is sometimes referred to as Bentonian, after Senator Thomas Hart Benton, who was an advocate for the hard money policies of Andrew Jackson. In Benton's view, fiat currency favored rich urban Easterners at the expense of the small farmers and tradespeople of the West. He proposed a law requiring payment for federal land in hard currency only, which was defeated in Congress but later enshrined in an executive order, the Specie Circular.[1]
hard, money, policy, confused, with, hard, currency, hard, money, policies, support, specie, standard, usually, gold, silver, typically, implemented, with, representative, money, 1875, liberty, head, designthe, 1924, double, eagle, saint, gaudens, designin, 18. Not to be confused with Hard currency Hard money policies support a specie standard usually gold or silver typically implemented with representative money The 1875 CC Liberty Head designThe 1924 Double eagle Saint Gaudens designIn 1836 when President Andrew Jackson s veto of the recharter of the Second Bank of the United States took effect he issued the Specie Circular an executive order that all public lands had to be purchased with hard money Contents 1 Bentonian currency 2 See also 3 References 4 Further readingBentonian currency editIn the US hard money is sometimes referred to as Bentonian after Senator Thomas Hart Benton who was an advocate for the hard money policies of Andrew Jackson In Benton s view fiat currency favored rich urban Easterners at the expense of the small farmers and tradespeople of the West He proposed a law requiring payment for federal land in hard currency only which was defeated in Congress but later enshrined in an executive order the Specie Circular 1 See also editGold standard Silver standard Bimetallic standard Bullion coin Digital gold currency Fractional reserve banking Free banking Hard money disambiguation Libertarianism BitcoinReferences edit Violette Eugene 1918 History of Missouri New York D C Heath amp Co p 275 Further reading editHow Gold Coins Circulated in 19th Century America David Ginsburg North Douglas C 1966 The Economic Growth of the United States 1790 1860 New York London W W Norton amp Company ISBN 978 0 393 00346 8 nbsp This article related to macroeconomics is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Hard money policy amp oldid 1130291468, wikipedia, wiki, book, books, library,
