The Specie Circular (Coinage Act) was an executive order issued by U.S. President Andrew Jackson in 1836 and carried out by President Martin Van Buren. It required payment for public lands be in gold and silver specie. An executive order is an edict issued by a member of the executive branch of a government, usually the head of that branch. ... The presidential seal was used by president Hayes in 1880 and last modified in 1959 by adding the 50th star for Hawaii. ... Andrew Jackson (March 15, 1767 – June 8, 1845), was the first governor of Florida (1821), seventh President of the United States (1829-1837), hero of the Battle of New Orleans (1815), a founder of the Democratic Party, and the eponym of the era of Jacksonian democracy. ... Charles Darwin 1836 was a leap year starting on Friday (see link for calendar). ... Martin Van Buren (December 5, 1782 – July 24, 1862), nicknamed Old Kinderhook, was the eighth President of the United States. ... General Name, Symbol, Number gold, Au, 79 Chemical series transition metals Group, Period, Block 11, 6, d Appearance metallic yellow Atomic mass 196. ... General Name, Symbol, Number silver, Ag, 47 Chemical series transition metals Group, Period, Block 11, 5, d Appearance lustrous white metal Atomic mass 107. ... A currency is a unit of exchange, facilitating the transfer of goods and services. ...

It was a reaction to growing concerns about excessive speculation of land after Indian Removal. Most of this speculation was being done with "soft money"; Jackson issued this order to protect the settlers who were being forced to pay greatly inflated land prices with devalued paper currency. As a result of this action, however, much paper money was instantly devalued. However, it also caused much specie (hard money) to be moved to the west to pay for land transactions when it was needed by eastern banks. Specie was already short in the East because the British government restricted the transfer of specie to the United States, which caused the Panic of 1837. This shortage in specie led to a fall in cotton prices, for cotton was used as collateral in most American loans, which required specie. Because it loans were much harder to acquire, cotton became devalued, and the whole US economy suffered as a result. The Specie Circular just made this economic panic worse. Speculation involves the buying, holding, and selling of stocks, bonds, commodities, currencies, collectibles, real estate, derivatives or any valuable thing to profit from fluctuations in its price as opposed to buying it for use or for income ( via dividends, interest etc). ... Indian Removal was a nineteenth century policy of the government of the United States that sought to relocate American Indian (or Native American) tribes living east of the Mississippi River to lands west of the river. ... A family of Russian settlers in the Caucasus region, ca. ... Paper Money is the second album by the band Montrose. ...

The order contributed to the Panic of 1837. The Panic of 1837 was an economic depression, one of the most severe financial crises in the history of the United States. ...