1 fev 1836 ano - Pet Banks & Species Circular

Descrição:

After closing down the 2nd BUS, Jackson called for taking out all the federal money and giving it to banks in various states known as pet banks. As a result of this, prices for land and goods became inflated and Jackson tried to fix this by creating the Species Circular that only allowed federal land to be paid with gold and silver than paper banknotes. This backfired and led to banknotes losing their value and land sales to decrease causing the Panic of 1837.

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