Hard money (policy)
Type of monetary policy / From Wikipedia, the free encyclopedia
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Not to be confused with Hard currency.
Hard money policies support a specie standard, usually gold or silver, typically implemented with representative money.
In 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.