Hard Money (policy)
Hard money policies (as opposed to fiat currency 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.
Read more about Hard Money (policy): Dual Definition
Famous quotes containing the words hard and/or money:
“They make a great ado nowadays about hard times; but I think that ... this general failure, both private and public, is rather occasion for rejoicing, as reminding us whom we have at the helm,—that justice is always done. If our merchants did not most of them fail, and the banks too, my faith in the old laws of the world would be staggered.”
—Henry David Thoreau (1817–1862)
“The way I see it, God gave me the body, so I intend to use it. It’s a big ego trip.... You know, you look around a bar, you pick out a guy and you say, that’s the one: I’m going to take all of his money tonight.”
—Teresa Beaty (b. c. 1975)