Which of the Following Was True of the Specie Circular

question 51

Multiple Choice

Which of the following was true of the Specie Circular?

• A) It paid off the national debt.
• B) It gave excess federal money to the states.
• C) It required gold or silver payment for public lands.
• D) It outlawed paper currency.
• E) It stabilized the economy for the rest of the 1830s.

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Definitions:

Economic Regulation

The imposition of rules by government, aimed at modifying the economic behavior of individuals, firms, or industries to achieve public policy objectives.

Article I

The section of the U.S. Constitution that establishes the legislative branch of the federal government, granting Congress the power to enact laws.

Legislative Power

The authority given to a legislative body to make, amend, or repeal laws.

Federal Courts

Specialized courts in the United States with the power to try cases related to federal law and constitutional issues.