Andrew Jackson: “This is the process by which specie is banished by the paper of the…”

On the record

This is the process by which specie is banished by the paper of the banks.

Said by

Democratic · Tennessee

Source

Jackson critiques the impact of bank-issued paper currency on the economy.

More from Andrew Jackson

Mar 3, 1837

Mutual suspicions and reproaches may in time create mutual hostility.

Mar 3, 1837

The power, however, is in your hands, and the remedy must and will be applied if you determine upon it.

Mar 3, 1837

The paper money system of this country may be used as an engine to undermine your free institutions.

Mar 3, 1837

If we turn to our relations with foreign powers, we find our condition equally gratifying.

Other voices in this conversation

Andrew Jackson: “This is the process by which specie is banished by the paper of the banks.”