Editing Specie Circular (section)

==History==
The Specie Circular was a reaction to the growing concerns about excessive speculations of land after the [[Indian removal]], which was mostly done with [[soft currency]]. The sale of public lands increased five times between 1834 and 1836. Speculators paid for these purchases with depreciating paper money.<ref name="Wilson">{{cite book|last=Wilson|first=Woodrow|title=Division and Reunion|publisher=Longmans, Green|year=1905|pages=91}}</ref> While government law already demanded that land purchases be completed with [[Coin|specie]] or paper notes from specie-backed banks, a large portion of buyers used paper money from state banks not backed by hard money as a consequence of Jackson's [[Bank War|veto of the rechartering of the Second Bank of the United States]].<ref>{{cite book|last=MacDonald|first=William|title=Documentary Source Book of American History, 1606-1913|url=https://archive.org/details/documentarysour04macdgoog|publisher=The Macmillan Company|year=1916|pages=[https://archive.org/details/documentarysour04macdgoog/page/n377 359]}}</ref>