Map of Cairo Tourist on Although Jackson’s stance alienated northeastern business interests, his popularity with farmers and artisans afforded him a handy victory. After the election, he took measures to destroy the bank. But without a national banking system, the country was soon plagued by enormous inflation. Maintaining his commitment to a policy of hard money (gold and silver), in 1836, Jackson issued the Specie Circular, prohibiting the use of paper money in the use of federal lands. He believed that requiring hard currency for land purchase would end the frenzy of land speculation. However, in 1837, a financial panic seized the nation and Congress overturned the Specie Circular issuance. Thus, during the course of his administration, Jackson maintained his desire to remove financial privilege from the government. Map of Cairo Tourist 2016.
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