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Specie
(redirected from Specie payment)

    Also found in: Wikipedia 0.06 sec.

SPECIE. Metallic money issued by public authority.
     2. This term is used in contradistinction to paper money, which in some countries is emitted by the government, and is a mere engagement which represents specie. Bank paper in the United States is also called paper money. Specie is the only constitutional money in this country. See 4 Monr. 483.
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? References in periodicals archive
The states with banking institutions required banks to accept Confederate currency on deposit at par as a new condition for the suspension of specie payment.
The Emancipation Proclamation, Confederate expectations, and the ... by Kanago, Bryce / Southern Economic Journal
Specie payments, required by law until 1870, deposited hard money into an economy weakened by the Civil War, overshadowing much-vaunted cotton and cattle production as a financial restorative.
The U.S. Army and the Texas Frontier Economy, 1845-1900 by CHRISTIAN, GARNA L. / Journal of Southern History
In the early days of the war, Austria-Hungary, France, Germany, and Russia all went off the gold standard as they suspended specie payments and instituted legal or de facto embargoes on the export of gold by private citizens.
The International Gold Standard and U.S. monetary policy from World ... by Crabbe, Leland / Federal Reserve Bulletin
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