Andrew+Jackson+RB08

Andrew Jackson- Hard Money Hard money describes gold, silver, and platinum (bullion) coins. Soft Money is paper currency, as opposed to gold, silver, or some other coined metal. He renounced all banknote currency and demanded a return to the " hard money" of gold and silver. When the bank’s charter expired it accepted a new one from Pennsylvania and continued to operate as a state institution. []

Jackson wanted every one to use hard money because when you use that you pay for whatever you need to but when you use soft money (dollar bills) then you could lend 10,000 dollars to many people but you don't even have it and you go into dept, like what is happening with everyone right now which is everyone is in dept and can't get out of it.

Jackson began a push to move towards "hard" currency, gradually phasing out small bills over more than twenty years. He and Benton believed that only gold and silver provided proper security, as, during financial bust periods, working-class people could not get credit. Hard money, then, ensured the workers would always be paid in money that had real value.