This system allowed the federal government to keep up with specie payments, which helped alleviate some of the financial stress that the bank suspensions had brought on.

By the end of his term, the state was experiencing budget surpluses and state banks had resumed specie payments.

As the state's economy recovered, its banks resumed specie payments.

A century ago, for 15 years, war caused us to suspend specie payments - but never with any intent to accept the vice of fiat money.

He urged banks to suspend specie payments and to exchange large amounts of capital for state bonds.

By the end of the month the banks had suspended specie payment on their own banknotes.

When specie payments were suspended, the Clearing House issued loan certificates that could be used to settle accounts.

The resumption of specie payments was perceived as a method to curb the rise in the price level and eventually equate currency with gold.

The primary economic product of the Act was that it instilled confidence in the business community on the maintenance of specie payments.

During his time in politics, Connor advocated civil service reform, and supported the resumption of specie payments.