 During the war of 1812 there was a suspension of species payments. So banks and the government for its treasury notes They were not redeeming them in speci and after the war various people many politicians wanted to return to the gold standard Etc. Boost American credit abroad and so on. So in order to return to the gold standard You would have to either unless you wanted to basically Reduce the the the value of the dollar abroad or reduce how much it was it was worth in terms of dollars You had to either let the the country grow up to its money supply by increasing the supply of goods And that would slowly lower prices or you would contract currency Okay, and this would lower prices and it would make it feasible for banks to return to the gold standard So the contraction of the currency was proposed by many people It was proposed by old Republicans at this time period But the national Republicans wanted to have their cake and eat it too. They wanted to basically say, okay Let's have banks resume speci payments But instead we're gonna have instead of them being forced to contract We will have the second bank of the United States lend them money to help them do this Okay, this was really just kind of pushing the problem You know, there's kind of shifting me the burden around Because what this was doing is instead of causing specie to leave the banks It would cause specie to leave the second bank of the United States This is talk about sort of approximate cause of the panic of 1819 But it was really just it was similar to the 1920s if you've read Rothbard's America's Great Depression When Great Britain is trying to return to the gold standard But at the same time instead of engaging in tractionary monetary policy, it's engaging in expansionary monetary policy These are mutually contradictory. You can't get both. You can't have your cake and eat it too But various politicians they they thought they could get away with this So the monetary system at this time period is is is sort of in shambles It's not really a hard money system There's been this great proliferation of banks during the war and many politicians are eager to return to specie payments But they don't want to have to make the necessary sacrifices in order to do so