President Andrew Jackson had a history of "paying it forward" during his presidency. He felt it was his responsibility to make sure the Indians were paid in 1838. It was weighing on his mind and after they signed the Treaty of 1836 he wanted to make sure they were paid in gold and silver rather than paper currency they never understood the value of.
He also knew the government Treasury was empty and he wouldn't let the Treasury borrow on credit. He maintained the government in the worst moment like everyone else needed to learn to budget and he told Congress to get busy and prioritize. They had a deadline to meet, but Jackson himself decided he wouldn't let the government default on payment to Indians. For now the government had no gold or silver of its own - just worthless paper currency, but the banks wanted nothing to do with his specie circular and rescinded it on their own causing greater hardship.
Flash! Let's time travel - transport to 1862.
As onlookers we stand in the crowd of Indians as Chief Cobmoosa stands on the threshold of his new government built log home. Gathered together outside the doorway his people stood in Elbridge in Oceana County, Michigan, waiting for Cobmoosa to answer questions to his identity as the "Last Ottawa Indian Chief of the Grand River Valley."
Cobmoosa was not an Ottawa Indian - he was Potawatomi, the Sub-chief of Noonday under the Treaty of 1821. He did not become an Ottawa Chief until the death of his father-in-law Chief Wobwindigo who passed his command before death after the Treaty of 1836 was signed.
The weary old Indian that time had neglected took off his rawhide poke (small bag with hide string), He poured the contents into his hand for guests to see. The gold coins had raised lettering marked, "Treaty of 1836" or "1836."
This is what Jackson had Italian and Spanish minters inscribe on his coins. He felt he owed a debt of gratitude to prominent Chief Cobmoosa, Wabasis and Jean Boshaw of the Ada bands. All were educated half breeds born of from French Canadian fathers. Wabasis and Boshaw signed no treaties, but Cobmoosa did as an Ottawa for the Treaty of 1855 and was the last Ottawa Chief of the Grand River Valley.
Jackson ordered these gold coins prior to issuing his Specie Circular order to financial institutions on July 11, 1836. These specially minted coins weren't available until Spring 1838 for Indian payment. Residual gold and silver coins trickled into the monetary State banks and Treasury in late 1836.
Jackson was always thinking about how rotten people were who cheated the Indians and let them barter for goods based on yearly credit up to $1000.00. This is what got them into trouble and Jackson thought up the specie payment policy at a time when America was falling into a severe depression. Actually it was a world-wide depression with Europe suffering the worst.
He saved America by thinking outside the box - beyond his years. He wanted what was best for America. In hindsight he was considered the smartest President and used his citizenship as an individual and put others first.
Old Hickory was destined to help America again, not as President but as Citizen Andrew Jackson to the rescue of Texans. With the initial signing of the Treaty of 1836 just weeks away for Native American lands (March 28, 1836) north of the Grand River to the Straits of Mackinaw Jackson was anticipating rebel Indians were stirring up trouble. He received a military dispatch on his desk. Instead of opening the letter he let it lay and... (continued)