Changes

Hard money policies consist of a specie standard, usually gold and/or silver, whereby paper currency is backed by the precious medal.  In other words, hard money can be exchanged for a set amount of gold or silver.  This was popular among [[conservatives]] in the late 1800s, and some [[conservatives]] advocate a return to a specie standard based on gold today.

Hard money has two independent meanings.  Both meanings stand for high value.

 

 

In economic terms, hard money is usually gold and sometimes silver.  Hard money policy backs up paper currency such as dollar bills with the right to exchange the paper for the precious medal.  In other words, hard money can be exchanged for a set amount of gold or silver.  This was popular among [[conservatives]] in the late 1800s, and some [[conservatives]] advocate today a return to "hard money" (a specie standard based on gold).

 

 

In [[campaign finance]], hard money means contributions directly to a candidate's campaign for him to spend however he thinks best.  This is the most direct type of campaign support that can be given to a candidate.  Accordingly, it is the most highly regulated form of campaign expenditure.