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RareNoiseRecords artists Howard Joseph Ruff (December 27, 1930 – November 12, 2016) was a financial adviser and writer of the pro-hard money investing newsletter The Ruff Times.

In the 1830s, the Locofocos in New York City were radically democratic, anti-monopoly and were proponents of hard money and free trade.

The presidency promoted hard money based on gold and silver, an independent federal treasury, a reduced role for the government in the economy, and a liberal policy for the sale of public lands to encourage settlement; they opposed high tariffs to encourage industry.

" In 1833, Gouge published A Short History of Paper Money and Banking in the United States, which became an influential work among hard money advocates.

Gouge and others who favored hard money policies held that banks had a tendency to issue too many bank notes, thereby triggering speculative booms and contributing to inequality.

The federal charter of the national bank had expired by the end of Jackson's second term, but many hard money advocates still favored the removal of all federal deposits from all banks.

The separation of the Treasury from the banking system was never completed; however, the Treasury’s operations continued to influence the money market, as specie payments to and from the government affected the amount of hard money in circulation.

In periods of prosperity, revenue surpluses accumulated in the Treasury, reducing hard money circulation, tightening credit, and restraining inflation of trade and production.

In periods of depression and panic, when banks suspended specie payments and [currency|hard money] was hoarded, the government’s insistence on being paid in specie tended to aggravate economic difficulties by limiting the amount of specie available for private credit.

President Rutherford Hayes, a Ewing family friend but political opponent of Ewing's campaign, urged Ohio Republicans not to use the painting as it would show Ewing's strong war record against the South, which was contrary to his effort to show Ewing as a weak business leader, and a repudiationist on hard money/soft money issues.