Another mock bank note parodying the "shinplasters" of the 1837 panic. Such small-denomination notes were based on the division of the Spanish dollar, the dominant specie of the time. Hence they were issued in sums of 6 (more accurately 6 1/4), 25, 50, and 75 cents. These fractional notes proliferated during the Panic of 1837 with the emergency suspension of specie (i.e., money in coin) payments by New York banks on May 10 of that year. "Treasury Note" and "Fifty Cents Shin Plaster" (nos. 1837-9 and -11) also use the bank note format to comment on the dismal state of American finances. Unlike these, however, "Humbug Glory Bank" is actually the same size as a real note. The note is payable to "Tumble Bug Benton," Missouri senator and hard-money advocate Thomas Hart Benton, and is signed by "Cunning Reuben [Whitney, anti-Bank adviser to Jackson and Van Buren] Cash'r" and "Honest Amos [Kendall, Postmaster General and influential advisor to Van Buren] Pres't." It shows several coins with the head of Andrew Jackson at left, a jackass with the title "Roman Firmness," a hickory leaf (alluding to Jackson's nickname "Old Hickory"), and a vignette showing Jackson's hat, clay pipe, spectacles, hickory stick, and veto (of the 1832 bill to recharter the Bank of the United States) in a blaze of light. Above is a quote from Jackson's March 1837 farewell address to the American people, "I leave this great people prosperous and happy."|Copyrighted by Anthony Fleetwood, 1837.|Published at 89 Nassau Str. New York.|Signed facetiously: Martin Van Buren Sc.|The print was deposited for copyright on August 21, 1837, by Anthony Fleetwood, and published at the same address (89 Nassau Street) as "Capitol Fashions" (no. 1837-1), also an etching. The Library's impression (the copyright deposit proof) is printed on extremely thin tissue.|Title appears as it is written on the item.|Forms part of: American cartoon print filing series (Library of Congress)|Published in: American political prints, 1766-1876 / Bernard F. Reilly. Boston : G.K. Hall, 1991, entry 1837-10.

This course is an introduction to economics for non-majors and political economy, with an emphasis on the moral and ethical problems that markets solve, and fail to solve. Taught by Professor Michael Munger of Duke University, this course includes full length lectures, links to readings, and a sample final exam.

A caricature of President Martin Van Buren issued during the Panic of 1837, strongly critical of his continuation of predecessor Andrew Jackson's hard-money policies. Particular reference is made to the Specie Circular, a highly unpopular order issued by the Jackson administration in December 1836, directing collectors of public revenues to accept only gold or silver (i.e., "specie") in payment for public lands. Designed to curb speculation, the measure was blamed by administration critics for draining the economy of hard money and precipitating the 1837 crisis. Hearkening back to the anti-Jackson "King Andrew the First" (no. 1833-4), the artist portrays Van Buren as a monarch in a princely cloak, treading on the Constitution. He is crowned "in the name of Belzebub . . . Ragamuffin king" by a demon. Van Buren's cloak is trimmed with "shinplasters," the colloquial term for the often worthless small-denomination bank notes which proliferated during the panic. Van Buren says, "I like this cloak amazingly, for now I shall be able to put into execution my Designs without being observed by every quizing, prying Whig. I'm obliged to keep close since my Safety Fund is blown . . ." Under the Safety Fund law, passed during Van Buren's term as governor of New York, banks were required to contribute to a fund used to liquidate the obligations of banks that failed. The fund was quickly exhausted during the panic. On the walls are pictures of "Bequests of the Late Incumbent" (Andrew Jackson), including "The Hickory Stick," worshipped by the masses like the brazen serpent in the Old Testament, Jackson's spectacles and clay pipe, his hat, the Safety Fund balloon in flames, and "the Last Gold Coin," minted in 1829 (the year Jackson first took office). On the wall at right is a headless statue of Jackson holding a "veto" in his right hand (an allusion to Jackson's 1832 veto of a bill to recharter the Bank of the United States). Visible through a window is a street scene where a crowd mobs a theater exhibiting "a Real Gold Coin." Beneath Van Buren's feet are several documents, including the Specie Circular and "petitions," the missives from New York bankers and merchants which deluged the White House calling for repeal of the Circular. A document labeled "Indian claims" refers to another unpopular Jackson legacy: the numerous grievances by tribes like the Cherokees and Seminoles regarding unfair and inhumane government treaties by which they were being displaced and deprived of their lands.|Copyright secured according to law by F.J. Winston.|Published at 89 Nassau St. NY.|Signed: Forbes Delt.|The Library's impression of the print was deposited for copyright on August 29, 1837, and published at the same address as Anthony Fleetwood's "6 Cents. Humbug Glory Bank" (no. 1837-10).|Title appears as it is written on the item.|Weitenkampf, p. 49.|Forms part of: American cartoon print filing series (Library of Congress)|Published in: American political prints, 1766-1876 / Bernard F. Reilly. Boston : G.K. Hall, 1991, entry 1837-1.

Entered according to the Act of Congress by William Kelly, in the Clerk's Office of the District Court of the United States for the Southern District of the City of New York.|Inscribed in ink above image: Deposited Novr. 6th 1832.|Title appears as it is written on the item.|Forms part of: American cartoon print filing series (Library of Congress)

This course will examine literature and practice regarding community-owned enterprise as an alternative means of increasing community participation and development. The use of cooperatives, credit unions, land trusts, and limited stock ownership enterprises for increasing community participation and empowerment will be examined.

Another mock shinplaster (see also nos. 1837-9 and -10 above). Again the artist attributes the shortage of hard money to the successive monetary programs of presidents Jackson and Van Buren, particularly to the former's pursuit of a limited-currency policy and his dismantling of the Bank of the United States. In the drawing Jackson rides a pig headlong toward a precipice, followed by congressional ally Missouri senator Thomas Hart Benton, on an ass. Both pursue the "Gold Humbug" butterfly, symbolizing their efforts to restrict the ratio of paper money in circulation to gold and silver supplies. Van Buren, riding a fox, cunningly deviates from this disastrous course and follows a downward path leading toward the Bank. Jackson (reaching for the butterfly): "By the Eternal!! I'll have it, Benton!" Benton (whipping his mount with a quill pen): "Go it thou Roman!! a greater man ne'er lived in the tide of times.!!" His quill is labeled "Expunger," an allusion to Benton's extended campaign to "expunge" or remove the 1834 Senate censure of Jackson from the Congressional Record. Van Buren (losing his crown): "Although I follow in the footsteps of Jackson it is &2expedient, &1at &2this time &1to & 2 deviate & 1a little!!" Below the precipice Nicho;as Biddle, Bank of the United States president, sights Van Buren from atop his bank. The note is endorsed by the publisher, who promises "to pay Thomas H. Benton, or bearer, Fifty Cents, in Counterfeit Caricatures at my store . . . " It is dated May 10, 1837, the date of the New York banks' emergency suspension of specie payments.|Entered . . . 1837 by H.R. Robinson.|Published by H.R. Robinson, 52 Cortlandt St. N.Y.|The print was actually registered for copyright on June 10 of that year.|Title appears as it is written on the item.|Weitenkampf, p. 50.|Forms part of: American cartoon print filing series (Library of Congress)|Published in: American political prints, 1766-1876 / Bernard F. Reilly. Boston : G.K. Hall, 1991, entry 1837-11.

In this problem-based learning module, students will research the needs vs wants of a typical family in the US. They will also research  the basic bills a typical family pays throughout a month, create a budget plan for a fictional family assigned to each group, and present budgets to authentic audience.

The Foundation for Teaching Economics is pleased to make available to teachers the content outlines, classroom activities, and teacher materials (demonstration videos and lecture presentations) for each of our residential, one-day, and online curricula. Each curriculum topic link on the left connects you to an overview and table of contents. From there, you may: browse the lessons as web pages; access download links for lessons as editable word documents; use live source links to update statistical data; print instructions and student handouts for classroom activities; and, review and prepare for your classroom by reviewing activity videos and powerpoint lectures.

Do you know what your bank does with your money? What is the role of a bank in producing societal well-being?
This course looks into banks that operate differently, namely, “just banks" that use capital and finance as a tool to address social and ecological challenges.
This course is for anyone who wants to understand the unique role banks play as intermediaries in our economy and how they can leverage that position to produce positive social, environmental, and economic change.
Go to OCW’s Open Learning Library site for 11.405x: Just Money: Banking as if Society Mattered. The site is free to use, just like all OCW sites. You have the option to sign up and enroll in the course if you want to track your progress, or you can view and use all the materials without enrolling.

In this lab, students will continue to practice using terms and vocabulary regarding banking. They will build off of the vocabulary learned in the previous lab, such as banks, banking, money saving and transactions.

A burlesque triumphal procession representing victory for the Democratic platform in the election of 1848. In a chariot drawn by Democrats Lewis Cass and William O. Butler (shown as two horses), Uncle Sam drives toward the White House. On his way he rides over and cuts in two a black man representing abolitionism and then continues over Free Soil candidate Martin Van Buren. Whig candidates Zachary Taylor and Millard Fillmore trail along behind, sharing the saddle of the same bucking horse. Uncle Sam's chariot, called "Firm Confederation," is composed of a cab formed of large eagle wings and a shield. In it ride four crowned Liberty figures. They hold spears with banners reading: "Tariff of 1846," "Welcome [----] Oppressed," "No National Bank," and "Honor and Peace." Uncle Sam remarks enthusiastically, "Do tell now, ain't this the way to make a happy Republic?" Van Buren, visible beneath the chariot's wheels, groans, "Second sober thoughts--I wish I had been out of this muss!" Fillmore comments, "I say Taylor, we two have been too weighty for the Old buster! [i.e., their horse]" Taylor replies, "No, the Old thing was in a very bad condition when we mounted him."|Published by Peter E. Abel & Durang, Philada.|Signed with initials: E.F.D. (E.F. Durang).|Title appears as it is written on the item.|Weitenkampf, p. 95.|Forms part of: American cartoon print filing series (Library of Congress)|Published in: American political prints, 1766-1876 / Bernard F. Reilly. Boston : G.K. Hall, 1991, entry 1848-43.

Another commentary on the Texas question (see "Texas Coming In," no. 1844-28), illustrating Democratic campaign strategy as advanced by Andrew Jackson. The idea of the annexation of Texas, repudiated by many of the early presidential candidates in the field, including Henry Clay and Martin Van Buren, was embraced by Democratic nominee James K. Polk. As the campaign developed the Texas question became an important issue. The artist shows it to be a decisive weapon for the Democrats against Clay and his pro-Bank platform. The "masked battery" is a large cannon fired by Polk and the diminutive Democratic senator from Mississippi Robert J. Walker. Walker's February letter defending annexation had brought the Texas issue to the fore in the campaign. The cannon has been "masked" or hidden from the Whigs on the left by two rows of knights, among whom are Van Buren and Calhoun (carrying flags of their respective states, New York and South Carolina) and John Tyler and Richard M. Johnson. In a balloon above the scene appear Andrew Jackson's "General Orders" on the campaign strategy: "Let the enemy expend their fire on the veteran candidates in Armor [Van Buren, Calhoun, et al], drawn up before the Battery so as to hide it perfectly. Then, when the enemy is prepared to charge, open suddenly to the right and left in double quick time, and let go the big Gun charged with Texas." Polk, lighting the charge, says "Alas poor Harry! You should not have stood by that Bank and opposed our younger sister State who asks our help." At left, Henry Clay, Daniel Webster, and other Whigs are felled by the "Texas" cannonball. Clay is knocked into a column of the U.S. Bank, which breaks and topples the building. Clay: "Oh! who would have thought that behind those leaders they had a commander-in-chief & a masked battery, with my old enemy [i.e., Polk] I d--d to H--l, on the Pensylvania avenue. How did he come here? I'm a gone coon!" Clay refers to his celebrated outburst against then-Speaker of the House Polk in 1838. (On this, see "Scene in Washington," no. 1838-16). Clay's running-mate Theodore Frelinghuysen appears at the far left as a devil in clerical robes, weighed down by an immense "Bag of lies about the Loco Foco Candidates not yet paid for." He says, "The main pillar of the Bank broken! who is now to pay me for all the lies I had stored up in Washington against the Loco Foco candidates? It is too late to make up any about Polk & Dallas, & I shall never be paid unless I take my men on whom the Bank is falling." |Entered . . . 1844 by James Baillie, N.Y.|Lithography and print coloring on reasonable terms by James Baillie No. 33 Spruce St. New York.|Official records show that the print was registered for copyright on June 28, 1844. The Library's impression is inscribed with the deposit date of July 1.|Signed: H. Bucholzer.|Title appears as it is written on the item.|Weitenkampf, p. 75.|Forms part of: American cartoon print filing series (Library of Congress)|Published in: American political prints, 1766-1876 / Bernard F. Reilly. Boston : G.K. Hall, 1991, entry 1844-29.

Title appears as it is written on the item.|Forms part of: American cartoon print filing series (Library of Congress)

The financial crisis of 2007-8 has already revolutionized institutions, markets, and regulation. Wright's Money and Banking V 2.0 captures those revolutionary changes and packages them in a way that engages undergraduates enrolled in Money and Banking and Financial Institutions and Markets courses.

Minimal mathematics, accessible language, and a student-oriented tone ease readers into complex subjects like money, interest rates, banking, asymmetric information, financial crises and regulation, monetary policy, monetary theory, and other standard topics. Numerous short cases, called "Stop and Think" boxes, promote internalization over memorization. Exercise drills ensure basic skills competency where appropriate. Short, snappy sections that begin with a framing question enhance readability and encourage assignment completion.

The 2.0 version of this text boasts substantive revisions (additions, deletions, rearrangements) of almost every chapter based on the suggestions of many Money and Banking instructors.

Another satire on the Panic of 1837, again condemning Van Buren's continuation of predecessor Andrew Jackson's hard-money policies as the source of the crisis. Clay shows the president haunted by the ghost of Commerce, which is seated at the far right end of a table which he shares with a southern planter (far left) and a New York City Tammany Democrat. Commerce has been strangled by the Specie Circular, an extremely unpopular order issued by the Jackson administration in December 1836, requiring collectors of public revenues to accept only gold or silver (i.e., "specie") in payment for public lands. The ghost displays a sheaf of papers, including one marked "Repeal of the Specie Circular," and notices of bank failures in New Orleans, Philadelphia, and New York. Van Buren recoils at the sight of the specter, exclaiming, "Never shake thy gory locks at me, thou can'st not say I did it." Jackson, in a bonnet and dress made of bunting, turns away saying, "Never mind him gentlemen, the creature's scared, and has some conscience left; but by the Eternal we must shake that out of him." Planter (a note reading "Cotton Planters Specie in "Purse." Alabama" protrudes from his pocket): "No credit. Huzza!!" Tammany Irishman (raising a glass): "Down with the Bank!!"|Printed & pubd. by H.R. Robinson, 52 Cortlandt Street, N. York.|Signed with monogram: C (Edward Williams Clay).|Title appears as it is written on the item.|Century, p. 48.|Davison, no. 92.|Hess and Kaplan, p. 202.|Weitenkampf, p. 49.|Forms part of: American cartoon print filing series (Library of Congress)|Published in: American political prints, 1766-1876 / Bernard F. Reilly. Boston : G.K. Hall, 1991, entry 1837-7.

In this lesson, students learn that saving is essential to economic well-being, especially in times of extreme economic downturn. They read Saving Strawberry Farm, a story about a Depression-era family attempting to save a neighbor's farm by waging a penny auction. Students hear about the lack of goods and services available and the high rate of joblessness during this terrible time. They simulate a bank run to see how even those with savings were affected. Finally, they learn that savings are safe in banks today.

Title appears as it is written on the item.|Forms part of: American cartoon print filing series (Library of Congress)

In this lab, students will continue to practice using terms and vocabulary regarding banking. They will build off of the vocabulary learned in the previous lab, such as banks, banking, money saving and transactions.

A crudely drawn but complex satire mocking Zachary Taylor's military background and lack of political experience. Student Zachary Taylor, wearing a paper cap made out of the journal "The True Whig" is seated on a low stool at the feet of his more politically seasoned running mate Millard Fillmore. Taylor reads from a book "Congressional Debates 1848. Slavery . . .", and spells out "W-I-L-M-O-T: Wilmot, P-R-O-V-I-S-O: Proviso. What do I know about such political stuff. Ah! Wait until I get loose, Then you will see what fighting is!" A torn sheet marked "National Bank" lies at his feet. Fillmore, who reads from "The Glorious Whig Principles [by] Henry Clay," admonishes Taylor, "This will never do, you must forsake this course,--for our party is a peaceful and rightous sect--free from wickedness." Behind Fillmore are an open book cabinet, the Constitution, and a globe. This are in obvious contrast to the maps of "The Late War" and a broadsheet "The Life of Johnny Tyler" on the wall behind Taylor. At Taylor's knee sits a bloodhound with a collar marked "Florida," a reminder of Taylor's controversial use of bloodhounds in the Second Seminole War. To the right two black youths polish Taylor's weapons. The first, kneeling and wiping a pistol, says, "By golly! Massa Taylor like fighting better then him dinner." The other, cleaning a sword, claims, "Dis am de knife wot massa use to cut up de Mexijins wid." In the center of the floor are a group of toy soldiers and a cannon.|Probably drawn by E.F. Durang.|Published by Peter E. Abel & Durang, Philada.|Sold by Turner & Fisher, N. York & Philada.|Title appears as it is written on the item.|Weitenkampf, p. 95.|Forms part of: American cartoon print filing series (Library of Congress)|Published in: American political prints, 1766-1876 / Bernard F. Reilly. Boston : G.K. Hall, 1991, entry 1848-44.

Entered according to Act of Congress, in 1838 by H.R. Robinson, in the Clerk's Office of the District Court of the U.S. for the Southern District of N.Y. Printed & published by H.R. Robinson, 52 Cortlandt & 11 1/2 Wall St. N.Y.|Signed in stone: Grinnell del.|Title appears as it is written on the item.|Forms part of: American cartoon print filing series (Library of Congress)