Another satire on the Panic of 1837, again condemning Van Buren's continuation ...
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.