In 1837 and again in 1857, financial crises caused loss of confidence in paper money and widespread redemption of currency in coin. Banks were soon forced to suspend specie payments, and tokens and fractional notes had to serve as smaller change.

During the Civil War, there were no metallic coins of any denomination in circulation. Tradesmen were thus forced to issue a medium that would save commerce. Many of these tokens depicted patriotic subjects. The irresponsible nature of these tokens forced Congress to pass an act in 1864, forbidding private individuals to issue any form of money.

Daniel Webster was a strong advocate for the United States Bank, and therefore, opposed Jackson and Van Burren's policies. In 1837 and again in 1857, financial crises caused loss of confidence in paper money and widespread redemption of currency in coin. Banks were soon forced to suspend specie payments, and tokens and fractional notes had to serve as smaller change.

During the Civil War, there were no metallic coins of any denomination in circulation. Tradesmen were thus forced to issue a medium that would save commerce. Many of these tokens depicted patriotic subjects. The irresponsible nature of these tokens forced Congress to pass an act in 1864, forbidding private individuals to issue any form of money.

Charles Sherwood Stratton was the four year old son of a Bridgeport, Connecticut, carpenter in 1842 when P.T. Barnum "discovered" him and transformed him into General Tom Thumb, an eleven-year old European marvel. Barnum trained the child to sing, dance, and imitate famous persons. Under the guidance of Barnum, Tom Thumb performed at the American Museum and toured the world as one of the best-known midgets, until his death in 1883 at the age of 46.

In 1837 and again in 1857, financial crises caused loss of confidence in paper money and widespread redemption of currency in coin. Banks were soon forced to suspend specie payments, and tokens and fractional notes had to serve as smaller change.

The Robinson's Jones & CO. recieved the American Institute medal for their metallic buttons in 1833, and issued these tokens to advertise the award. In 1837 and again in 1857, financial crises caused loss of confidence in paper money and widespread redemption of currency in coin. Banks were soon forced to suspend specie payments, and tokens and fractional notes had to serve as smaller change.

The "executive experiment" refers to the establishment of the Subtreasury system. The tortoise with the safe on its back alludes to the slow progress the experiment made, and the running jackass alludes to the Van Buren's rapid growth in popularity. In 1837 and again in 1857, financial crises caused loss of confidence in paper money and widespread redemption of currency in coin. Banks were soon forced to suspend specie payments, and tokens and fractional notes had to serve as smaller change.

In 1837 and again in 1857, financial crises caused loss of confidence in paper money and widespread redemption of currency in coin. Banks were soon forced to suspend specie payments, and tokens and fractional notes had to serve as smaller change.

"Shinplaster" is a term for bills of irresponsible banks and private parties. The image of the phoneix rising from flames seems to mean that the paper money was only fit to be burned, and that with its elimination, new live would rise from the ashes. The date, November 1837, refers to a convention of represntatives for leading banks in New York to fix a date for resumption. The decided date to resume specie payments was May 10, 1838, exactly one year aftert the suspension.