(1837) Token Illustrious Predecessor HT-31, Illustrious Predecessor

Coin Details

Auction Record

$660 AU53BN 08-20-2019 Stack's Bowers

Description

This iconic 1837 token features one of the most memorable satirical designs in American political numismatics. The obverse depicts a jackass running left with the legend "I FOLLOW IN THE STEPS OF MY ILLUSTRIOUS PREDECESSOR," quoting Martin Van Buren's inaugural address of March 4, 1837. The reverse shows a tortoise carrying a strongbox or safe on its back, symbolizing the ponderous progress of Van Buren's proposed Sub-Treasury system, with the inscription "EXECUTIVE FINANCIERING" or "FISCAL AGENT." The "Illustrious Predecessor" tokens are among the most politically charged pieces in the entire Hard Times series. Van Buren's inaugural speech, delivered just weeks before the Panic of 1837 struck, included the phrase "I follow in the steps of my illustrious predecessor" as a tribute to Andrew Jackson. Whig satirists immediately seized upon this, depicting Van Buren as a jackass literally following in the hoofprints of another jackass — implying that both presidents were stubborn fools leading the nation to economic ruin. The tortoise on the reverse was an equally pointed symbol. Van Buren's Sub-Treasury plan, which proposed separating government funds entirely from private banks, was ridiculed by Whigs as impossibly slow, inefficient, and backward-looking. The tortoise struggling under the weight of a government safe captured this criticism perfectly, suggesting that Van Buren's economic policies would move the country at a snail's pace while burdening it with bureaucratic overhead.

Rarity Notes

Common. The Illustrious Predecessor tokens are among the most frequently encountered and widely collected political Hard Times Tokens, with substantial original production ensuring good availability.

Cross References

Low 17; Rulau HT-31; DeWitt CE-1837-4