Pres. Martin Van Buren is caricatured in this political cartoon published during the financial crisis known as the Panic of 1837. Critics opposed Van Buren's refusal to accept paper money as payment for public debts. The panic wrought havoc in Alabama, especially on its overextended and badly administered state bank. Gov. Clement Comer Clay called a special session of the state legislature in response, and they enacted the Relief Act of 1837. Its provisions left the bank in even worse financial condition.