What does the palm leaf represent in Willa Cather's The Sculptor's Funeral?

Literally, it represents some sort of decoration of Harvey Merrick for his art, a kind of designation into a society of artists whose work has been widely recognized. It is an emblem of achievement that is clearly renowned in the the more sophisticated world from which Henry Steavens comes, yet unknown by the uncouth watchers over Harvey's coffin. In his shock and disbelief that his mentor could possibly come from such a place and such a people, Steavens asks, "Was it possible that these men did not understand, that the palm on the coffin meant nothing to them?"

In terms of a specific award or artistic society, I haven't been able to find an answer.