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THB1781 DAVID RITTENHOUSE Signed Revolutionary War Receipt for CONTINENTAL CURRENCY
Lot 87
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About Auction
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By Early American History Auctions
Oct 19, 2019
Set Reminder
2019-10-19 12:00:00
2019-10-19 12:00:00
America/New_York
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Bidsquare : Historic Autographs-Currency-Political-Americana-Militaria-Guns
https://www.bidsquare.com/auctions/early-american-history-auctions/historic-autographs-currency-political-americana-militaria-guns-4513
326 Lots of Rare, Historic Autographs, Americana, Civil War Era, George Washington, Abraham Lincoln, Black History, Revolutionary War Era, Colonial America, Federal Period, War of 1812, Colonial Currency, Indian Peace Medals & more... Early American History Auctions auctions@earlyamerican.com
326 Lots of Rare, Historic Autographs, Americana, Civil War Era, George Washington, Abraham Lincoln, Black History, Revolutionary War Era, Colonial America, Federal Period, War of 1812, Colonial Currency, Indian Peace Medals & more... Early American History Auctions auctions@earlyamerican.com
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- Lot Description
Autographs
David Rittenhouse Signed as Treasurer of Pennsylvania Receipt for a "parcel of paper money said to contain 20,380 1/2 Dollars, Continental Money, uncounted." Likely June 1, 1780 Notes UNITED STATES "Guaranteed" by the Continental Congress Bearing 5% Interest @ $40 to $1
DAVID RITTENHOUSE (1732-1796). Revolutionary War Patriot, Treasurer of Pennsylvania, American Astronomer, First Director of the First United States Mint 1792, Inventor, Clockmaker, Mathematician, Surveyor.
August 13, 1781-Dated Revolutionary War Period, Important Manuscript Autograph Document Signed, "Dav'd Rittenhouse, S. Treas" as State Treasurer of Pennsylvania, being a Receipt for Continental Currency Paper Money, Choice Very Fine. Exceptional historic content relating to receiving "a parcel of paper Money Said to Contain -- 20,380 1/2 Dollars, Continental Money". This "Continental Currency Money" Hand-written receipt, was apparently for accepting newly printed paper money notes issued by the Continental Congress, 1 page, measuring about 5.75" x 2.5", written on fine quality watermarked laid period paper. It is not clear if these were bundles of newly printed full sheets of Currency Notes still requiring official signatures, or if they were being delivered having been signed and ready for distribution by the Treasury of Pennsylvania. This receipt is very clean, well written and is fully in David Rittenhouse's own hand. There is some mild tone at the bottom edge and lower right partially affecting the right side signature.
Most likely, this Receipt is for "Exchange" notes of the June 1, 1780 Issue in "Dollar Money" which carried a special printed 5% interest (Annual table printed on the notes face at lower left). This pursuant to the Continental Congress Resolution of March 18, 1780, Guaranteeing the payment of the bills by the United States. The amount of new "Guaranteed" notes were depentent upon the amount of prior issued Continental Currency notes, this "Exchange" being at $40 in old notes for $1 per new note! (Due to Depreciation of the Currency). This unique rare, historically significant Receipt for new Continental Money Paper notes reads, in full:
"Received Aug. 13th, 1781 of Bernard Dougherty Esq., Treas. of Bedford County, By the Hands of Thomas Story, a parcel of paper Money Said to Contain -- 20,380 1/2 Dollars, Continental Money, uncounted. - (Signed) Davd. Rittenhouse S.(tate) Treas(urer)."
Docket on the blank reverse side reads, in full: "State Treasurer's Rect. 20380 1/2 Dollrs".
Boldly written by David Rittenhouse in rich brown ink on fairly crisp period laid paper and is easily readable. The signature, "Davd. Rittenhouse S.(tate) Treas(urer)" measures a large 3.5" long having a huge decorative flourish below.
David Rittenhouse was the Treasurer of Pennsylvania from 1777 to 1789, and with these skills and the help of later President George Washington, he was Appointed as the First Director of the United States Mint.
On April 2, 1792, the United States Mint opened its doors, but would not produce coins for almost four months. Rittenhouse believed that the design of the coin made the coin a piece of artwork. The first coins were made from silver flatware that was provided by George Washington himself, on the morning of July 30, 1792.
The 1792 coins were Hand-struck by David Rittenhouse to test the new equipment, and were given to George Washington as a token of appreciation for his contributions to making the United States Mint a reality. The coin design had not yet been approved by Congress and were considered to be Pattern coinage. Coin production on a large scale did not begin until 1793. Rittenhouse resigned from the Mint on June 30, 1795, due to poor health. In 1871 Congress approved a Commemorative Coin in his honor.
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