1792 Clement Biddle Notarizes a Replacement Treasury Certificate Anderson US 208

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Autographs - Historic & Political Americana -...

By Early American History Auctions

Aug 21, 2021

Set Reminder 2021-08-21 12:00:00 2021-08-21 12:00:00 America/New_York Bidsquare Bidsquare : Autographs - Historic & Political Americana - Militaria & Guns https://www.bidsquare.com/auctions/early-american-history-auctions/autographs---historic-political-americana---militaria-guns-7321
335 Lots of Rare, Historic Autographs, Americana, Civil War Era, George Washington, Revolutionary War Era, Colonial America, Federal Period, War of 1812, Colonial Currency & more... Early American History Auctions auctions@earlyamerican.com

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• Lot Description
  Autographs
  Extremely Rare "Registrar of the Treasury" Joseph Nourse's Autographed
  and Clement Biddle's Notarized 4-Page Replacement Certificate
  (Anderson US 208) Rarity-8 (1 to 3 Known)
  CLEMENT BIDDLE (1740-1814). American Revolutionary War Officer, Biddle fought in the Battle of Princeton, Brandywine, Germantown and Monmouth; Continental Army Commissary General at Valley Forge with George Washington; in 1781, Quarter-Master General of the Pennsylvanian troops. Appointed the First U.S. Marshal (1789-1793) for Pennsylvania by President George Washington.
  JOSEPH NOURSE (1754-1841). Revolutionary War Military Secretary to General Charles Lee, Clerk and Paymaster of the Board of War, Register of U.S. Treasury.
  April 1, 1792-Dated Federal Period, Anderson US 208, Partly-Printed and Manuscript Titled, "Treasury (Department) of the United States" official Document, Signed "Clement Biddle" as Notary Public for the Commonwealth of Pennsylvania (and who appears to have completed this document in his hand), 2 pages plus blank Integral leaf, measuring 9.5" x 7.75", Choice Extremely Fine. This extremely rare United States Loan Office replacement certificate is for 3% interest and is beautifully presented, Rated as Rarity-8 (1 to 3 known). This fiscal document is tri-folded horizontally for mailing and storage, accomplished on bright, clean laid period paper with a "HS SANDY RUN" watermark, attesting to its high quality. Magnificently titled and Signed in huge rich brown ink by both "Clement Biddle Not. Pub." and "Joseph Nourse Resr" the paper lightly embossed with his seal at his last name. Exceedingly rare and important.
  Alexander Hamilton related, the subject Notary Signed, Clement Biddle, June 14, 1792, Register's this Treasury Certificate #4682 for $13,000. Donald & Burton of London's $13,000 3% Funded Debt - Part of Hamilton's Creative Plan to Increase the Fungibility and Liquidity of the Three Classes of Stock in the Public Funds Exchanged for the Revolutionary War Debt According to Hamilton's Plan... to Support the Public Credit of the United States Founding of the NY Stock Exchange Related Anderson rated as Rarity-8 (1 to 3 Known). This is a spectacular, near pristine example of Alexander Hamilton's creative and very successful financial policies designed to encourage foreign participation in the fledgling American financial capital markets. By June 30, 1803 foreigners owned over 48% ($29,548,611.88) of the original Treasury issued Anderson US 3 and 6% Stock in the Public Funds of the United States. This document is a wonderful example of Alexander Hamilton's genius. It is issued less than a month after Hamilton created the "Buttonwood Agreement" as a major part of his solution to our country's First Stock Market Panic and Crash of April-May 1792. The "Buttonwood Agreement" is the founding document of what is now New York Stock Exchange and is one of the most important financial documents in U.S. history. The agreement organized securities trading in New York City and was signed on May 17, 1792, between 24 stockbrokers outside of 68 Wall Street. According to legend, the signing took place under a buttonwood tree, where their earliest transactions had occurred. The New York Stock Exchange celebrates the signing of this agreement on May 17, 1792 as its founding.
  Joseph Nourse was elected Register in 1781, where he assumed responsibility for keeping the financial records and accounts of the new government. Sending original US Certificates back and forth across the ocean to settle securities transactions was very risky in 1792. Hamilton knew how important foreign capital was to seed the nascent American economy so he devised a trading system to be used with foreign traders whereby the original certificates could be held safely in the US Treasury Register's Office and be traded by international counterparties without sending originals but using these Notary signed certifications of the originals and other customized documents from the Registrar's Office. This historic example is the first we have encountered and offered. An extraordinary opportunity to acquire an important foundational fiscal document of the United States.
  Joseph Nourse (1754 - 1841) was the First United States Register of the United States Treasury whose career spanned forty years and six presidential administrations. He played a key role in administering the finances of the new Republic.
  Nourse first served during the American Revolutionary War as military secretary to General Charles Lee. He returned for a short time to his family's farm in Berkeley County, Virginia (now West Virginia). He settled in Philadelphia in 1779, where he served as assistant Auditor General for the Board of Treasury. Nourse was elected Register in 1781, where he assumed responsibility for keeping the financial records and accounts of the new government. He also authenticated each piece of Continental currency by personally signing it.
  In 1800, he moved with the federal government from Philadelphia to the Washington, D.C. He purchased a residence at 3101 P Street in Georgetown. In 1804, he acquired Cedar Hill, now known as Dumbarton House, where he lived until 1813.
  As Register of the Treasury, he worked closely with four administrations and early political leaders of the new nation.
  When Andrew Jackson was elected president in 1829, Nourse was forced from office. A Congressional investigation claimed that Nourse owed the government $11,769.13 due to misappropriation of funds. Nourse countered that the government owed him for "uncompensated services". A Federal circuit court awarded him about $23,582, but it was seven years after his death until his heirs were able to collect the money.
  To George Washington from Joseph Nourse:
  Letter From Joseph Nourse:
  "New York the 16th June 1789.
  Sir,
  It being understood by the proposed arrangement for the Treasury Department that a continuation of the Office of Register is intended, I hope I shall be held excusable in your Excellency's esteem in expressing my wishes to be continued in that Office, and in thus early offering myself to your Notice whenever the nomination and appointment to that Office may come in Form before your Excellency.
  Permit me Sir, -- to acquaint You that it is ten years since the keeping of the Books of the Treasury were committed to me; first as Assistant Auditer General; and lastly as Register (to which I had the honor of being appointed by Congress,) under the administration of the late Superintendant of Finance; and since his resignation, under the present acting Commissioners of the Board of Treasury-To every of my superiors in Office I cou'd refer your Excellency for information with what Zeal, diligence and to the extent of my Abilities I have endeavoured to fill my station.
  I feel myself peculiarly happy in thus addressing myself; because I believe there is no one more sincere in his professions of rendering Your Excellency his best services, nor any one who will with more pleasure than myself, zealously diligently, and with the best of his Ability contribute his mite to the public welfare under the New Government over which You preside. I have the Honor to be Your Excellency's most respectful obedient & devoted servant - (Signed) Joseph Nourse"
  
  
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