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THB1793 United States Loan-Office Bond Signed WILLIAM IMLAY Made to Elisha Colt
Lot 212
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About Auction
Live
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
Bidsquare
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
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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
View Full Catalog (325)
- Lot Description
Federal Period
1793 "United States Loan-Office" Bond made to Elisha Colt, Samuel Colt's Cousin & Gun Making Business Banker
(ELISHA COLT) (1758-1827). Among the original subscribers to the Hartford Bank (1793) and First President of the Hartford Society for Savings. He served Hartford as Town Clerk and Justice of the Peace before beginning a long tenure as the State of Connecticut's Comptroller (1806-1819), cousin of Samuel Colt, whose gun manufacturing business was financed by Elisha Colt.
March 12, 1793-Dated Federal Period, Partially-Printed Document Signed, "Wm (William) IMLAY" as Commissioner for the State of Connecticut, "United States Loan-Office" Bond for the State of Connecticut, made to Elisha Colt, Low Serial Number 28, Slash cancel, Anderson CT-56, Rarity-5, Very Fine. Being a Bond payment for $15,428.05 given to "Elisha Colt, of Hartford" for Debt payment to the State of Connecticut (Elisha was a banker and cousin of Samuel Colt, whose gun manufacturing business was later financed by Elisha Colt). One page, measuring approximately 16" wide x 7.5" tall (with its extra, extended wide blank right side sheet selvage measuring about 7.25" wide fully intact). Some scattered spotting and staining and minor sheet fold wear paper loss near center. Great Seal of the United States design in a large oval at upper left. The left side Indenture margin bears the correct "scallop" indent. This very rare form reads, in part:
"United States Loan Office, State of Connecticut. March 12th, 1793. Be it known that Elisha Colt of Hartford hath in pursuance of the Act, entitled, An Act, making provision for the Debt of the United States, subscribed and deposited in this office sixty-six certificates of Debt, due by the State of Connecticut which have been cancelled, and which, with the Interest computed thereon, according to the Laws of said State, to the last day of the Year one thousand seven hundred and ninety-one inclusively, amount to forty thousand for hundred nineteen dollars, thirty cents. ... (Signed) Wm. Imlay, Commissioner."
This major type as illustrated in the Anderson reference, "The Price of Liberty" page 120, known as known as "Imlay certificates" Rarity-5, which states that these special Certificates were only issued between March to April 1793 with written dates. Issued by the Federal Commissioner for the part of the State debt assigned by the Federal government. These were later redeemed by the State of Connecticut with other United States government bonds. Quite rare and made to Elisha Colt, Samuel Colt's Cousin and his Gun Manufacturing business Banker!
ELISHA COLT (1758-1827), Burial: At Old North Cemetery, Hartford, Connecticut.
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