Invoice of 137 Bundles of Continental Dollars in the Loan Office by Congress

Lot 156

About Seller

Early American History Auctions

P.O. Box 3507
Rancho Santa Fe, CA 92067
United States

Bid Increments

Price	Bid Increment
$0	$10
$200	$20
$300	$25
$500	$50
$1,000	$100
$2,000	$200
$3,000	$250
$5,000	$500
$10,000	$1,000
$20,000	$2,000
$30,000	$2,500
$50,000	$5,000
$100,000	$10,000
$200,000	$20,000
$300,000	$25,000
$500,000	$50,000

About Auction

Colonial & Continental Currency-Coinage-Historic Peace Medals- Encased Postage Stamps by Early American History Auctions

Live

Colonial & Continental Currency-Coinage-Histo...

By Early American History Auctions

Jul 13, 2019

Set Reminder 2019-07-13 12:00:00 2019-07-13 12:00:00 America/New_York Bidsquare Bidsquare : Colonial & Continental Currency-Coinage-Historic Peace Medals- Encased Postage Stamps https://www.bidsquare.com/auctions/early-american-history-auctions/colonial-continental-currency-coinage-historic-peace-medals--encased-postage-stamps-4256 Historic Coins, Colonial & Continental Currency, Political, Americana, Encased Postage Stamps, Peace Medals Early American History Auctions auctions@earlyamerican.com

View Full Catalog (268)

Lot Description

American Revolution
Continental Congress Sends New Paper Money "Invoice of 137 Bundles of Continental Dollars" Currency Delivery of May 5, 1780 "Guaranteed by the United States" Notes to the State of Massachusetts Bay
1780 Revolutionary War Dated, Continental Congress Treasury Loan Office, Manuscript Document, Unsigned, Prepared by Michael Hillegas to Nathaniel Appleton, Choice Very Fine.
October 18, 1780-Dated (perhaps started somewhat earlier), Unsigned (Michael Hillegas and Nathanael Appleton). This is an Important original Continental Congress issued Fiscal Document headed, in full:

"Invoice of 137 Bundles of Continental Dollars deposited by John Bradford Esqr. (Continental Treasury Agent for Massachusetts) in the Loan Office by virtue of an order of Congress in favour of Michael Hillegas Esq. & by him endorsed to N. Appleton."

This State of Massachusetts Bay and Continental Currency related Manuscript Document has 2 pages (back to back), measuring 13" x 8", boldly written in deep brown, being a fully detailed accounting of the issued paper money, listing the amounts in each bundle, totaling $1 million to one point, then it continues on through October 18, 1780 in Boston, where an additional sixty bundles are added for a total amount of $1,450,000.

Here, Continental Treasurer Michael Hillegas has sent to Appleton via the local Continental agent John Bradford, the newly issued Continental Currency notes "Guaranteed by the United States" issue of the May 5, 1780 Act. This new paper money issued and sent to replace other Massachusetts received Continental Currency notes that had just been officially devalued. High inflation during the Revolutionary War meant the old notes were to be redeemed at a Ratio of 40 Old Dollars to 1 New "Guaranteed" United States Dollar. The new issue also paid Five Percent Interest per year, with a small printed schedule of interest payments located at the lower left corner on the face side of the new notes (not included). An amazing original source Document of United States Currency being replaced after a massive official devaluation! This historic document directly tied to the issuing of America's very first "bailout" program from the Continental Congress to the State Treasury of Massachusetts (which was conducted with several other States that joined in this same program).
As recorded in the Journals of Congress, "Monday August 21, 1780 John Bradford, Continental Agent, for prizes in the State of Massachusests Bay, for two millions of dollars."
Shipping Info
- Early American provides in-house worldwide shipping. Please contact us directly if you have questions about your specific shipping requirements.
Buyer's Premium
- 23.00 %