|
Sale 2
Lot 20
Morris, Robert (1734-1806) Revolutionary patriot and Signer of both the Declaration of Independence, and the Constitution (1734-1806). Pennsylvania member of the Continental Congress (1775-1778). Arranged financing the purchase of supplies for Washington's armies (1776-78). Superintendent of Finance under the Articles of Confederation (1781-84). Founded and organized the Bank of North America (1782). Pennsylvania delegate to the Constitutional Convention ((1787). U.S. Senator. Known as the Financier of the American Revolution. Morris's signature is the first one to appear, below John Hancock's, on the Declaration of Independence.
Autograph Letter Signed. Three pages, Quarto, "The Hills" (Morris' country estate on the Schuylkill River), January 2, 1797. To his partner, John Nicholson, and identified as "No. 1," the first of several letters Morris would pen that day. Some show-through, as usual; otherwise in fine condition.
Robert Morris spent much of 1797 constructing a palatial marble mansion in Philadelphia, designed by L'Enfant, architect of the Federal City; but by February of the next year he was living in "Prane Street," Philadelphia's debtors prision, wallowing in misery while a devastating yellow fever epidemic raged without. Morris would remain in Prane Street for three years, six months, and ten days. When his ordeal finally ended, he was broken in body and spirit, a nearly forgotten man. What was it that brought the chief financier of the American Revolution to this sorry end? Our letter captures many of the elements of the drama, and bears witness to the beginning of the end.
Morris was offered and declined the position of Secretary of the Treasury in Washington's first Cabinet. He was too deeply involved in land speculation to be distracted by public office. The potential value of the undeveloped lands west of the New Republic's settled areas blinded him to the economic realities that would lead to his downfall. With the War ended, the new nation was sliding into recession. Morris failed to foresee the Napoleonic Wars and the ensuing paralysis of Europe. Land values slumped when the expected flood of immigrants failed to materialize. Morris' empire began to collapse for want of buyers to acquire his vast tracts of land in Western New York and elsewhere.
On the day of our letter, Morris had retreated to his country home to sort out his difficulties. The letter is part of that sorting process: "Ben. Harrison,"he tells his partner, John Nickleson, " means Charles Lee the Atty. Genl. to draw our answer to Moore's [probably Senator Alfred Moore (1755-1810)]…Bill. He is the fittest person here for it & I believe you do injustice in your doubts of his of his Law knowledge. Mr. James Marshall [John Marhall's brother] is in Virginia and will not be here 'til March and Ju. Marshall is in France…" Morris' and Nicholson's concern about the Marshall brothers' whereabouts no doubt has to do with their involvement in a syndicate to buy up the large Fairfax estates in Virginia, which ultimately floundered upon Morris' bankruptcy.
Morris moves on to the subject of Nicholson taking advantage of a "generous" offer by one of Morris' creditors to discount a debt and retire it: "The plan…ought to be instantly adopted both by you & me, but for one to do it alone, would bring all your debts to be answered by me…Already that is so much the case that I cannot be worse of[f] and I am sorry there is so much truth in the answer. To look back is useless but if we look forward I see no prospect of rest…"
The stakes had been high; the prize had been great wealth and power. But right now, Morris is worried about where he will hang his hat: "…if my furniture is sold I shall think harder of it than of all the rest…I find M. Moulder differs from Major Hopkins in his opinion of Prane Street accomodations an[d] I think they occupied one and the same apartment." His tone is rueful, and as it turned out, prophetic. Soon his land will be gone and with it, his last hope of succor: "Mr. Tilghman & Co. sold my lands last night for half a dollar an acre [there] being no bidders but themselves, thus you see our property and honours vanish together…"
A month later a small creditor had Morris hauled off to the "Prane Street" prison.
Estimated Value $1,500-UP.
Ex Superior Gallery's April 26/27 Auction, Lot # 1020.
|
| |
| Realized $2,415 |
|