Lot 259
Gallatin, Albert (1761-1849) Swiss-born American statesman and financier; longest-serving Secretary of the Treasury (1801-1814). Letter signed as Secretary of the Treasury, 1 page, 9¾ x 7¾ in., Treasury Department, Jan. 10, 1805. To Jonathan Williams of Elizabethtown, New Jersey, responding to his questions about interest payments on domestic and foreign debt. In part: "…I have the honor to observe that in conformity with the provisions of the acts respecting the public debt, the dividends on the Domestic Debt must necessarily be paid in the United States. The interest due on the Dutch Debt, and on the Louisiana Stock, is paid in Europe, by virtue of the contracts or convention under which such debt or stock originated…." The Louisiana Stock was floated by the Jefferson administration in order to finance the purchase of Louisiana from France. The Dutch Debt dated back to the time of the American Revolution and the loans that were negotiated by Benjamin Franklin and John Adams. An important financial letter.
Estimated Value $300 - 400.
|
| |
| Realized $600 |
