Nov 07, 2017 - Sale 2461

Sale 2461 - Lot 92

Price Realized: $ 2,375
Show Hammer Price?Final Price Realized includes Buyer’s Premium added to Hammer Price
Estimate: $ 500 - $ 750
ADAMS, JOHN QUINCY. Partly-printed Document Signed, receipt for 5 United States Loan Certificates amounting to $9,500. The certificates [not present], each 8% stock dated October 1, 1801, issued by U.S. Commissioner of Loans (for MA) Thomas Perkins. 5x8 inches; trimmed at lower edge, mounted along one edge to larger sheet. [Boston], 30 November 1801

Additional Details

The U.S. government issued loan certificates to generate funds to pay off previous loans as well as to defray current and previous expenses beginning with those incurred by the Revolutionary War. The 8% stocks mentioned in the present lot were likely authorized by the Act of July 16, 1798, and were intended to raise $5 million to fund military expansion "for and during the continuance of the existing differences between the United States and the French Republic" (the Quasi-War).
Only one other example of a similar receipt signed by Adams was located.