October 25, 2021 10:00 EST

The Alexander Hamilton Collection of John E. Herzog

 
Lot 15
 

15

[Hamilton, Alexander] [First Bank of the United States]
Manuscript Promissory Note

New York, December 9, 1791. One sheet, 3 1/2 x 8 in. (89 x 203 mm). Manuscript promissory note, signed by Gabriel Furman, issued to Daniel C. Verplanck: "On the twenty sixth day of this month of December I promise to Receive from Daniel C. Verplanck on Order twenty Scrips of the National Bank Stock of the United States and to pay him on order at the rate of one hundred & twenty eight Dollars for each Scrip..." Creasing from original folds. A fine example. Lot includes a partially-printed Bank of New-York receipt issued to Daniel C. Verplanck, dated March 21, 1803.

A manuscript promissory note between New York merchant Gabriel Furman (a future director of the Mechanic's Bank of New York) and banker Daniel C. Verplanck (original subscriber to the Tontine Coffee House and future Representative from New York), for twenty scrips in the newly founded Bank of the United States (see lot 14). Upon the issuance of this document the United States's financial markets were only recently recovering from the Crisis of 1791—a scrip bubble that occurred following the opening of the Bank of the United States—and three months away from the crash that led to the first financial crisis in American history, the Panic of 1792.

Sold for $1,386
Estimated at $500 - $800


 

New York, December 9, 1791. One sheet, 3 1/2 x 8 in. (89 x 203 mm). Manuscript promissory note, signed by Gabriel Furman, issued to Daniel C. Verplanck: "On the twenty sixth day of this month of December I promise to Receive from Daniel C. Verplanck on Order twenty Scrips of the National Bank Stock of the United States and to pay him on order at the rate of one hundred & twenty eight Dollars for each Scrip..." Creasing from original folds. A fine example. Lot includes a partially-printed Bank of New-York receipt issued to Daniel C. Verplanck, dated March 21, 1803.

A manuscript promissory note between New York merchant Gabriel Furman (a future director of the Mechanic's Bank of New York) and banker Daniel C. Verplanck (original subscriber to the Tontine Coffee House and future Representative from New York), for twenty scrips in the newly founded Bank of the United States (see lot 14). Upon the issuance of this document the United States's financial markets were only recently recovering from the Crisis of 1791—a scrip bubble that occurred following the opening of the Bank of the United States—and three months away from the crash that led to the first financial crisis in American history, the Panic of 1792.

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