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Lot #162
Alexander Hamilton

Exceptional US Treasury circular from 1792—just after Hamilton prevented economic disaster

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Description

Exceptional US Treasury circular from 1792—just after Hamilton prevented economic disaster

Scarce DS, signed “A. Hamilton,” one page, 7.25 x 9, August 31, 1792. Printed Treasury Department circular. In part: “Agreeably to an order of the Senate of the United States…I have to request that you will furnish me…with the particular statements required by the said order…as Uniformity in the mode of stating the receipts and disbursements will facilitate the business, a form is hereto annexed as a guide…Collectors will obtain and transmit at the same time similar documents from the Inspectors, Gaugers, Measurers and Weighers, or other persons…from which salaries, fees or emoluments are derived.” In fine condition, with intersecting folds, some light scattered staining, and a bit of paper loss to upper left corner. This interesting financial document dates to shortly after Hamilton deftly managed to resolve the Panic of 1792, precipitated by a crash in the price of securities in combination with overextended credit. Hamilton was able to introduce measures to restore confidence in the markets and used the Treasury to buy back securities; his actions were able to stabilize the crisis within just one month, avoiding a prolonged recession. Pre-certified PSA/DNA and RR Auction COA.

Auction Info

  • Auction Title: Rare Manuscript, Document & Autograph
  • Dates: #430 - Ended June 18, 2014





This item is Pre-Certified by PSA/DNA
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