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MA. United States Loan Office Certificate, State of Massachusetts, 1791, I/C Registered Bond Signed

Currency:USD Category:Coins & Paper Money / Paper Money - United States Start Price:600.00 USD Estimated At:1,000.00 - 1,500.00 USD
MA. United States Loan Office Certificate, State of Massachusetts, 1791, I/C Registered Bond Signed
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United States Loan Office, Massachusetts, December 17th, 1791, Registered Bond for $633.19 issued to Samuel Dexter Jr. of Charlestown, Esq. The certificate is printed in black with left border design incorporating the federal eagle shield and a large “B” counterfoil, with ornate engraved frame. Manuscript entries fill in the date, amount, and payee, noting interest at six percent per annum beginning January 1st, 1790, in accordance with the Act of August 4, 1790, which authorized Alexander Hamilton’s funding plan to consolidate Revolutionary War debts under the new federal government. Boldly signed by Nathaniel Gorham as Commissioner of Loans for Massachusetts, a significant political figure and signer of the U.S. Constitution. A circular punch cancellation is present at center, with strong manuscript signatures and minimal wear. These early federal bonds are among the earliest debt instruments issued by the United States following ratification of the Constitution. Massachusetts Loan Office certificates represent the assumption of Revolutionary War debt into the funded national debt system designed by Treasury Secretary Alexander Hamilton, establishing U.S. credit at home and abroad. The named payee, Samuel Dexter Jr. (1761–1816), would later become a U.S. Senator from Massachusetts and serve as both Secretary of War and Secretary of the Treasury under Presidents John Adams and Thomas Jefferson.