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Principio Company 1769 Colonial Bill of Exchange.

Currency:USD Category:Collectibles / Historical Memorabilia Start Price:230.00 USD Estimated At:350.00 - 600.00 USD
Principio Company 1769 Colonial Bill of Exchange.
SOLD
230.00USDto s*****r+ buyer's premium + applicable fees & taxes.
This item SOLD at 2020 Oct 05 @ 17:06UTC-4 : AST/EDT
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Kingsbury Furnace, Maryland.... 1769. 180 Pounds Stg, 1st of Exchange, for the account of North East Forge. William Russell, one of the founders of this early Colonial Maryland iron company is listed on the front of the exchange. Endorsed and signed on the back by W. Baxter, G. Russell and others. VF+ condition. Serial # 34. The Principio Company formed as a joint stock company in 1720 to take advantage of new laws passed in Maryland to encourage the early iron industry. By 1729, one of the partners was Augustine Washington, father of George Washington. In 1735, the Principio Company established a refining forge at North East to expand processing capacity which this bill of exchange refers to. The Principio Forge deteriorated, and in spite of repairs in 1772, it was no longer in operation by 1776. Historic Maryland Iron Company Bill of Exchange.