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State of Connecticut, 1781 Treasury Office Note for Loan Payable in Spanish Milled Dollars and One o

Currency:USD Category:Coins & Paper Money / Paper Money - United States Start Price:140.00 USD Estimated At:260.00 - 375.00 USD
State of Connecticut, 1781 Treasury Office Note for Loan Payable in Spanish Milled Dollars and One o
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Hartford, Connecticut. February 1st, 1781. Issued Treasury Office Note for 40 Pounds, 16 Shillings and 6 Pence "Lawful money" Issued to a woman named Sarah. Black text and handwriting, POC at center, S/N 1426, CT-20. Signed by John Lawrence as Treasurer, Interest paid endorsements on back. The loan was "payable in gold or silver coins...after cessation of hostilities between Great Britain and these United States." John Lawrence (1719-1802) served as treasurer of the Connecticut colony, and later as the Connecticut State Treasurer from 1769 to 1789, spanning the crucial period of colonial rule, through the American revolution, and into the early years of the United States. During the Revolutionary War, Lawrence was commissioner of loans for the new nation. Financing the Revolution laid a heavy burden upon each colony, especially those which balked at levying taxes. In order to meet immediate needs, such as wages, the colonies relied upon wealthy revolutionists, foreign loans, and taxes and gifts from abroad. Issuing notes, like these, was only a temporary solution. Fine condition with some staining and toning. Rare loan document and one of the first ones issued mentioning the "United States."