Tehuantepec Company. 1853 I/U Historic Panama Predecessor Bond

Currency:USD Category:Coins & Paper Money / Stock & Bond - Certificates Start Price:475.00 USD Estimated At:600.00 - 1,200.00 USD
Tehuantepec Company. 1853 I/U Historic Panama Predecessor Bond

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Louisiana, 1853. 250 Pounds Sterling I/U 7% Coupon Bond, S/N 712, Black text with black border and red underprint, Louisiana state seal at top center flanked by allegorical women. Vignettes frame the border of the certificate including a ship, train and allegorical woman. All coupons attached at bottom of certificate. XF to Uncirculated condition. The Tehuantepec Company was formed as a result of a grant given to Don Jose de Goray by in 1842 by Antonio Lopez de Santa Anna, the President of the Republic of Mexico. The grant stated the purpose of the company was to open "a line of communication...between the Pacific and Atlantic Oceans, through the Isthmus of Tehuantepec." Through a combination of canals, railroads and steam-carriages, the Tehuantepec Company would provide a fast, commercially feasible link between the two oceans opening a profitable Asiatic trade via San Francisco and Tehuantepec. Support of the concept was widespread and included Judah Benjamin, President Fillmore, Daniel Webster and numerous other notables. Unfortunately, the company dissolved amid a rivalry between the promoters and ultimately, financial failure. An attempt at resurrecting the company was begun with four rival groups claiming ownership to de Goray's original grant in 1842. An extremely historic and early forerunner to the Panama Canal.