Previous Lot Next Lot

Auction: 10USA - NYC Currency and Stock & Bond Auction
Lot: 1074

Boston, Massachusetts Feb. 22, 1787. One Hundred Pounds. Mostly typeset receipt on laid paper. Issued to Elias Hasket Derby, Esquire. Signed ´Edwin Payne & Son ´. One -inch round glue mounting remnant on back only, else VF+. After the Revolution, there was an economic depresiion throughout New England. Small property holders who could not pay their taxes faced imprisonment. Town meetings talked of tax relief, and the issuance of paper money, but these issues were opposed by the legislators. Daniel Shay emerged as the leader of a localized rebellion which tried to close the courts in order to prevent action against debtors. Neither the Federal government, nor the state, would supply money for the militia to put the rebellion down, but some $20,000 was borrowed from "private sources," probably through a subscription campaign. On Januray 25, 1787, Shay and his supporters attacked a Confederation arsenal in Springfield, but they were repulsed by General Lincoln. Shay escaped to vermont, and was eventually pardoned. This note is a receipt given to Elias Hasket Derby for paying in the one hundred pounds subscribed by him to the "...Loan for procuring Provisions and Necessaries for the Militia ordered to Worcester..." A similar item, dated three months later than this one, brought over $4,000 in our September 2003 auction. Estimate US$ 2,000-4,000

Sold for
$1,250