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Abraham Lincoln and Stephen A. Douglas Documents Signed. ...
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Description
Abraham Lincoln and Stephen A. Douglas Documents Signed. Eight documents from a single legal case between Illinois politician William L. May and the State Bank of Illinois, dated August 29, 1838 to February 19, 1842. Documents are partially printed and written in ink and measure from 7.25" x 5.25" to 7.25" x 12". This collection features the signatures of rivals Abraham Lincoln and Stephen A. Douglas almost two decades before the famed debates that launched Lincoln onto the national political stage. Here, Lincoln and Douglas appear as colleagues called in to consult on the foreclosure case of the mayor of Springfield, William L. May.On August 18, 1841, the State Bank of Illinois represented by Jesse B. Thomas sued May for failure to pay back a loan of $6,000 with interest. Originally signed in 1838, then-Congressman May agreed to sign over the deed to 3,186.63 acres in Sagamon County to secure the loan. Douglas served as a witness to this original deed and on November 17, 1838, signed, "S.A. Douglass."
By 1841, May had returned to Illinois and become Mayor of Springfield. Yet he had not repaid the loan, estimated with interest at over $7,000. Accordingly, on August 18, 1841, the State Bank of Illinois sued May for the deed of the land he had mortgaged in 1838 in order to satisfy his debt. The mayor did not contest the case and chose Abraham Lincoln as one of three appraisers tasked with valuing the acreage. On February 19, 1842, Lincoln signed the final certificate of sale, "A. Lincoln."
Although May did not deny that he had failed to pay back his loan, the case against him reflected broader financial uncertainties that plagued the United States throughout the 1830s and the 1840s. In January 1836, President Andrew Jackson declined to renew the contract for the Second Bank of the United States, believing that the federal institution harmed states' rights. However, the bank's demise led to a rapid swell of the money supply as over 850 state banks began to rapidly issue bank notes. This crisis led to the Panic of 1837 and the failure of hundreds of local banks, including the State Bank of Illinois. A six-year depression ensued, causing domestic and global ramifications. The case against May was just one of many suits against debtors as the State Bank of Illinois attempted to try and recoup its losses. Ultimately, their efforts failed and the state legislature forced the bank to liquidate all of its assets in 1843.
This lot depicts two of the nation's greatest statesmen at the beginning of their political careers. Although Douglas had been involved in state politics since 1834, he did not win a national nomination until 1843 when he secured a seat in the U.S. House of Representatives. From there, Douglas moved on to the Senate and played a pivotal role in the lead-up to the Civil War. He is perhaps most well-known for the Compromise of 1850. Like Douglas, Lincoln had also been involved in Illinois politics since 1834, when he won a Whig seat in the Illinois House of Representatives. He then served in the U.S. House of Representatives from 1847 to 1849, where he set the foundation for becoming one of the foundational leaders of the Republication Party.
Condition: Documents creased along folds. Toning throughout with paper loss at margins for several documents. The mortgage deed of conveyance has complete separations along folds, resulting in several fragments. The affidavit of non-residency of two defendants has complete separation along center fold. Some scattered stains and minor tape repairs.
Auction Info
2023 September 21 Historical Manuscripts Signature® Auction #6272 (go to Auction Home page)
Auction Dates
September, 2023
21st
Thursday
Bids + Registered Phone Bidders: 8
Lot Tracking Activity: N/A
Page Views: 609
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