Description

    Promissory Note payable to FDR in 1937 "...in gold coin of the United States of America..."

    Franklin D. Roosevelt: Document Signed Three Times.
    -February 1, 1927. New York City. One page. 8.5" x 3.25".
    -Toning, else very fine.

    FDR loan to the Georgia Warm Springs Foundation, Inc. payable "in gold coin." Singed by Franklin D. Roosevelt and Basil O'Connor on the front, endorsed in full by Roosevelt on the verso and, again, with "FDR" on the front under a manuscript "Paid April 20 1927". The note was actually due in 1937, some four years after Roosevelt abolished the production of gold coin.


    More Information:

    The extended description below was supplied by the consignor. We are making it available to our web bidders who are interested in more in-depth research and broader historical perspective. Please note that presentation (i.e. framing), lot divisions, and interpretations of condition and content may occasionally differ from our descriptions. Assertions of fact and subjective observations contained in this description represent the opinion of the consignor. These remarks have not been checked for accuracy by Heritage Auctions, and we assume no responsibility for their accuracy; they are offered purely to allow the bidder insight into the way the consignor has viewed the item(s) in question. No right of return or claim of lack of authenticity or provenance based upon this extended description will be granted.

     

    A one of a kind item, a THRICE signed Franklin D. Roosevelt loan to the Georgia Warm Springs Foundation, Inc. payable "in gold coin." Dated February 1, 1927, New York, the document reads: "$750./ On February 1st, 1937, at the Bank of America, New York City, Georgia Warm Springs Foundation, Inc. a corporation of the State of Delaware, promises, for value received, to pay to the order of Franklin D. Roosevelt, the sum of Seven hundred and fifty dollars in gold coin of the United States of America of the standard of weight and fineness existing on the date of this note, without interest./ The maker of this note may at any time before maturity pay and discharge the same, by payment at said Bank of America of the principal amount thereof, without interest./ Due, February 1st, 1937./ Georgia Warm Springs Foundation, Inc./ By Franklin D. Roosevelt [signed]/ President/ D. Basil O'Connor [signed]/ Treasurer." In the lower left corner is written in FDR's own hand "Paid/ April 20/ 1927/ FDR." On the verso is typed "The within-named payee waives presentment and notice of non-payment of the within note." Underneath this type is written, again in FDR's own hand, "Franklin D. Roosevelt/ Paid/ April 17th/ 1927." Wow! FDR signs his name/initials three times on this legal document, as well as other notations in his own hand, which references his personal loan, to be honored in gold coin, to his beloved Georgia Warm Springs Foundation, Inc. Interestingly, as President in 1933 FDR took the nation off the gold standard. A truly one of a kind item.



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    Auction Dates
    June, 2008
    7th Saturday
    Bids + Registered Phone Bidders: 1
    Lot Tracking Activity: N/A
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