Description

    Franklin D. Roosevelt: Typed Letter Signed as Vice President of Fidelity and Deposit Company of Maryland. [No date]. New York. One page. 7.25" x 10.5". Fidelity and Deposit Company of Maryland letterhead. [Unaddressed]. FDR authors his resignation from the Federal International Investment Trust Organization Committee. FDR and Georges St. Jean began organizing the Federal International Investment Trust with an idea of selling American goods through the Federal International Investment Trust to foreign purchasers. The foreign purchasers then deposited into the trust securities that were guaranteed by foreign banks. American investors paid cash into the Trust. The cash was used to pay the American goods manufacturers for their products. In return for their investment of cash, the American investors received debentures or bonds collateralized by the foreign securities. In this letter FDR appears to back out of the project: "Since the first of the year Mr. St. Jean and I have worked on plans for a Federal International Investment Trust and it is a source of great disappointment to withdraw from the Organization Committee which is supporting the charter...". Presumably he signed multiple copies of his resignation letter unsure to who each would be sent to. Paper slightly toned, with the usual fold creases, signature slightly faded, else very good.

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    Auction Dates
    November, 2009
    17th-18th Tuesday-Wednesday
    Internet/Mail Bids: 1
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