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    Description

    Alexander Hamilton, (1755-1804) principal author of the Federalist Papers, and Secretary of the Treasury in the administration of George Washington, Letter Signed, "Alexander Hamilton" one page, 7.75" x 9.25", [Philadelphia], June 4, 1792, a printed circular directed to federal customs collectors explaining that "....having abolished the rate heretofore annexed to the ivre tournois of France; it becomes proper to give some general direction concerning the mode of estimating the value of goods imported from France. It will be understood that the cause of this alteration in the law is the depreciated state of the Assignats, which now essentially constitute the current money of that country..." He continues the explanation setting forth a set of ad hoc rules to determine value of the new currency of France instituted during the French Revolution that proved to be as inflationary as Continental currency during the American Revolution. Thus in an effort to determine actual value of imported goods, Hamilton advised the collectors to primarily rely on the value of "...similar articles prior to the present revolution in France..." A few slight fold tears, hinged mounted to a folder, else fine. Overall a lovely document and quite desirable specimen with financial content. From the Henry E. Luhrs Collection. Accompanied by LOA from PSA/DNA.

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    Auction Dates
    February, 2006
    20th-21st Monday-Tuesday
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