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Alexander Hamilton Signed Circular Letter. ...
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$6,250.00
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Description
Alexander Hamilton Signed Circular Letter. One page, 7.5" x 6.5", [New York]; August 27, 1792. In this circular, the nation's first Secretary of the Treasury makes several clarifications regarding the exporting process, including procedures for liquor and molasses. He writes, in part, "A difference of opinion between the Collectors and Supervisors has occurred in regard to the seventh section of the Act 'concerning the Duties on Spirits distilled within the United States, &c.' The true construction is, that the abatement of two per cent, for leakage, is to be made, on securing the Duty at the end of the quarter from the whole quantity distilled during the preceding three months - and hence it will be necessary that in cases of exportation, the Drawbacks on distilled Spirits be adjusted with an eye to this allowance." Signed, "A. Hamilton." Matted and framed to an overall size of 16.25" x 15.5".After he was appointed Secretary of the Treasury in 1789, Hamilton turned his attention to solving the nation's debt crisis and instituting policies that protected domestic businesses. In his 1791 treatise, Report on Manufacturers, Hamilton advocated for the growth of nascent industries through clear laws that benefited production and encouragement from the federal government. In this circular here, Hamilton allowed for a decrease in duties charged on exported liquor based on how much of the product leaked on the voyage. This prevented distilleries from paying taxes on lost product.
Condition: Creased at folds with minor separations. Staining throughout, affecting text. Paper loss at left and right margins. Not examined outside of the frame. Frame slightly scuffed.
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: 19
Lot Tracking Activity: N/A
Page Views: 450
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