Description

    Declaration Signer Robert Morris Autograph Letter Signed "Robt Morris". One page, 4.75" x 7.5", "Hills", January 9, 1798 to Garret Cottringer. Only a month away from landing in debtor's prison, Morris writes in full: "In reply to Mr. J. Simonds application you may inform him that The Board of managers of the Pennsylvania Property Company will sell him such part of the Estate as they & he can agree for, but altho they may sell at the valuation yet they are not obliged to do so -- for as the value of property rises & falls from Circumstance not foreseen it is their duty to get the most they can when they sell, Capt. Simonds may buy & pledge the shares as Security for the payment of the purchase Money, and then the dividends the shares draw will go to pay that debt but the Shares cannot be received as Actual payment 50 days our Command..." Morris(1734-1806), Signer of the Declaration of Independence, financier and politician, was instrumental in the financing of Washington's armies, and later financially ruined through his speculation in western lands. Morris wrote this as his speculative empire was crashing all around him. With nothing else to sell off to satisfy his creditors, his land holdings worthless, he entered the debtor's prison on Prune Street in Philadelphia in February, 1798. Addressed in his hand on verso. Usual folds, ragged bottom margin, a few holes from ink erosion, else fine condition.

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    Auction Dates
    October, 2006
    12th-13th Thursday-Friday
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