Description

    Massachusetts Commodity Bond January 1, 1780. One page, 11" x 5.5", "State of Massachusetts Bay", with printed date "First Day of January, A.D. 1780." Intricately engraved border and reading in part: "...I the subscriber do hereby promise and oblige myself and successors in the Office of Treasure of the said State to pay unto my Capt. Thomas Bolter or to his order, the sum of two hundred and seventy five pounds on or before the first day of March, in the year of our Lord One Thousand Seven Hundred and Eighty Four with interest at six per Cent. per Anum: Both Principal and Interest to be paid in the then current Money of said State, in a greater or less sum according as five bushels of Corn, sixty-eight pounds and four-seventh parts of a pound of beef, ten pounds of sheeps wool, and sixteen pounds of sole leather..." These Commodity Bonds are perhaps the most interesting of all the Massachusetts fiscal paper, because both their principal and interest were tied to the current price of various commodities (corn, beef, sheep's wool, sole leather) at the date the bond was due. The bonds were authorized to cover the depreciation of pay received by Continental soldiers and sailors. Signed by Henry Gardner as Treasurer. Near fine condition but for minor edge paper loss.


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    Auction Dates
    June, 2008
    3rd-4th Tuesday-Wednesday
    Bids + Registered Phone Bidders: 2
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