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    Description

    Texan Indemnity 5 Per Cent Stock. $1000.00 Coupon Bond. (Philadelphia & New York: Toppan, Carpenter, Casilear & Co., 1850) 16" x 13.25". Fourteen years, 5% Interest, payable on a semi-annual basis. Unissued face Specimen, with all coupons intact. Hessler X120 Unlisted Denomination. Issued by the United States as part of the Texas and New Mexico Act of September 9, 1850. A total of $10,000,000 was authorized for this Texan Loan in return for agreeing to maintaining boundaries, ceding claim to territories outside her boundaries, and relinquishing all liability of the debts of Texas, "and for compensation or indemnity for the surrender to the United States of her ships, forts, arsenals, custom houses, custom-house revenue, arms and munitions of war, and public buildings with their sites, which became the property of the United States at the time of the annexation." Ultimately, only $5,000,000 was issued. Although the final principal and interest was payable in 1865, it is likely that the majority of the loan was retired by the outbreak of the Civil War in 1861.

    Beautifully adorned with engravings of Liberty at top center, posed with her shield. Portraits of then President Zachary Taylor and Vice President Millard Fillmore. Sailor and Plenty are featured on the left, and at the right is the allegory of the Arts. Coupons are also ornate, and bearing thirteen state seals and portraits of Washington and Jefferson. The protector is a red "1000" at bottom. A superb example of vignette artistry at its finest. Silked on the verso and in near fine condition. An exceptional bond, ideal for display. Ex. John J. Ford, Jr. Collection. From the Darrel Brown Collection.


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    Auction Dates
    December, 2007
    1st-3rd Saturday-Monday
    Bids + Registered Phone Bidders: 2
    Lot Tracking Activity: N/A
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