$18,450
Sherman, Roger (1721-1793) Autograph Letter Signed, 18 August 1778 [and] Return Autograph Letter Signed by Benjamin Trumbull (1735-1820) 5 October 1778. Single leaf with self-envelope inscribed on both sides, original seal intact, torn when originally opened, old folds, some breaks along those folds, in a double-glazed frame. To Benjamin Trumbull, concerning the state of currency in the economy in 1778, [together with] Trumbull's reply to Sherman on the verso and address panel of self-envelope, 14 3/4 x 9 in. Sherman writes, "The affair of our currency is to be considered in Congress today-what will be done to restore and support its credit is uncertain. We can't lessen the quantity much while the Army is kept up. I trust the fullest assurance ought & will be given for redeeming it in due time and for exchanging Gold & Silver for what shall be outstanding at the period fixed for its redemption as the expressed value, the whole that has been emitted is a little more than 60,000,000 dollars. I think a period of about 14 or 15 years should be fixed for sinking the whole. That taxes for about 6 million dollars per annum for four years, five million dollars for 5 years and four million dollars per annum for the residue of the period should be immediately laid to be collected as a sinking fund, with liberty for each state to raise more than their annual quota & be allowed 6 percent for the time they may anticipate the payment. That each of the other states that have not called i Read more…
Auctioneer:
Skinner
Date:
2017-05-23
