OLIVER WOLCOTT JR. - PROMISSORY NOTE SIGNED 04/09/1788 CO-SIGNED BY: ELEAZER WALES, HEZEKIAH ROGERS - HFSID 1972
Sale Price $396.00
OLIVER WOLCOTT, JR., CO-SIGNED BY: HEZEKIAH ROGERS, ELEAZER WALES
1788 Connecticut promissory note for £3:18:0 signed by Oliver Wolcott, Jr. and by Hezekiah Rogers and Eleazer Wales, members of Connecticut's Pay-Table during the American Revolutionary War
Promissory note signed "Oliver Wolcott" as a member of the Pay Table and "Hezekiah Rogers" on front and "Eleazer Wales" twice on verso. 6x5. April 9, 1788. State of Connecticut Pay-Table Office promissory note no. 1050, payable to Eleazer Wales for £3:18:0 "out of the Taxes appropriated for the Payment of the Civil List, and charge the State." The military finances for the colony of Connecticut were handled by the Pay-Table, also known as the Committee of Four, during the American Revolution (1775-1783). Pay-Table members rotated during the lengthy confrontation with England, and included such notables as jurist Oliver Ellsworth, attorney Oliver Wolcott, Jr. (a future U.S. Secretary of the Treasury), Hezekiah Rogers (an aide de camp to General Jedidiah Huntington, who was also a member), William Moseley, Fenn Wadsworth, Eleazer Wales and General Samuel Wyllys, son of Governor George Wyllys. Financing the Revolution laid a heavy burden upon each colony, especially those that balked at levying taxes. In order to meet immediate needs, such as wages, the colonies relied upon wealthy revolutionists, foreign loans, and taxes and gifts from abroad. Connecticut issued promissory notes such as this. Issuing paper money was only a temporary solution, and worthless without specie or gold and silver backing. The U.S. would establish its standard monetary system in 1791. WOLCOTT (1760-1833, born in Litchfield, Connecticut), son and namesake of a signer of the Declaration of Independence, and a former attorney and militiaman, was named to the Pay-Table in 1782, overseeing Connecticut's war expenditures. In May 1784, he was commissioned to adjust the claims of the state against the U.S. government, then named Comptroller of public accounts in 1788. He was auditor of the U.S. Treasury (1789-1791), then Comptroller of that Department (1791-1795). On February 2, 1795, he succeeded Alexander Hamilton as President Washington's Secretary of the Treasury, a position he held until November 8, 1800, when he resigned from the Adams administration. Wolcott later served as thefirst President of the Bank of North America (1812-1814) andGovernor of Connecticut (1817-1827). ROGERS (1738-1814) was a member of Connecticut's Pay-Table, which was responsible for the colony's military expenditures during the Revolutionary War, and was an aide-de-camp to General Jedediah Huntington during that war. WALES (1732-1794) was a Yale graduate and Presbyterian Minister. In addition to his public service on the Connecticut Pay-Table, he was for a time a Justice of the Peace in Hartford. Lightly toned and creased. Wolcott's signature is lightly smeared. Rogers and Wolcott's signatures cross. Show-through on both sides, which touches Rogers and Wales' signatures. Ink transference, which touches Wales' signature. Irregular edges. Light dent at top edge. Folded once and unfolded. Otherwise in fine condition.
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