Lot 369: ANTIQUE 1814 Treasury Gov Doc for War Of 1812 Taxes Collected Signed in TYPE by Acting Treasury Sec Samuel Smith

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The Book Barn

April 26, 2018, 7:00 PM EST
Edgewater, FL, US
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Description: ANTIQUE Removed US Government Document Regarding War Of 1812 Taxes Collected. ANTIQUE US Government Document removed from original published House or Senate volume. 11 Pages Titled: "Letter From The Secretary Of The Treasury, Transmitting In Obedience To A Resolution Of The 10th Instant, Statements Of The Revenue Received Under Existing Laws." Large Paper 11 page US Government printed Document, approximately 13 inches high X 8 inches wide. Each page in text and/or in charts showing the struggle the US Government was having in financing the government due to the expenses incurred as a result of the War Of 1812. The nation went to war without a wide-ranging financial strategy. The federal government's revenue largely came from customs duties and land sales, but war meant that the Royal Navy's blockade & British indian allies on the frontier caused those revenues from these sources to nosedive. There was no federal taxation of incomes and the Bank of the United States' charter had been allowed to run out in 1811, depriving the government of a major source of loans and credit. The government now had to use state banks and wealthy individuals as the basis for capital for its loans. In July 1813 Congress consented to a series of direct taxes on land and property, and on transactions and products including slaves, dwellings, & auction sales, carriages, liquor distilleries, retail wine licenses and refined sugar. The investment climate for U.S. Treasury bonds was dismal and the government was faced with paying off the war expenses & financing the coming year's government costs. This was a report from the Acting Secretary Of The Treasury to the U. S. House (of Representatives) dated October 14, 1814 which covered tax assessments for each US state & territory. Of course, the Acting Treasury Secretary says in the Letter Of Transmittal the figures are for the amounts assessed not the amounts collected, a polite way of saying "catch the state taxpayers if you can." The document makes for fascinating reading, showing the struggle the central government had in financing the War of 1812.

The letter of transmittal page is SIGNED IN TYPE by Samuel H(arrison) Smith (1772-1845) who was an American journalist and newspaper publisher. He founded the "National Intelligencer" in 1800. He was a friend, confidant and counselor to president Thomas Jefferson. In 1813 Smith was appointed Commissioner of the Revenue for the United States Treasury Department by President Madison, and on September 30, 1814, Secretary of the Treasury, ad interim. During the period 1809-19 he was president of the Bank of Washington and then president of the Washington branch of the Bank of the United States until the position was abolished in 1835.

Paper is age toned but not brittle/one edge rough where it was removed from binding, o/w Overall Good Condition. ALL ITEMS ARE GUARANTEED TO BE ACCURATELY DESCRIBED, NOT DEFECTIVE, & GENUINE.

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Condition Report: Good Condition
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