Lot 366: ANTIQUE War Of 1812 Treasury Gov Doc 1815-16 Signed in TYPE by Treasury Sec W. H. Crawford & Register Joseph Nourse

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April 26, 2018, 7:00 PM EST
Edgewater, FL, US
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Description: ANTIQUE Removed US Government Document Regarding Financing The War Of 1812. ANTIQUE US Government Document removed from original published House or Senate volume. 22 Pages Titled: "Letter From The Secretary Of The Treasury, Transmitting His Annual Report On The State of Finances." Large Paper 26 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 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 auction sales, carriages, liquor distilleries, retail wine licenses and refined sugar. Although by the spring of 1814 Congress had authorized President Madison to borrow $32.5 million to pay for the war, by summer the investment climate for U.S. Treasury bonds was dismal, and the government's inability to borrow money hampered its inability to pay for the defense of Washington. This was a report from the Secretary Of The Treasury to the U. S. House (of Representatives) Ways & Means committee dated December 20, 1816 which covered finances, especially for the War of 1812, for 1815-16. This report on US finances could be summed up in two words: "Piss Poor"!

The letter of transmittal page is SIGNED IN TYPE by Wm. H. Crawford (1772-1834), who was Virginia-born American statesman. He owned Georgia-based plantations and began his political rise as a circuit court judge. Elected US Senator in 1807, then minister to France and Secretary of War in 1815. He became Secretary of the Treasury in 1816 and served in that post until 1825. In those posts he helped bear the brunt of financing the War of 1812 for which the U. S. was militarily & financially woefully unprepared. He was considered for the US presidency in 1816, versus James Monroe but declined to run. Crawford was known in his politics as a particular rival of Henry Clay, John C. Calhoun, and others.

The report is also SIGNED IN TYPE by Register Joseph Nourse. Joseph Nourse (1754-1841) who was the first United States Register Of The Treasury whose career spanned forty years and six presidential administrations. He played a key role in administering the finances of the new Republic. He was elected Register in 1781, where he assumed responsibility for keeping the financial records and accounts of the new government. He also authenticated each piece of Continental currency by personally signing it. As Register of the Treasury, he worked closely with four administrations and early political leaders of the new nations. When Andrew Jackson was elected President in 1829, Joseph Nourse was forced from office under Jackson's infamous "Spoils System."

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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