Nicholas Biddle Signed Bank of the United States £1000 Bill of Exchange

Signed “N Biddle”, as President of the Bank of the United States and countersigned by “J Cowperthwait”, as cashier. This bill of exchange, No.5038, is issued to T. H. Young for £1000 to be charged in 60 days to the Bank of the U.S. Endorsed with further docketing on verso. 1p, measuring 8.75" x 4.25", London, dated December 3, 1838. The bill has flattened folds and minor creasing. Light uneven toning and soiling throughout. With a cancellation punch at the center. Archival tape has been placed over a small hole where an ink burn occurred. Boldly signed by Biddle.

Nicholas Biddle (1786-1844) was an American financier who served as the third and last president of the Second Bank of the United States (chartered 1816–1836). He also served in the Pennsylvania General Assembly. He is best known for his role in the Bank War. A member of the prominent Biddle family of Philadelphia, Nicholas Biddle worked for prominent officials such as John Armstrong Jr. and James Monroe in his youth. After returning to Philadelphia, he won election to the state legislature. While serving in the legislature, he successfully lobbied Congress and President Monroe for the creation of a new central bank, which became known as the Second Bank of the United States. In 1822, Monroe appointed Biddle as the third president of the bank. Biddle would continue to serve as the bank's president for several years, during which time he exercised power over the nation's money supply and interest rates, seeking to prevent economic crises.

This item comes with a Certificate from John Reznikoff, a premier authenticator for both major 3rd party authentication services, PSA and JSA (James Spence Authentications), as well as numerous auction houses.

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