EARLY RHODE ISLAND LAND INDENTURE. Partially printed document accomplished and signed ('Benjamin...
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Description
EARLY RHODE ISLAND LAND INDENTURE. Partially printed document accomplished and signed ('Benjamin Peckham'), being a land bank indenture securing 195 pounds in public credit for Benjamin Peckham in exchange for 65 acres of land, 405 x 335 mm, accomplished in ink, witnessed and signed by Benj. Nichols and Daniel Gould, considerable water staining & spotting, edge wear. Document issued as part of an early Rhode Island land bank scheme which would arrange for a loan of public credit against land from private citizens. One of the most controversial early American financial practices, the land bank scheme would print currency backed by the future sale of public lands. In this case, Peckham received 195 pounds, and had to pay 4% interest on his debt, and 1/10 of the principle per year. Lot to be sold without reserve. This lot is subject to the following lot symbols: ¤ ¤ Without reserve For further information on this lot please visit Bonhams.com
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