Autographs
William Bingham Signed March 16, 1795, Philadelphia and Lancaster Turnpike Road Stock Certificate as President
WILLIAM BINGHAM (1752-1804). Founder and Director of the Bank of North America; served for six years (1795-1801) as a Senator from Pennsylvania; President of the Philadelphia and Lancaster Turnpike Road; considered the Wealthiest Man in the United States at this time.
March 16, 1795-Dated, Philadelphia and Lancaster Turnpike Road Stock Certificate for 1 Share, Printed on Vellum, Extremely Fine to About New. The central vignette is of a Conestoga Wagon traveling on the newly improved road. This certificate was made out to Frederick Kuhn of the Borough of Lancaster. This share was transferred to Peter Kuhn on Apr. 26, 1817, then to Biddle, Wharton and brothers on May 6, 1817. Finally, on Apr. 2, 1818, it was transferred to the President, Managers, & Co. of the Philadelphia and Lancaster Turnpike Road, finally Transfer Stamped in red on the reverse docketing at bottom in 1899. This company was originally formed to improve the Native American trails in the state of Pennsylvania, thereby facilitating ease of travel. Bold, clear large dark brown ink signature, "Wm Bingham" as President of William Bingham (1752-1804) at lower right, which makes this a more valuable collector item.
The Philadelphia and Lancaster Turnpike, first used in 1795, is the first long-distance paved road built in the United States, according to engineered plans and specifications. It links Lancaster, Pennsylvania, and Philadelphia at 34th Street, stretching for sixty-two miles.
It was later extended by the Lancaster and Susquehanna Turnpike to the Susquehanna River in Columbia. The route is designated Pennsylvania Route 462 from the western terminus to US 30, where that route takes over for the majority of the route.
The US 30 designation ends at Girard Avenue in the Parkside neighborhood of Philadelphia, where State Route 3012 takes it from there to Belmont Avenue. At Belmont Avenue, State Route 3005 gets the designation from Belmont Avenue until the current terminus at 34th Street. Historically, Lancaster Pike terminated at Market Street before Drexel University took over the stretch between 32nd and 34th Streets.
Share of the "Company of the Lancaster and Turnpike Road", issued 16 March 1795
It was the first turnpike of importance, and because the Commonwealth of Pennsylvania could not afford to pay for its construction, it was privately built by the Philadelphia and Lancaster Turnpike Road Company, making it an early example of a public-private partnership for American infrastructure.
Credited as the country's first engineered road, its ground was broken in 1792. By the 1840s, the use of railroads and canals dealt a serious blow to the companies who specialized in the manufacture of wagons and coaches. During the next fifty years, the road suffered from lack of use and maintenance, but later saw recovery with the invention of the automobile.
Near the end at 34th Street. Lancaster Avenue ends as a road, but continues as the "Lancaster Walk" pedestrian walkway on the campus of Drexel University
In 1876, the parallel Pennsylvania Railroad bought the turnpike from 52nd Street in Philadelphia west to Paoli for $20,000 (equal to $549,625 today) to prevent competing streetcar companies from building along it.
In 1913, the turnpike became part of the transcontinental Lincoln Highway, and tolls continued to be collected until 1917, when the State Highway Department bought it for $165,000, equal to $3,768,857 today. In 1926 it was designated as part of U.S. Route 30 along with the rest of the original United States Numbered Highways.