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Auction: 322 - The Numismatic Collector's Series Sale
Lot: 1096

United States Government Stock: John & Francis Baring, a part printed document, Devonshire Square, London 12 September 1799, being an official notice from Barings, on behalf of the Bank of America to Barclay, Tritton & Co., Lombard Street, London of dividends due to them on United States 6% stock, black printing on laid paper with G-R (Georgius Rex) and escutcheon watermark, 8 1/3 x 10 3/8", By Order of the Bank of the United States of America, we have the Honor to acquaint you, that we have received from them a Remittance for Interest on American Stock standing in your Name, as particularized at the Foot of this Letter, and which we are ready to pay to you any Morning, betwixt the Hours of Ten and One, signed on behalf of Barings by Thomas Nixson (a clerk who was later, in 1809, to become a partner in the firm), manuscript details of the dividend below, the whole folded and used in the postal system, wax seal and now cut to reveal the contents, very fine and rare.

Although there were few quoted stocks in the United States, it was a very active market with bankers and merchants in Europe and seen as having much potential for profit and growth. Barings had a long history of dealings in America from the time of the Revolution and in the 1790's Sir Francis Baring sent his second son, Alexander, to America with full authority to deal for the firm. They became the official agents in London for the Bank of America, which in turn was the sole agent for the United States Government in handling interest on its funded debt in Europe, as is shown by this piece. Alexander was also to be an important asset to the United States in their acquisistion of Louisiana from the French.

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