1792 TREASURY DEPARTMENT CIRCULAR SIGNED BY ALEXANDER HAMILTON
HAMILTON, Alexander. Printed circular signed. No place, February 21, 1792. One leaf, printed on recto, measuring 7 by 9-1/2 inches; floated, matted and framed with an engraved portrait; entire piece measures 16-1/2 by 22 inches. $17,500.
Original 1792 Treasury Department circular concerning the transmission of payments from Custom-Houses, signed by the United States Treasurer, Alexander Hamilton.
“In September 1789, Alexander Hamilton became secretary of the treasury and emerged as the chief architect of economic policy in the Washington administration. Hamilton almost singlehandedly reorganized the nation’s finances, managing debts and establishing the public credit… He also performed the vital task of setting up the customs service that was charged with collecting import duties at the principal U.S. sea ports. By all accounts, he managed the customs service with efficiency and great attention to detail, ensuring that it operated smoothly and functioned free of corruption” (Douglas A. Irwin). The printed document reads in full: "Treasury Department February 21st, 1792. (Circular) Sir, In pursuance of arrangements with the Bank of the United States, I have to desire, that after the expiration of a month from the time of the receipt of this letter, you will discontinue the execution of my former instructions concerning the receipt, and exchange for specie, of the Cash Notes and Post Notes of the Banks of North-America and New-York. It is wished by the Treasurer that the Draughts paid at the Custom-Houses, may be transmitted as soon as possible, after their discharge, to the Treasury. It will be best, therefore, that the Draughts mentioned in your weekly returns of Cash, paid and received, should always be enclosed in them. I am, Sir, Your most obedient servant, [signed] A Hamilton." Interestingly, this circular was composed by Hamilton during the financial panic of 1792, “America’s first financial market crash, during which securities prices dropped nearly 25 percent in two weeks. Hamilton adroitly intervened to stem the crisis, minimizing its effect on the nascent nation’s fragile economic and political system” (Richard Sylla). Docketing (partially cut off) dated May 10, 1792 on the verso.
Light foxing. Handsomely framed.