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    Albert Gallatin-Signed June 30, 1812 Act Transmittal

    United States - Act of June 30, 1812 Treasury Department Circular. Uncertified. Very Fine.
    This circular transmitted from the Treasury Department, dated September 21, 1812, is signed by Albert Gallatin (as Secretary of the Treasury). A partly printed form. It is a folded two-page document with a blank leaf for mailing and unfolds to 19.0 cm by 32.0 cm. Fully accomplished, and addressed to the Collector of Customs at Marblehead. The document was sent Free Frank (via regular mail without the sender needing to pay postage) by Gallatin, with only his signature required for that privilege. It bears an October 7 [1812] postmark and retains its wax seals. Redemption forms for the June 30th notes and procedures for their return were included with this document. The circular specifies interest calculation methods and the period for reporting. Monies were to be held in these notes, reported in a weekly fashion. The only example encountered by us. This associative item is rarer than most of the War of 1812 notes themselves. With natural document folds, but in exceptional condition for this period. Ex: Kagin's, March 2019 sale, lot 3029; Stack's Ford Part VI sale, October 2006, lot 379; New York Sale No. 496 (Phillips, June 1, 1983, lot 30).

    Geneva, Switzerland, native Albert Gallatin (1761-1849) had a lengthy political career beginning in Pennsylvania, where he was a member of that state's constitutional convention (1789), and subsequently served a term in the State house of representatives. Although elected to the U.S. Senate, and actually sworn in, opponents declared that he had not been a U.S. citizen for a sufficient time period, and he was prevented from holding that office. However, he was elected to the U.S. House of Representatives for three successive terms from 1795 to 1801, during which time his focus on financial accountability led to the establishment of the House Ways and Means Committee. In 1801, President Jefferson appointed him to the position of Secretary of the Treasury. Jefferson held Gallatin in high esteem, writing of him to Madison in 1796: "He is sound in his principles, accurate in his calculations and indefatigable in his researches." Indeed, under Gallatin's tenure, the Treasury became solvent by the end of Jefferson's first term. He continued to serve as Secretary of the Treasury under Madison, but with bank failures, revenue lost from the trade embargoes, Congress' refusal to recharter the First Bank of the United States, and the war with Great Britain, the country's financial situation looked bleak. In 1813 Gallatin began to focus his energies on diplomacy as one of the American representatives during negotiations for the 1814 Treaty of Ghent which ended the War of 1812. His acceptance of that position led to his being required to resign as Secretary of the Treasury. Although not always appreciated during his lifetime, his portrait was selected for the first $500 Legal Tender note in 1862.
    From The Mike Coltrane Collection.

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    June, 2021
    24th-25th Thursday-Friday
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