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British Banking House Offers to Refloat Bond IssueFor Georgia Government Whichis Under Military Occupation 1867 DESCRIPTION: ALS 2pp 4to., London, November 8, 1867. A letter from the London financial firm Irving, Ebsworths & Holmes to Governor Charles Jenkins of Georgia, offering their services in cleaning up the defaulted bonds in punds sterling that the state issued, and financing that with a bond issue in US dollars. The sterling bond sale failed due to the 1865 financial crash in Europe caused by the failure of Overend Gurney & Co. bank, which drug down many otherwise healthy banks with it. The curious thing about this letter is that the Overend Gurney crisis occured in 1866, which poses the question of whether the sterling bond sale mentioned, whose coupons are in arrears, was taken out by the Confederate government of Georgia. Unfortunately, we do not have enough information to determine that. It is likely these bonds were issued in early 1866, which means that they were issued by a government under military occupation! One wonders what the interest rate on those bonds were, to induce people to buy them. A side note about Governor Jenkins- he was deposed by the Union Army less than three months after this letter for refusing to use state funds to pay for a racially integrated election, and was replaced by Union General Thomas Ruger. We wonder how that affected any new bonds! Postal Cover Information: Cover appears to have the "N" English postal rate, a 15mm x 12mm "arc" 5/PAID mark in red, an 11mm crossed circle mark similar to a bishop's mark, a red 22mm single circle LOMBARD-STREET/PAID/F.O./NO 16/67 mark, and a double-stamped 26mm red mail packet mark dated NOV 26. Paper is also embossed with the Irving, Ebsworths & Holmes seal ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ CONDITION: Usual folds, light soiling on cover. A small tear in text and some small splits on folds, else Good condition. ____________________________ Authenticity fully guaranteed for the life of the original purchaser by Alexander Autographs, Inc., member of the Professional Autograph Dealers Assoc., UACC Registered Dealer, Manuscript Society and Ephemera Society. CERTIFIED and INSURED at $4.95 FLAT RATE! BUY MORE AND SAVE ON SHIPPING!MULTIPLE DOMESTIC ORDERS SHIP TOGETHERAT SAME $4.95 FLAT RATE! INSURANCE NOW INCLUDED IN DOMESTIC FLAT RATE! We now include insurance in our domestic flat rate! While this means we will likely *lose* money on shipping in many cases with the dollar value of our average listing, we are providing insurance as yet another added value to our customers. International shipping is calculated according to destination. Buyers have the choice of International First Class or International Priority Mail. $1.99 Shipping and handling applies to international orders to cover the cost of the rigid mailers and archive quality acid-free sheet protectors (which are also used in domestic shipments) that are used in packaging. NOTE: International buyers choosing First Class instead of Priority assume ALL LIABILITY for their items. We are unable to track First Class International packages. By choosing First Class over Priority, you release Alexander Autographs from any and all liability concerning delivery of such items. We accept PayPal, personal checks, and money orders. You can also pay using your major credit card through PayPal. Items are packed in acid-free archival quality clear sheet protectors, and shipped in rigid document/photo mailers for maximum protection. PLEASE NOTE THAT ALL ITEMS REQUIRE A SIGNATURE UPON RECEIPT. ALL ITEMS THAT ARE RETURNED BY THE POST OFFICE AS UNCLAIMED/UNDELIVERABLE WILL INCUR ADDITIONAL POSTAGE FEES TO BE RE-SENT. Check our other items for sale on eBay! Click Here! Thanks for looking! Powered by eBay Turbo Lister The free listing tool. List your items fast and easy and manage your active items.
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