Description: [ROBERT MORRIS] JOHN NICHOLSON. Robert Morris (1734–1806) was one of the Founding Fathers who signed the Declaration of Independence, Articles of Confederation, and Constitution. He was widely known as the “financier of the American Revolution” who served as the Superintendent of Finance from 1781 to 1784 and is considered to be a founder of the United States financial system. In February 1795, Morris formed a partnership with John Nicholson (1757-1800) to create the North American Land Company, which would develop and sell six million acres of land (valued at 50 cents per acre) in Pennsylvania, Virginia, North Carolina, South Carolina, Georgia, and Kentucky. The North American Land Company collapsed, plunging Morris into bankruptcy. On February 16, 1798, Morris was placed in Prune Street Debtors’ Prison where he remained until August 26, 1801 when he was released after the enactment of the first federal bankruptcy law. Unfortunately, Nicholson died while in prison on December 7, 1800. IMPORTANT DOCUMENT THAT BEGAN THE LEGAL PROCEEDINGS AGAINST JOHN NICHOLSON FOR HIS PARTNERSHIP WITH ROBERT MORRIS AND ROLE IN THE COLLAPSE OF THE NORTH AMERICAN LAND COMPANY Important document that began the legal proceedings against John Nicholson for his partnership with Robert Morris and role in the collapse of the North American Land Company. A legal document from the Notary Public for the Commonwealth of Pennsylvania censoring Nicholson for nonpayment, it reads in part: “W. Samuel Allen went to the...House of John Nicholson drawer of the Original promissory note where of the above is a true company in order to demand payment. But found the same shut up and no person there to answer or pay the said note, Wherefore I left notice of the nonpayment thereof at the Compting House of Robert Morris the Indorser.” The original promissory note was for $4,000 and was signed by Morris and Nicholson on June 10, 1795. Shortly thereafter, Nicholson would follow Morris to debtor's prison in late 1799. Contains one page, measures 12.5 by 7.5 inches, created in Philadelphia, Pennsylvania on June 13, 1798, in very good condition with light toning and minor tearing along the folds, and matted and framed to an overall size of 18 by 13.5 inches.
Price: 2812.5 USD
Location: Spartanburg, South Carolina
End Time: 2024-09-07T21:32:45.000Z
Shipping Cost: 0 USD
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Restocking Fee: No
Return shipping will be paid by: Buyer
All returns accepted: Returns Accepted
Item must be returned within: 30 Days
Refund will be given as: Money back or replacement (buyer's choice)
Country/Region of Manufacture: United States
Topic: Declaration of Independence
Material: Document
Theme: Political
Year: 1798
Country/Region: United States
