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Lot 5
ASTOR BUYS SHARES IN THE SECOND BANK OF THE UNITED STATES. GIRARD, STEPHEN. 1750-1831. Document Signed ("Stephn Girard"), transferring 1000 shares of stock in the Bank of the United States to JOHN JACOB ASTOR,
25 October 2022, 10:00 EDT
New YorkSold for US$12,112.50 inc. premium
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ASTOR BUYS SHARES IN THE SECOND BANK OF THE UNITED STATES.
GIRARD, STEPHEN. 1750-1831. Document Signed ("Stephn Girard"), transferring 1000 shares of stock in the Bank of the United States to JOHN JACOB ASTOR, partially printed and accomplished in manuscript, 1 p, oblong 8vo (100 x 175 mm), Philadelphia, August 27, 1816, endorsed on the verso by JOHN JACOB ASTOR, light creasing and toning, framed to 445 x 794 mm.
Girard writes, "I hereby promise to transfer to John Jacob Astor or order one thousand shares of the Bank of the United States, on which the first installment has been paid, as soon as the books for that purpose shall be opened by the said Bank."
After the war of 1812, Astor was heavily involved in the effort to create a Second Bank of the United States, a private-public partnership and only the second chartered bank in the US. Like the original Bank of the United States (and unlike other banks throughout the country), the Second Bank was allowed to have branches in multiple states. It handled all fiscal transactions for the government, and was responsible for regulating public credit issued by private banks and establishing a sound national currency. The legislation creating the Second Bank was signed into law in April of 1816; here fellow financier Stephen Girard issues Astor a portion of his shares in the new enterprise. The Second Bank opened in January of 1817 with a 20 year charter that was not renewed, thanks to the anti-banking fervor of Andrew Jackson.
Girard writes, "I hereby promise to transfer to John Jacob Astor or order one thousand shares of the Bank of the United States, on which the first installment has been paid, as soon as the books for that purpose shall be opened by the said Bank."
After the war of 1812, Astor was heavily involved in the effort to create a Second Bank of the United States, a private-public partnership and only the second chartered bank in the US. Like the original Bank of the United States (and unlike other banks throughout the country), the Second Bank was allowed to have branches in multiple states. It handled all fiscal transactions for the government, and was responsible for regulating public credit issued by private banks and establishing a sound national currency. The legislation creating the Second Bank was signed into law in April of 1816; here fellow financier Stephen Girard issues Astor a portion of his shares in the new enterprise. The Second Bank opened in January of 1817 with a 20 year charter that was not renewed, thanks to the anti-banking fervor of Andrew Jackson.