| Description |
Rare American Defense of Paper Money Hildreth's Apology for the $1 NoteBoston: Whipple & Damrell, 1840. 12mo, original plain muslin-backed tan paper boards. vi, (7)-209, (1) pages. Foxed. Very good. Rare and important. Richard Hildreth, best-remembered today for his multi-volume History of the United States, here advocates the "system of open competition in banking," and the issue of $1.00 notes. In the third part of the work, entitled "An Apology for One-Dollar Notes," the author lauds the "convenience afforded by the use of small notes" over gold ("that most expensive of circulating mediums") and silver ("A silver dollar is a cumbrous coin, and ten silver dollars in bulk and weight are more than any one desires to carry about him"). An important view that contrasted with that of many, including William Gouge. Estimate $500. Ex: Eric P. Newman Numismatic Education Society.
Heritage Auctions 11/2018 (Newman XI), lot15305 (realized $144).
Heritage link: http://www.ha.com/c/item.zx?saleNo=1283&lotIdNo=11318 |
