1892 0 State of Louisiana Coupon Bond Signed by 2 Governors

Description

1892 0 State of Louisiana Coupon Bond Signed by 2 Governors
Offered for your consideration is a 0 bond issued by the state of Louisiana in 1892 to replace an earlier issue of Consolidated Bonds. The central vignette features a wonderful rendition of the “Old State Capitol” building in Baton Rouge, a lovely edifice that is still standing, though no longer serving as the capitol. The building sits seemingly alone on the top of a rise, with trees and a monument in the background. Above this scene, printed in large letters in an arc, is “
State of Louisiana
”, with two cherubs reading in the upper corners. Flanking the central vignette, presented on medallions, is the denomination and the serial numbers of the old and new bonds, while below is “
NEW CONSOLIDATED BOND
”. This is followed by a lengthy financial obligation which states (in part) that “
The State of Louisiana, by these presents, hereby acknowledges itself indebted to the Bearer hereof in the sum of FIVE HUNDRED DOLLARS which sum it promises to pay, in lawful money of the United States … on the first day of January A. D. one thousand nine hundred and fourteen, with interest at the rate of Four per cent. per annum …”
. It further states that “
… This bond is issued under authority of and in conformity with an Act of the General Assembly of the State of Louisiana, approved July 6
th
1892, being Act No. 65 of the session of 1892 …”
. It was signed and sealed “
… this First day of July A. D. One Thousand eight hundred and ninety two in conformity with the provisions of the aforesaid Act.
”. This is followed by the signatures of “
W W Heard
” in his capacity as “
Auditor of Public Accounts
”, “
T. S. Adams
” as “
Secretary of State
”, and “
Murphy J Foster
” as “
Governor of the State of Louisiana
”. These signatures are separated by a vignette depicting the seated female figure, representative of Justice. The denomination appears in large numerals, printed in the same orange ink as the medallions and decorative border which encloses all of the preceding elements (boldly printed at the bottom of the border is “
UNITED STATES OF AMERICA
”). The back of this piece features numerous geometric patterns, with two vignettes depicting classical designs. Also present is a lengthy recapitulation of the contents, with a representation of the state seal at the top. All of these elements are printed in the same orange ink that highlighted the front. This attractive bond was printed by the “
AMERICAN BANK NOTE COMPANY NEW YORK
”, as evidenced by their imprint on both sides. An interesting and historic bond, signed as it is by two governors (one sitting and one future). Would look great framed with portraits of the two governors or a photograph of the capitol.
Murphy James Foster
was born on his family’s sugar cane plantation on January 12, 1849 in Franklin, Louisiana, attended Washington University in Lexington, Virginia, and graduated from Cumberland University in Lebanon, Tennessee in 1870. He studied law at the University of Louisiana (later Tulane University) and was admitted to the bar in 1871. Foster served as state senator from 1880 through 1892, after which he was elected governor. He served in that position from May 10, 1892 through May 8, 1900, being re-elected in 1896 in a contentious election against John Newton Pharr. Following his term as governor, Foster was elected by the state legislature as a United States senator, serving from March 4, 1901 until March 4, 1913. He was thereafter appointed customs collector of the port of New Orleans by President Woodrow Wilson. Murphy J. Foster died on June 12, 1921 on the Dixie Plantation near Franklin, Louisiana and was buried in that city’s cemetery.
William Wright Heard
was born on April 28, 1853 at Shiloh, Union Parish, Louisiana. He was elected to the Louisiana House of Representatives in 1884, serving until 1888, after which he was elected to the Louisiana Senate through 1892. He was then elected as the state auditor for two consecutive four-year terms (this is no longer an elected position). Heard was elected the 32
nd
Governor of Louisiana, serving from May 8, 1900 through May 10, 1904, after which he became a banker in New Orleans. William Wright Heard died on May 31, 1926 in New Orleans, Louisiana, and was buried in the city’s Metairie Cemetery.
The presently offered document exhibits signs of significant period use, as expected of a document of this type. Toning/soiling is present across the entire surface, imparting to the paper a beige to light tan appearance. This toning/soiling is somewhat more pronounced on the back, due in part to the design, and to the fact that this would have been the outside when the document was folded for storage. Several small stains can also be found on the back, again due to that side being exposed when the piece was stored. Three horizontal folds are present, with wrinkling noted at the edges, both issues undoubtedly associated with the storage and regular removal of the piece (to clip and redeem the coupons). All of the coupons have been redeemed, leaving the right hand edge very irregular (this has been left to provide a border for matting if the bond was framed). The most obvious issues are the four punch cancellations (three large and one small) applied upon the bond’s redemption. Each of these cancellations reads “
PAID
”, with one large appearing at the center and one over each of the signatures, with a small one above Foster’s signature. Measuring approximately 10⅝ x 15 inches, this piece would look great framed in an office or den.
A charge of .95 will be added to the winning bid for postage and insurance.
If you have any questions concerning this item, please ask before purchasing.
Buy or Bid with Confidence – American Coins & Collectibles President Richie Self has worked 6 years as a paper money grader/authenticator. He has contributed to numerous reference books within the industry, as well as being a co-author of “The Comprehensive Catalog and History of Confederate Bonds, 2
nd
Edition” with Douglas B. Ball, Ph.D., Henry F. Simmons, M.D., Ph.D. and James R. Desabaye. Mr. Self is a life member of the American Numismatic Association, the Society of Paper Money Collectors, as well as numerous regional numismatic associations. He is an authorized submitter to NGC, PCGS, and PMG, a diamond founding member of Coin Dealers Helping Coin Dealers and a supporter of the Industry Council for Tangible Assets. American Coins and Collectibles can be found at many of the state and local coin shows.
American Coins & Collectibles
Shreveport, La.