0 Republic of Texas Bond Signed by Charles DeMorse and Joseph C. Eldredge

Description

0 Republic of Texas Bond Signed by Charles DeMorse and Joseph Eldredge
Offered for your consideration is a 0 coupon bond, issued in 1840, signed by Charles DeMorse and Joseph C. Eldredge, both prominent men in the early history of Texas. The central vignette depicts a classically draped figure of Hermes / Mercury reclining against a rock, while a sailor of the period stands above him, pointing to several sailing ships in the background (Hermes was the ancient Greek god of trade, wealth, luck, and travel, with Mercury being his Roman equivalent). The sailor is probably asking for the god’s protection over the ships, and a successful conclusion to their journey (presumably commercial). Above this is printed in bold letters “
Republic of Texas
” and “
Certificate of Stock in the ten per cent consolidated fund
”, the latter in somewhat smaller letters. Flanking the central scene is a statement indicating that the bond was “
CREATED BY ACT OF FEB
.
5
TH
1840
”, as well as the denomination on two decorative devices. The body of the document states (in part) that “…
there is due from the Republic of Texas to
Jos.
C. Eldredge
Five Hundred Dollars, Payable to order with interest at the rate of ten per cent per annum, payable
…
in Gold or Silver, on presentation of this Certificate
…”. It further states that “…
The principal redeemable at the pleasure of the Government after the 30
th
day of June 184
5
…”. The certificate was issued at the “
Treasury Department
” in “
Austin
” on “
June 15
th
18
40
” and is signed at the conclusion by “
J W Simmons
” as “
COMPTROLLER
” and “
Charles DeMorse
” as “
Stock Commr
”. The left end of the piece is features another vignette, this one depicting a classically draped woman, her arm around the neck of a large, bald eagle, presented in a circle, with decorative elements at the top and bottom. The denomination appears in each corner of the document, as well as in a large rectangle at the right end. A lone star can be found at the bottom center. A line border encloses all of the aforementioned material, neatly separating it from the 10 interest payment coupons. Each of these coupons bears a short obligation recapitulates the principal documents information, as well as the date of redemption, amount, and a signature of “
Charles DeMorse
”. The back, in common with many documents of the era, was blank, though it now bears a manuscript endorsement which reads “
Without recourse
”, as well as a signature of “
Jos. C. Eldredge
”. The bond bears the imprints of the “
Southern Bank Note Co.
” and “
Endicott & Clark, New Orleans
” at the bottom of the principal certificate. An interesting and historic document, great for display with a collection of Republic of Texas currency issues.
James Wright Simmons
was born in Charleston, South Carolina sometime around 1790, though the exact date appears to be unknown. He was educated at Harvard University, traveled around Europe for a while, and upon his return, served as coeditor of the Southern Literary Gazette in Charleston from September, 1828 through March, 1829. By 1839, Simmons had relocated to Texas, since that year he was appointed comptroller of the Republic of Texas. He remained in that position until the next year, at which time he was appointed treasurer, serving until November, 1841, when he left for the United States. In August, 1846, Simmons received a letter of recommendation from Sam Houston for the position of naval storekeeper in Galveston, though it appears that two years later, Houston sent another recommending his removal. During his life, Simmons contributed to many newspapers and magazines, and published at least three volumes of poetry. James Wright Simmons died sometime in 1858, though the exact date is unlisted.
Charles DeMorse
(born Charles Denny Morse) was born in Leicester, Massachusetts, on January 31, 1816. He attended schools in New Haven, Connecticut and New York City, and later pursued the study of law. In 1835, Morse joined Major Edwin Morehouse’s volunteers to aid Texas in its fight for independence. While in route, he was detained by the British in Nassau, Bahamas, though through an error his name was listed as Charles DeMorse (he accepted the change and it was later approved by the Sixth Texas Congress). Arriving in Texas, DeMorse was commissioned into the Texas Navy, though he resigned in July, 1836 to accept a commission as a major in the Texas Army. When the army was disbanded in 1837, DeMorse entered the practice of law in Matagorda. He was appointed stock commissioner under President Mirabeau Lamar, charged with refunding the public debt, at the same time serving as a reporter for the Texas House of Representatives. In 1842 he served as the first mayor of Clarksville and founded the Clarksville Northern Standard, maintaining an association with that paper until his death. In 1862, DeMorse organized the 29
th
Texas Cavalry and was elected its colonel, serving primarily in Arkansas and the Indian Territory. His regiment saw action at the battle of Elk Creek / Honey Springs in 1863, and he was the commanding officer of the force engaged at Poison Springs, near Camden, Arkansas. After the close of the war, DeMorse tried to convince the people of Texas to accept the result, and worked hard to eliminate the Radical Republican control during Reconstruction. He was active in politics following the war, helped organize the Texas Veterans Association, and in 1874, was named one of the directors of the Agricultural and Mechanical College of Texas (now Texas A & M). He was one of the most influential framers of the Constitution of 1876. Charles DeMorse died on October 25, 1887 in Clarksville, Texas, and was subsequently buried in that city’s Clarksville Cemetery.
Joseph Concklin Eldredge
was born on May 8, 1818 in New York City, though at some time he moved to Connecticut. He moved to Texas in 1837, living there for approximately ten years. During that period, Eldredge served as an aide-de-camp to Sam Houston, was the head of a peace party that entered Indian country in 1843, and as a commissioner. On February 2, 1847, Eldredge was appointed assistant paymaster in the United States Navy, with Houston presenting him with a sword. He participated in Commodore Oliver Perry’s expedition to open Japan to world commerce, and in the subsequent laying of the Atlantic telegraph cable. He remained in the United States Navy until his retirement in 1878, including through the turbulent years of the Civil War. Joseph C. Eldredge died in Brooklyn, New York on August 14, 1881 and was buried in that city’s Green-Wood Cemetery.
The presently offered document exhibits signs of expected period use, followed by many years of reasonably good storage. Toning is noted across the entire surface, imparting a beige to light tan appearance to the paper. This toning is slightly darker at the edges and along the storage folds, with several additional spots scattered throughout the design. These spots are easier to detect on the blank back and are possibly transfer from another document or human contamination while in storage (these do not seriously impact the legibility of the printed or manuscript additions). The aforementioned storage folds have adversely affected the integrity of the paper, with separations noted at the top and bottom edges (these could easily be strengthened with archival tape if desired). Additionally, there are several cut cancellations present, the most prominent being visible to the right of the vignette. The contrast is average for this type of document, though the Simmons signature appears to be slightly faded. Ink corrosion can be found at the manuscript additions, with minor associated paper loss in a few of the letters. The edges are irregular, with the top being wrinkled and the right being quite ragged. Measuring 7¾ x 10 inches, this piece would make a great addition to any Texas bond or currency collection (it would also add to a Civil War autograph collection due to DeMorse’s service).
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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 and Collectibles
Shreveport, LA