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This historic Funding Act of 1790...



Item # 659321

August 7, 1790

GAZETTE OF THE UNITED STATES, New York, Aug. 7, 1790

* United States Funding Act of 1790
* President George Washington signs
* Also John Adams & Thomas Jefferson


Taking about a full page of text, including almost all of page 2 is: "An Act making Provision for the Debt of the United States" which is signed in type by John Adams, Thomas Jefferson, and George Washington.
This was the very historic Funding Act of 1790 which was passed on August 4, 1790 by the United States Congress to address the issue of funding of the domestic debt incurred by the individual colonies during the Revolutionary War and when they were in confederation before the organization of the federal government.
 By the Act the new federal government assumed the debts of each of the individual colonies on its own "full faith and credit".
This was the first significant fiscal measure passed by the new government to address the national debt. 
The balance of pg. 3 is mostly taken up with reports from Congress although one brief item notes: "A sermon, on a charitable occasion, will be preached by Dr. Witherspoon to-morrow, in the Old Presbyterian Church."
Four pages, wide, never-trimmed margins, scattered foxing, generally nice condition.

Note: This issue (along with 3 additional follow-up issues) sold in auction for $7500 in 2017.

Category: The 1600's and 1700's

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