Certificaet n. 144.

Dutch document on paper (vertical fold), c. 25 x 19,5 cm. Very good copy.

Very rare 1.000 guilder Dutch certificate issued 30 March 1791, n. 114 (of 200). After the US Revolutionary War, the new nation had millions of domestic and foreign debts. Unable to pay them off, the plan arose to consolidate old debts into new securities (stocks) with public revenues specifically pledged to pay their interest. "This certificaet represented 1/200 interest in $ 130.000 face amount of United States "Liquidation Debt" securities, most likely 6 percent state or United States final settlement certificates. Dutch financiers and their American counterparts from 1785 to 1792 scrambled to buy up the deeply discounted 6 percent finals, then made additional representations (guaranteeing interest payments at a certain level for ten to fifteen years), marked the price up significantly, and then sold Certificaet interests to the Dutch and Flemish public. These Dutch investment trust buyers demonstrated the value and credibility of investing in US securities" (Goetzmann & Rouwenhorst - The origins of value (2005)). Blind stamp Archive du Chateau de Bouchout.