£150 - £200
U.S.A.: Southern Inland Navigation & Improvement Company, First Mortgage Land Grant Convertible Construction bond, $1000 or £200, 1871, #66, large format piece with vignette of shipping on river, blue and black, with coupons. The company was set up around 1871 by Lt Governor William Gleason to acquire free land from the Internal Improvement Fund. The intention was to drain the swamplands and reclaim the land for farming and development. The scheme came to nothing because the transfer of lands by the Fund was deemed to be illegal and the subject of a lengthy court case. Remainder of tape on reverse from former mounting and framing but otherwise VF.
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