Description:

Benjamin Franklin
[Philadelphia, PA], March 2, 1787
Benjamin Franklin AES 3 Months Before Start of Constitutional Convention of 1787, PSA NM-MT8
AES
Benjamin Franklin (1706-1790). Autograph Endorsement Signed, "B Franklin Presidt", as the 6th president of Pennsylvania, 1p, 6.25" x 3", [Philadelphia, PA], March 2, 1787. Certified, graded NM-MT 8, and encapsulated by PSA/DNA to an overall size of 9.5" x 13". Light toning and scattered foxing. Minor edge wear. In fine condition and boldly signed. Accompanied by a Letter of Authenticity by PSA/DNA.

Endorsement reads, in full:

"Let a Commission issue as prayed for the directed to Matthew Clarkson, Matthew Mease, George Hughes, Peter Baynton and Richard Bache Esquires, or any four of three of them. March 2, 1787 B Franklin Presidt".

In September 1785, the Pennsylvania General Assembly passed "An Act for the Regulation of Bankruptcy", the first modern bankruptcy law enacted in Pennsylvania in 1785, and one of the first instances that the term "bankruptcy" is used in American law. The act provided for the discharge of debt and was to continue in force for seven years. Very few jurisdictions during the late-17th and early-18th century enacted legislation based on the English bankruptcy acts, in which creditors initiated proceedings against merchants. Franklin, in his capacity as president of Pennsylvania's Supreme Executive Council, played a role in overseeing the legal proceedings related to bankruptcy.

The gentlemen referred to in the here offered document formed a body called the Commissioners of Bankrupt. Matthew Clarkson (1733-1800) was the mayor of Philadelphia from 1792 to 1796. He was elected to the Confederation Congress in 1785, but did not attend. Matthew Mease (d.1787) was a naval officer and Philadelphia merchant. George Hughes (1743-1795) was a Philadelphia dry goods merchant and the first cashier of the Bank of Pennsylvania, which office he held until his death. Peter Baynton (1754-1821) was a Philadelphia merchant who also served as comptroller of the general post office and postmaster in Philadelphia from 1776 to 1782 and as treasurer of Pennsylvania in 1798. Richard Bache (1737-1811) was a businessman, the son-in-law of Benjamin Franklin, and Postmaster General of the U.S. Post Office from 1776 to 1782.

Roughly three months after signing this endorsement, Benjamin Franklin served as a delegate to the Philadelphia Convention, which was held from May 25 to September 17, 1787, in the old Pennsylvania State House in Philadelphia. As the only person to have signed the Declaration of Independence in 1776, Treaty of Alliance with France in 1778, Treaty of Paris in 1783, and U.S. Constitution in 1787, Franklin is considered one of the leading Founding Fathers of the United States. He has been called "the only president of the United States who was never president of the United States."

This lot comes with a Certificate from John Reznikoff, a premier authenticator for both major 3rd party authentication services, PSA and JSA (James Spence Authentications), as well as numerous auction houses.

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  • Provenance: LOA by PSA/DNA.
  • Dimensions: 9.5" x 13"
  • Medium: AES

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