Description:

A 3% bond for the Panama Canal, signed by pioneering canal builder Ferdinand de Lesseps

Document Signed, "de Lesseps," 1p.12" x 8.75", Paris, October 1, 1884, a three percent obligation bond funding the construction of the Panama Canal. Scalloped left margin, typical endorsement stamps, one vertical crease, else very fine.

Spurred by the great profitability of the Suez Canal, French diplomat Ferdinand de Lesseps had little trouble raising funds in France for an even more ambitious project: a canal across the Isthmus of Panama linking the Atlantic and Pacific Oceans. Unlike the sea-level Suez, the project in Panama proved vastly more difficult due to dense jungles and torrential rains. The company charged with construction, which spent hundreds of millions of dollars and lost 22,000 workers to accidents and disease, went bankrupt in 1889. The United States purchased the project in 1904 and completed the project a decade later.

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January 28, 2016 10:30 AM EST
Wilton, CT, US

University Archives

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$50,000 + $5,000