Richardson, William A.

Treasury Department engraving signed as Secretary

Price: $50.00

Description:
(1821-1896) American judge and politician. Harvard 1843, Harvard LL.B. 1846, Georgetown Law professor 1879-1894. Asst. Treasury Secretary under predecessor George S. Boutwell, appointed Secretary 1873 by President Grant. Post-war economy expanded so quickly that commercial banks became nervous and began calling in their loans. In the summer of 1873, money supply tightened drastically causing the Panic of 1873. Richardson issued $26 million in greenbacks to meet the demand. Legality of his action was doubtful, but Congress did not interfere and the crisis was eased. In his last months in office Richardson became embroiled in the "Sanborn Incident." Richardson hired private citizen John D. Sanborn to collect $427,000 in unpaid taxes. Richardson agreed Sanborn could keep 1/2 of what he collected. Sanborn kept $213,000, of which $156,000 went to his “assistant", Richardson. Some of the "commission" found its way into Republican campaign funds. After leaving Treasury, appointed by Grant as Justice and Chief Justice of the US Court of Claims in 1874, served until his death. Rare signed 4 x 6 engraving of the front of the Treasury Department mounted on 7 x 7 ½ board signed as Secretary at lower right on the mount ca. 1873-74.

Condition: Very good, trimmed board, slight toning & foxing, lightly soiled
Type:Signed Engraving






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