Newburgh, NY: 1832. The inhabitants of the Hudson River town cite their growing prosperity in a request to the Legislature for an additional bank, with much specific information on their economic growth.
These many examples include: that the town employed 7 sloops and three steam boats to New York; that the amount of goods sold in the town amounted to $900,045; and that the value of property shipped out of Newburgh amounted to $1,200,000. Newburgh boasted numerous woollen (sic), cotton, paper, and flour manufactories as well as 3 iron foundries, and 13 brick yards. The Bank of Newburgh, founded in 1811, had capital of only $140,000, but the bank paid yearly dividends of 7 to 9%.
The petition also cites the recent rapid growth of surrounding towns, including Glenham, Matteawan, Walden, Cornwall and Cold Spring. The document dated January 1, 1832.
A few old folds, with some short splits, one reinforced with archival tape and not affecting text. 7 3/4 x 13" Very good condition. Item #20825