1832 Petition from Inhabitants of Newburgh, NY to Legislature requesting the establishment of an additional bank. NY Newburgh.

1832 Petition from Inhabitants of Newburgh, NY to Legislature requesting the establishment of an additional bank.

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

Price: $275.00

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