Republic of Texas Kelsey Douglass
JimFitz
Posts: 17 ✭✭
Hello everyone! Wanted to show off an item I just picked up over the weekend - a Republic of Texas Consolidated Fund Certificate that was issued, and signed by Kelsey Douglass.
Much like many people look at the signers of colonial and continental notes, we do the same with Republic of Texas and warrants up through the Civil War period, as I have a few pieces that I simply bought due to the name listed on the warrant.
This is by no means a unique item, as the two dealers I have spoken with both confirmed they have seen others like this, but since I already have two sets of Douglass notes (issued and remainder) and a $1-$1-$2-$3 sheet, this is a nice addition.
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Jim Fitzgerald
1
Comments
Very fascinating! Didn't Kelsey Douglass issue his own notes up in Nacodoches?
Yes, that's why Jim bought this example.
I bought a group of about 20-30 of these Consolidated Fund $100s sometime during the 1990s but have sold most. None were payable to Kelsey Douglass, although the serial numbers were in the same general range, 600s-700s.
Very cool Fitz.
My records show that CF notes #650-660 and #1416-1417 were payable to Douglass. All were $100 denominations. I've owned #659, just one off from yours - not sure offhand if I still own it or if I sold it a while back.
As some may know, General Kelsey H. Douglass was a successful merchant in Nacogdoches during the Republic of Texas era. His notes were some of only a very few private issues that actually traded at par during this period (unlike the heavily discounted Republic issues) until his untimely death caused his widow to go broke redeeming them.
These Consolidated Fund notes were one of several series issued by Texas in an attempt to refinance the young Republic's debt. Douglass subscribed to at least $1300 worth, most likely through redemption of earlier issues at a discount.
The community of Douglass, Texas is named after him.
For reference, here are examples of Douglass' merchant issues, which Fitz mentions above:
... And here is an interesting Kelsey Douglass note - an issued and unredeemed $3 note.
A couple of endorsements on the reverse tell the story. First, the cancelled endorsement of the noted Galveston banking house of McKinney, Williams & Co.* attests to the fact that Douglass' notes traded in that commercial hub of the day.
The second notation on the reverse, dated July 28 1851, indicates that the holder of the note attempted to redeem it against Douglass' estate a full 11 years following his death. As the note remains uncancelled, this effort was apparently unsuccessful.
(*Note: Yes, the very same McKinney, Williams & Co. who founded The Commercial & Agricultural Bank of Texas)
Great Texas history and a beautiful set of notes.
Thanks for telling us a bit about them.
Great notes and history. Thank you
Nice find Jim.
I can shed a little light on Kelsey Douglass in relation to the Consolidated Fund. Douglass was issued at total of 22 CF notes, each in $100 denomination, on 4 separate occasions. Twelve notes were issued in the serial number range 649-660. 7 of these notes are in the Census, of which one is Jim's note.
A second group, numbers 775-777 and a third group, numbers 792-793 were issued. None of these 5 notes are known to me.
The fourth and final set consisted of 5 notes, serial numbers 1414-1418, of which 2 are in the Census. So 22 total notes issued with 9 known to survive today. Fortunately for collectors all 9 known notes are in collector hands with none in museums or the Rep of Texas Archives in Austin.
Looking through the Archives along with the Register of Consolidated Fund Notes and the surviving Registers of Audited Warrants that were issued by the Republic, the first series of notes Kelsey was issued ( #'s 649-660 ) corresponds directly with a group of pay vouchers issued to Douglass for his service in the House of Representatives in the 2nd Congress of the ROT. These receipts were given by the secretary of the House to the members who then took them to the Auditors office and were issued Audited warrants for their per diem pay as well as travel expenses from their homes to Houston where the 2nd Congress met. Sometime in the Spring of 1838 Kelsey Douglass and several other member of the House seemed to have walked over to the Consolidated Fund Commissioner's office and the Stock Commissioner Wm G. Cook issued their Consolidated Fund notes. They apparently went as a group because several members of the 2nd Congress were issued Consolidated Fund Notes in consecutive serial number order.
Jim your note, #658, falls within this issuance.
Oh by the way, HAA has a Kelsey Douglass Consolidated Fund Note for sale in auction #241626 Lot # 90379 on May 3rd I believe.
Serial #659
And NO it is not my note.
Wow, MikeinTyler makes an appearance! How goes it Compadre?! Hope all is well.
Great info - thanks for the post. The #659 in Heritage's May sale is indeed the note I used to own.
LOL Hey, I'm still alive! In fact I think I have posted maybe 2 or 3 times this century. How are things in the far North?
I got old and am now retired and I hope to start making some shows again soon. Btw, the CF census now stands at an amazing 604 notes. I never expected it to grow to that number and I eventually think now it may go a little over 700.
Thanks for the greeting Mike and hello to Dave & all the other old forum guys.
Mike