North American Land Company ( Washington DC Land Speculation Scandal ) signed by Robert Morris (signer of the Declaration of Independence) - Pennsylvania 1797

Beautiful certificate from the North American Land Company issued in 1797. This historic document is hand signed by the Company's President, Robert Morris and Secretary, James Marshall and is over 210 years old. Pen cancelled. Finding stock certificates dated in the 1700's is extremely uncommon. The certificate was issued to George Simpson.

ROBERT MORRIS (1734 - 1806). Often called "The Financier of the American Revolution. Morris signed the Declaration of Independence, the Articles of Confederation and the U.S. Constitution. His downfall after the revolution came through land speculation. Morris first gained attention when he headed two of the Continental Congress' most important committees (1776-1778), one to obtain war materials, and the other to instruct overseas diplomats. He was one of the best known merchants in the colonies, and thus his business experience led to his appointment as superintendent of finance in 1781.

Morris' shrewdness and personal reputation were enough to secure the funds required for the colonies to successfully prosecute the war against Britain. After the Revolutionary War, a grateful government gave Morris large tracts of land, which Morris transformed into the North American Land Company.

Morris set the company up with the aid of John Nicholson and James Greenleaf. Its land holdings were scattered over America with 4,000,000 acres between Georgia, the Carolinas, New York, and the states in between. The North American Land Company failed in 1798, because revenues from installment sales and share sales did not come in quickly enough to meet the loan and tax deadlines, causing Morris to end up in debtors' prison from 1798-1801. George Washington, his old friend, visited with Morris for dinner while he was in prison.