0 City of Newark (New Jersey) Scrip Signed by Mayor Theodore Runyon

Description

0 City of Newark (New Jersey) Scrip Signed by Mayor Theodore Runyon
Offered for your consideration is a late-war dated document acknowledging the indebtedness of a New Jersey town, signed at the conclusion by the mayor. Headlined “
CITY OF NEWARK
” and valued at “
0
”, this document is actually a “
ONE YEAR SCRIP
” issued on “
March 15
th
, 1865
”. The body of the document indicates that “
This acknowledges an indebtedness of “THE MAYOR AND COMMON COUNCIL OF THE CITY OF NEWARK,” unto
Edw.d A Hawes
(?)
or bearer, of the sum of TWO HUNDRED DOLLARS, with interest at the rate of Seven per cent. per annum, to be liquidated Twelve months after date, when presented in sums of not less than Five Hundred Dollars, in Bonds running not less than ten nor more than thirty years, according to a resolution of the Common Council, passed February 27th, 1865, authorizing the issue of said Scrip.
”. It is signed at the conclusion by “
Theodore Runyon
” as “
Mayor
” and “
E M Leonard
” as “
City Clerk
”, and is “
Countersigned
” at the left by “
J B Ward
” (?) as “
Chairman
Vol. Aid Com.
”. All of the aforementioned material is enclosed in a decorative border. The back, in common with many documents of the period, was blank, though a pencil computation can be found at the lower left. This piece was undoubtedly issued to aid in the repayment of the various debts incurred by the city during the war. It is interesting that the fractional notes issued by the city during the war were issued under the auspices of the Mayor and Common Council, so this may be for use in redemption of some of those notes. Worthy of research by a local historian.
Theodore Runyon
was born on October 29, 1822 in Somerville, New Jersey. He graduated from Yale University, with an additional source indicating that he was awarded degree from Rutgers College and Wesleyan University. He was admitted to the New Jersey bar in 1846, and subsequently opened a law practice in Newark. Runyon served as the city attorney and city counsel for Newark, was appointed as a member of a commission to revise and codify the militia laws of New Jersey, and was commissioned as a brigadier general of militia in 1857. With the outbreak of the Civil War, Runyon was placed in command of the Fourth Division of the Army of Northeastern Virginia, a unit composed of 90-day New Jersey volunteer regiments and newly recruited 3-year regiments. The division was held in reserve during the First Battle of Bull Run, with Runyon apparently in command, though it seems he received no formal commission and is not listed as a Federal officer. On February 25, 1862, Runyon was appointed a brevet major general in the New Jersey state militia, though he appears to have seen no further action. From 1864 through 1866, Runyon served as the mayor of Newark, New Jersey, after which he was appointed major general of the New Jersey National Guard, remaining in that position until 1873. Concurrently, he served as the first president of the Manufacturers’ National Bank of Newark. In 1873, Runyon was appointed chancellor of New Jersey, serving two 7-year terms, after which he returned to the practice of law. In 1893 he was appointed envoy, and subsequently ambassador, to Germany. Theodore Runyon died in Germany on January 27, 1896, and was subsequently buried in Mount Pleasant Cemetery in Newark, New Jersey.
The presently offered specimen exhibits signs of light, period use, followed by many years of reasonably good storage. Very light toning is noted across the entire surface, imparting to the paper an off-white to beige hue. This toning is slightly darker at the edges and along the storage folds, with additional areas scattered throughout the document. Several multi-directional storage folds are noted, none of which have significantly affected the integrity of the paper (areas of associated wrinkling are noted as well). The contrast is average for a document of this type, though the signature of the city clerk is somewhat light (this is due more to the type and amount of ink used, rather than fading). Minor ink corrosion can be seen at the manuscript additions, with no paper loss discernable at this time. A relatively large “X” punch cancellation can be found near the conclusion of Runyon’s signature. This interesting piece measures approximately 4⅛ x 8⅜ inches. A great piece to frame with a portrait of Runyon and some of the fractional notes issued by the same authority.
A .95 charge will be added to the winning bid for postage and insurance.
A .00 charge will be added to any item picked up in person at our physical location.
If you have any questions regarding this item, please ask before purchasing.
Buy or Bid with Confidence – American Coins & Collectibles President Richie Self has worked 6 years as a paper money grader/authenticator. He has contributed to numerous reference books within the industry, as well as being a co-author of “The Comprehensive Catalog and History of Confederate Bonds, 2
nd
Edition” with Douglas B. Ball, Ph.D., Henry F. Simmons, M.D., Ph.D. and James R. Desabaye. Mr. Self is a life member of the American Numismatic Association, the Society of Paper Money Collectors, as well as numerous regional numismatic associations. He is an authorized submitter to NGC, PCGS, and PMG, a diamond founding member of Coin Dealers Helping Coin Dealers and a supporter of the Industry Council for Tangible Assets. American Coins and Collectibles can be found at many of the state and local coin shows.
American Coins and Collectibles
Shreveport, LA