Lot 14
No. 1572, Dated : 30th December, 1839, Issuer : Unknown, Payee : M. L. Rutherford & Brother, Redeemer : The Right Honorable The Lords Commissioners of His Majesty's Treasury, London.
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Exhibited:
- Paper Money, Africa Literature:
- Coins, Monies & Stamps Medium:
- 394 Circa:
- Collectibles Notes:
- This 'Second of Exchange' was a second copy of a tri-part receipt for payment on 'Account of Public Service' that was redeemable at His Majesty's Treasury, London. Because of the possibility that a ship could be lost, it was the normal practice for the 'First of Exchange' (the first copy) and the 'Second of Exchange' (the second copy) of a transaction to be sent separately to London on different vessels, with only the first to arrive being honoured. However, notations on the exchanges indicates that they were often signed over (traded) to other parties within a colony as payment for other transactions and circulated to some extent like the privately issued promissory notes. Intriguingly in this instance the exchange made its way from the Cape of Good Hope to Van Diemen's Land where its value was signed over to Alexander Turner who in turn made it payable to Mathew Forster. The Cape of Good Hope was a port of call for ships replenishing stores en route to the colonies and this exchange would seem to indicate that notes were traded to and fro between Crown colonies before they were eventually redeemed in London.
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