Lot 327
- 327
Hamilton, Alexander, as Treasurer of the United States
Estimate
4,000 - 6,000 USD
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Description
- ink and paper
Treasury Department, January 6, 1791. Sir, I Have the Honor to transmit to you a Report to the House of Representatives relative to Appropriations of Money, for certain Purposes therein mentioned. [Philadelphia: Francis Childs and John Swaine, 1791]
Folio (12 x 7 1/2 in.; 302 x 190 mm). Browned and foxed, repairs to right margin of A1 and to top margin of C2, foliated by hand nos. 50–55. Modern quarter morocco over marbled boards, leather lettering piece.
Folio (12 x 7 1/2 in.; 302 x 190 mm). Browned and foxed, repairs to right margin of A1 and to top margin of C2, foliated by hand nos. 50–55. Modern quarter morocco over marbled boards, leather lettering piece.
Literature
Evans 23925; Syrett, Papers of Alexander Hamilton 7:416–418
Condition
Folio (12 x 7 1/2 in.; 302 x 190 mm). Browned and foxed, repairs to right margin of A1 and to top margin of C2, foliated by hand nos. 50–55. Modern quarter morocco over marbled boards, leather lettering piece.
In response to your inquiry, we are pleased to provide you with a general report of the condition of the property described above. Since we are not professional conservators or restorers, we urge you to consult with a restorer or conservator of your choice who will be better able to provide a detailed, professional report. Prospective buyers should inspect each lot to satisfy themselves as to condition and must understand that any statement made by Sotheby's is merely a subjective qualified opinion.
NOTWITHSTANDING THIS REPORT OR ANY DISCUSSIONS CONCERNING CONDITION OF A LOT, ALL LOTS ARE OFFERED AND SOLD "AS IS" IN ACCORDANCE WITH THE CONDITIONS OF SALE PRINTED IN THE CATALOGUE.
In response to your inquiry, we are pleased to provide you with a general report of the condition of the property described above. Since we are not professional conservators or restorers, we urge you to consult with a restorer or conservator of your choice who will be better able to provide a detailed, professional report. Prospective buyers should inspect each lot to satisfy themselves as to condition and must understand that any statement made by Sotheby's is merely a subjective qualified opinion.
NOTWITHSTANDING THIS REPORT OR ANY DISCUSSIONS CONCERNING CONDITION OF A LOT, ALL LOTS ARE OFFERED AND SOLD "AS IS" IN ACCORDANCE WITH THE CONDITIONS OF SALE PRINTED IN THE CATALOGUE.
Catalogue Note
The first federal budget. Scarce, no copy has appeared at auction in the past 30 years. Evans reports four copies and OCLC two additional copies in American institutions. In 1789 and 1790, the Treasury ran public business without submitting a formal budget to Congress. As evidenced by this budget, Hamilton's Treasury Department was by far the largest with over 70 employees compared to Jefferson's and Knox's paltry six employees each. This generated concerns that Hamilton was building a large bureaucracy as his personal power base. But, as first treasury secretary, Hamilton "had to devise rudimentary systems for bookeeping, checking, and auditing, many of which endured for generations" (Chernow, Alexander Hamilton, p. 291). The total expenditure for the government's operation was $740,232.14. Hamilton's salary was $3,500, less than what he would have earned as one of New York City's top lawyers, and President Washington's salary was $25,000, or slightly more than three percent of the total budget.