James Alexander
Trenton, NJ, March 20, 1805
New Jersey Canal Booster Signs Bond for Subscription Work
ADS

James Alexander, Autograph Document Signed, Bond to New Jersey Navigation Company, March 20, 1805, n.p. [New Jersey?]. 1 p., 8" x 13". Expected folds; general toning; light staining from wax seals.

This 1805 performance bond, signed by James Alexander and his surety Jonathan Rhea (1758-1815; president of the Trenton Banking Company), guaranteed that Alexander would transfer to the New Jersey Navigation Company all the subscription payments he received from investors to whom he sold stock in the company.

In 1804, wealthy New Jersey Federalists obtained a charter from the New Jersey legislature for the New Jersey Navigation Company to connect the Delaware River to Raritan Bay on the Atlantic Ocean by a canal. The proposed project would use Assunpink Creek and Millstone River to develop a route across northern New Jersey. The estimated cost of $100,000 and challenges in using natural waterways in navigation quickly caused the project to collapse. Another project in 1824 to connect the Pennsylvania coal fields to eastern urban markets met a similar fate. A third project in the 1830s succeeded in building a canal, but within a few decades, railroads largely displaced canals as the primary mode of transportation for passengers and freight.

Complete Transcript
Know all Men by these presents that we James Alexander & Jonathan Rhea are held and firmly bound unto the New Jersey Navigation Company their Successors and Assigns in the Sum of Two Thousand Dollars, to be paid to the New Jersey Navigation Company their Successors & Assigns To which payment well and truely to be made we bind ourselves our Heirs Executors and Administrators firmly by these presents Seal'd with our Seals and dated this Twentieth day of March in the year of our Lord one thousand Eight Hundred and five 1805.
Whereas the said new Jersey Navigation Company duly appointed the Said James Alexander As one of the persons to Open books of Subscriptions for Shares in the Stock of the Said Company and to receive the first payment of two Dollars on each Share therein Subscribed Now the conditions of the Above Obligation is that if the said James Alexander his Heirs, Executors or Administrators or Either of them Shall and do well and truley pay or cause to be paid to the Said Company their Agent Assigns or Attorney all the Moneys he Shall so receive on Such Subscriptions, then the Above Obligation to be Void otherwise to be and remain in full Effect.
James Alexander
J. Rhea
Sealed & Deliver'd in the presents of
Jacob Herbert

This item comes with a Certificate from John Reznikoff, a premier authenticator for both major 3rd party authentication services, PSA and JSA (James Spence Authentications), as well as numerous auction houses.

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  • Dimensions: 8" x 13"
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