Civil War Bounty Fund 1863 RARE Proof Certificate

STOCKS AND BONDS. Printed Document, 1p on India paper, mounted on original cream card, 14.5” x 9.5”, Boston, July 1, 1863. Not numbered, $1,000, 5%. Decorative black border, with rare vignette of an eagle at top and vignettes of soldiers at corners. Stamped “SPECIMEN” in blue four times along bottom with six small punch holes. Imprinted “American Bank Note Co., Boston”, proof, uncirculated. Minor soiling, adhesive remnants at verso, else Fine.

This Rare Commonwealth of Massachusetts proof stock of the bounty fund evidences the bounty program where cash bonuses were paid to entice enlistees into the army. The system was much abused, particularly during the Civil War.

From 1861 to 1865 the federal government, along with states and localities, paid about $750,000,000 in recruitment bounties. Congress authorized a $100 bounty in July 1861 to men enlisting for three years. With the passage of the Enrollment Act on March 3, 1863, three-year enlistees received $300 and five-year recruits got $400, but these sums were divided up and paid in monthly installments with the soldiers’ regular compensation.

The states and localities offered higher bonuses. Since the federal draft applied only to congressional districts unable to meet their manpower quotas, wealthy districts would often pay more than $1,000 to volunteers from poorer districts to entice these men to enlist. The poorer districts were thus inequitably affected by the draft because their volunteers were not counted toward their quotas.

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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