Connecticut Bond for Loan from Hartford Merchant to Fund State During French and Indian War

This bond commits the State of Connecticut to repay a loan of £100 from Hartford merchant John Ledyard three years later at 6 percent interest "for the Use and Service of the Governor and Company of the Colony of Connecticut." However, the striking of Treasurer Joseph Talcott's signature and addition of "Not negociated" suggests that the loan fell through.

[CONNECTICUT.] Joseph Talcott, Document Signed, Receipt to John Ledyard, May 20, 1758. 1 p., 6" x 6.75". Expected folds; minor loss at one corner, not affecting text; very good.

Complete Transcript
£100
No 38Colony of Connecticut 20 May 1758
Received of John Ledyard Esqr the Sum of One hundred Pounds lawful Money, for the Use and Service of the Governor and Company of the Colony of Connecticut and in Behalf of said Colony, I do hereby promise and Oblige my self and Successors in the Office of Treasurer to repay the said John Ledyard or Order the 20 Day of May 1761 the aforesaid Sum of One hundred Pounds in lawful Money with Interest Annually at the Rate of Six ⅌ cent ⅌ Annum.
Not negociated
Witness my Hand
Joseph Talcott Treasurer

Historical Background
Colonial Connecticut primarily raised funds by a combination of taxes on property, polls, and faculties (depending on the taxpayer's profession or business). The governor of colonial Connecticut in 1758 was Thomas Fitch IV (ca. 1699-1774), who served as governor from 1754 to 1766. The first years of his administration were marked by the French and Indian War (1754-1763), and Connecticut gave large amounts of money, manpower, and supplies to the conflict, sometimes more than it could afford. This experience likely led to loans such as the failed one this bond documents.

According to one tradition, in 1755 a British surgeon, Dr. Richard Shuckburgh, gave Col. Thomas Fitch V, the governor's son, a song as a joke. The lyrics made fun of Col. Fitch's troops: "Yankee Doodle went to town, a-riding on a pony...," making Col. Fitch the original "Yankee Doodle." Two decades later, American troops in the Revolutionary War adopted the song as a favorite marching song. It became the state song of Connecticut in 1978.

Joseph Talcott (1701-1780) was born in Hartford, Connecticut, as the son of colonial Governor Joseph Talcott (1669-1741). The younger Joseph Talcott married Esther Pratt (1703-1775) in 1727, and they had at least five children. He served as Treasurer of the Colony of Connecticut from 1756 to 1769. He served as a deacon at First Church in Hartford from 1748 until his death.

John Ledyard (1700-1771) was born in England and migrated to Connecticut around 1717. There in 1727, he married Deborah Youngs (1704-1747), with whom he had ten children. After her death, he married Mary Austin, with whom he had five more children. The Youngs and Austin families were well-established and prosperous in Hartford, giving Ledyard access to the upper levels of colonial society, where he became a prominent merchant. He was the grandfather of famed explorer John Ledyard (1751-1789).

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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