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Lot 1120: EMPRUNT DE 12 MILLIONS DE FRANCS
29 October 2016
Brussels, BelgiumLive Auction
Description: 1 June 1811 PARIS. Billet de F1000. Serie 7G. black. No 714. Some edge-splits, partly repaired, at the left border. The loan was raised in 1811 by the Kingdom of Saxony, in Paris through Perregaux, Lafitte & Cie, for 12 million francs, in 12.000 bonds of 1000F each. It was guaranteed by a charge on and revenues from the half ownership of the salt-mines of Wielicska (Duchy of Warsaw), owned by the Napoleonic Kingdom of Saxony, which revenues would pay interest and capital repayments. The interest rate was 6% per annum. In addition there was an annual lottery for the amount of 1 1/2% of the value of the loan, with prizes of 1000F, and one big prize of 50.000F. The loan was to be entirely repaid by 1824. The ruler of the Kingdom of Saxony, issuer of this loan, was Friedrich August Joseph Maria Anton Johann Nepomuk Aloys Xaver (1750-1827). He ruled first as Elector of Saxony, then, from 1806 as King of Saxony 1806-1827. From 1807 to 1815, he reigned as duc de Varsovie (Fryderyk August I) at the wish of Napoleon. He was one of the most faithful allies of the French emperor during his wars against Prussia and Russia. The bond has a decorative border, with the crown of Saxony and cornucopias. Interest stamps on the back show payments until the 1st semester of 1813. Only piece known to us thus rarity 12. Among the earliest Polish scripophily ever discovered.
Condition Report: VF