Lot 1308: PRESTAMO ORGANISATION
29 October 2016
Brussels, BelgiumLive Auction
Description: 1 May 1799 MADRID. Accion de 2500 Vales Reales. black. #160000. No 33317. In 1798 a loan of 400 million reales was created by royal decree, and this organisation accepted amounts of 2500 reales under the terms of the decree. The holders were chosen, as in a lottery, to receive repayment with interest. However, it does not give terms of interest or of drawings. It suggests a forced loan, which is quite realistic at a time when Spain was in serious difficulties. Pretty piece, with fine and delicate design of birds and flowers, and the arms of Spain.
Condition Report: EF