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1775 Paul Revere Engraved “King Philip” Bond to Captain “Joseph Lee” Boston, a Tea Party Participant & Privateer who Signed this First American Revolutionary War Massachusetts Bond Listed in “The Price of Liberty” by Anderson as “MA-1”

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June 22, 1775-Dated, Partially-Printed Document Signed, “Joseph Lee” authentic First Interest Bearing Financial Bond of the American Revolutionary War, a Uniface Copper-Plate Engraved and Printed Bond by the noted Patriot and Silversmith, Paul Revere, Jr., Anderson MA-1, Extremely Fine.

June 22, 1775-Dated, Partially-Printed Document Signed, “Joseph Lee” endorsed on the reverse, an authentic First Interest Bearing financial Bond of the American Revolutionary War. Issued by the Colony of Massachusetts Bay, this Copper-Plate Engraved Bond was Printed by the noted Patriot and Silversmith, Paul Revere, Jr. It contains the vignette of Native American Indian Chief “King Philip” as displayed within the left Indent Border design. This Treasury Loan Certificate being for 5 at 6% Interest, it is Anderson reference “The Price of Liberty” listed as type MA-1, he First Massachusetts Revolutionary War Bond issue.

CAPTAIN JOSEPH LEE (1744-1831) was a member of the Sons of Liberty and an active “Boston Tea Party” participant. Lee was a Revolutionary War American Patriot, by trade a Naval Architect and Shipbuilder. He was a Sea Captain, Harvard graduate, a prosperous merchant located on the historic Long Wharf in Boston. In Salem, Massachusetts, during the Revolutionary War, Lee built a fleet of Privateer Ships. Lee was the first to receive an official Massachusetts-Bay Council Privateer Commission from Beverly, Mass., and he achieved the rank of Captain in the Revolutionary War. Member of the Massachusetts Lodge of Freemasons, Director of various banks and insurance companies, he designed (for free) the “Essex Bridge,” and donated $20,000 to the Massachusetts General Hospital in 1830.

Rated as Rarity-6 (Very Rare 21-30 known) in the Anderson reference. This large format Engraved Printed Document is Signed, “Henry Gardner” (as Treasurer) with cross cancel of his name, measuring about 7.5” x 7.0” having exceptional centering within four fully wide margins. Silversmith Paul Revere’s hand-engraved workmanship is impressively displayed.

A highly important piece of American Revolutionary War finance, as being the very first type of interest bearing Bond issued to finance the War with Britain which began on April 19th, 1775 at Lexington & Concord. This historic American Bond was printed off a Copper Plate which Paul Revere was commissioned to engrave for the Colony of the Massachusetts Bay. Paul Revere’s payment for engraving this Copper-Plate is recorded as being 50 Pounds. This current example is among the finest quality known to us, with most examples locked away in museum and institutional collections, unavailable to collectors forever.

Impressively well printed rich black, this Bond is from a very early plate striking. The left indented margin has a vignette of the famous Native American Indian Chief “King Philip” sharply presented and very clear within the left border design. All features are clear including his face, head, hand holding a Liberty Pole with Cap, and flowing robes down to his moccasins, all in detail. Located above the Indian King’s head is an engraved vignette of the Massachusetts “Sacred Codfish.” Surrounding flourishes exhibit a classic Paul Revere style and character. The Patriotic, highly Political wording under the King Philip engraved vignette reads: “(Am)erican Paper.”, which is printed directly within the left side “Indent” border design, meant as a direct, deliberate “American” challenge to the British. The engraved letters “CMB” in fancy Script displayed as a monogram represents “Colony Massachusetts Bay”.

This Bond is completely original, very clean and attractive, problem-free but for a few scattered tiny fold pinholes. It is well printed, with sharp clear details on high quality period laid paper. Four signatures appear on the face of this note. Signed by, “Henry Gardner” as Receiver-General, with cancel in red; Countersigned by S(amuel) Dexter, M(oses) Gunn, and Lem(ue)l. Kollock in blue and red color ink at left. Also, Signed on the blank verso by the Patriot, “Joseph Lee”. Docket on the verso reads: "William Blaekler / Consolid 344.15 / Decer. 1 1781" (when redeemed with its 6% Interest payment made).

This exceptional Paul Revere engraved “King Philip” 6% Bond is considered a Key highlight for collectors of Paul Revere’s Engravings, Early American Fiscal History, and Revolutionary War specialists alike. Issued to Long Wharf Boston merchant, American Privateer, and a Son of Liberty direct Participant in the Boston Tea Party, the conne tion to (Capt.) Joseph Lee (1744-1831) is a remarkable historic bonus. This Bond reads, in part:

“... the Sum of fifty Pounds -- lawfull money for the Use and Service of the Colony of the Massachusetts Bay... promise... to repay... the first Day of June one Thousand Seven hundred & Seventy Seven... in Spanish Mill'd Dollars, at Six Shillings each, or in the Several Species of coined Silver & Gold... with Interest to be paid annually at Six per Cent."

The first Revolutionary Massachusetts Government type Loan Certificate, engraved by Paul Revere, issued by the to help finance the American Revolution, issued as a result of a 100,000 authorized by the Mass. Provincial Congress on May 3, 1775, only weeks following the outbreak of hostilities at the Battles of Lexington and Concord, the first shots of the American Revolution.

Joseph Lee was a successful Boston-based Shipmaster, ship builder, and merchant, who traded in the Caribbean and with Spain. On the night of December 16, 1773, Lee was one of several participants who helped dump over 300 chests of British Tea from the English ships Dartmouth, Beaver, and Eleanor, into Boston Harbor during the Boston Tea Party. Joseph Lee was an active participant in the American Revolution, he built Privateer Ships for the earliest formation of the fledgling Continental Navy, and attained the rank of Captain. From Jan. 1922 “THE COLONIAL SOCIETY OF MASSACHUSETTS”... “No privateer sailing from Beverly received a commission from the Massachusetts Council prior to September 4, 1776, but several were so commissioned in which Beverly capital was interested. The earliest of these was the Ship “Revenge,” itself being owned by Joseph Lee of Beverly (MA), and Miles Greenwood of Salem, a commissioned Privateer on May 14, 1776. The Revenge was a Sloop of 90 tons burden, armed with twelve four-pounders and six-pounders, carrying a crew of 60 men. She was commanded in rapid succession by Joseph White, Benjamin Warren, Edward Gibaut, and Benjamin Dean, all being of Salem. Her first two prizes, the British ships Anna Maria, and Polly, both being recorder among the first cases tried in our (Massachusetts) prize courts.”

Joseph Lee’s manuscript receipt book, dating from Sept. 18th, 1780, to his death in 1831, is housed in the “Colonial North America Collection at Harvard University.” The first listed entry reading: “Beverly (MA) Septr. 18th, 1780. Recd. of Joseph Lee the Sum of two thousand & thirty Eight pound 11 3/4, in full for Outfitts (sic) on the Ship Franklin 4th & 5th Cruises ---- As my Grant.” (his share of bounty as Privateer) and “Beverly, Febr. 21, 1781. Recd. of Joseph Lee the Sum of Two Thousand Seven Hundred & Seven pounds 14/5 -- on a/c (account) Ship Pilgrim 5th Criuse --- Signed Wm. Cleveland; another Febr. 25th on account for the Ship Cyrus, etc. Lee was an important naval Privateer, his ships supporting the fledgeling, virtually non-existent, Continental Navy.
CAPTAIN JOSEPH LEE (1744-1831). Papers have been assembled and are part of the Lee Family Papers, 1680-1917, at The Phillips Library at the Peabody Essex Museum, 132 Essex Street Salem, MA. In an online document, the Museum offers this following biographical sketch:

“Joseph Lee was born in Salem, Massachusetts and baptized on May 13, 1744, the son of Thomas and Lois (Orne) Lee. His father, Thomas Lee was a Harvard graduate and prosperous merchant in Boston and Salem, Massachusetts. Joseph was a sea captain, and merchant in Boston, Beverly, and Salem, operating his own merchant business with his in-laws, the Cabots, at the firm Cabot and Lee. During this time, he maintained mercantile trade with the West Indies and Spain.

Joseph Lee was a successful merchant on Long Wharf in Boston, when on the night of December 16, 1773, Lee was one of several participants who helped dump over 300 chests of British Tea from the English ships; Dartmouth, Beaver, and Eleanor, into Boston Harbor during the Boston Tea Party. Joseph was also a skilled naval architect, and during the Revolutionary War he built a fleet of ships, which he sent out as Privateers. It was during the Revolutionary War that Joseph achieved the rank of Captain.

As a shipbuilder, it was Joseph’s responsibility, upon receiving a contract for a ship, to supervise the entire building process to choose plans and carpenters, and to make all purchases of construction materials, rigging, etc. He later built at least Nine Vessels from 1813 to 1816 for such notable individuals and firms such as Thomas H. Perkins, and Ropes Pickman and Company (see Appendix II).

Joseph Lee moved to Boston in 1807, and became a Director of various banks and insurance companies. He designed, for free, the “Essex Bridge,” loved gardening, and donated $20,000 to Massachusetts General Hospital a year before he died.

Lee was a Member of the Massachusetts Lodge of Freemasons. Dr. Joseph Warren was the Master of the Lodge of St. Andrews when he was killed by the British at the Battle of Bunker Hill. He was replaced as Master by John Hancock, who would become President of the Continental Congress, and be the only member of Congress to actually Sign the Declaration of Independence on July 4, 1776. Patriot and Silversmith Paul Revere, Jr. was also a Mason and member of the Lodge.

At a “special communication” on July 4, 1995, M.W. David W. Lovering (Lodge Grand Master 1993-1995), and other Grand Lodge officers and members marched from the Old State House to the current State House to “Relay the Cornerstone,” which was originally laid by Master Paul Revere on July 4, 1795. The trowel that was symbolically used was one that had been handmade by Paul Revere.

Joseph’s first wife was Elizabeth Cabot, the daughter of Joseph and Elizabeth (Higginson) Cabot, whom he married June 9, 1769; they had twelve children together. Elizabeth Lee died in June 1783. Joseph married his second wife, Deborah (Higginson) Cabot, the daughter of Stephen and Elizabeth (Cabot) Higginson, on May 12, 1793. He died on February 6, 1831, and is buried at the Old Granary Burying Ground, tomb number 125 [alongside, or as part of, George Cabot’s tomb-LSL], in Boston.”

Of Related Interest:

A Highly Important Lee Family Chippendale Carved and Figured Mahogany Desk-and-Bookcase, possibly by George Bright, Boston, Massachusetts, circa 1765-1785, likely originally owned by Joseph Lee (1744-1831) of Salem and Boston, who married Elizabeth Cabot (1746/47-1786), sold at Sotheby’s auction New York, January 20th, 2017 for about $300,000.00 and was offered together with another lot 4012, being a rare American Corporate Silver Seal of the Proprietors of Essex Bridge, Boston, dated 1788, possibly engraved by Paul Revere Jr. one of his fellow Mason Grand Lodge members in Boston.
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Lot Number: 122
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