April 20, 1801-Dated Federal Period, Manuscript Promissory Note signed "Joel Pratt," at Bennington for value to James Cooper, with a 25-cent Embossed Revenue Stamp at left end with image of an American Heraldic Eagle holding a shield above a circular shield with stars. Very Fine. Well embossed Second Federal Issue, RM-263, revenue stamp at left end of this 7.25" x 3.25' promissory note. Written in dark brown ink and payable for the sum of One Hundred Twenty Two Dollar and Twenty Four Cents at Bennington. Lightly damp stained at the upper right, boldly written and clean on period laid paper.
Great Britain introduced embossed revenue stamps in 1694 as a method to raise revenues. These stamp taxes were also introduced to the colonies by the British Government. These stamps were a great source of outrage to the colonists but by the late 18th century the U.S. Government and many of the states enacted similar taxes. Embossed stamps like the one impressed on this document were impressed on official revenue paper. These embossed stamps would eventually influence the design of our modern postage stamp.