拍品描述： United States of America. Act of June 13, 1898-Three Percent Loan of 1898. $20 3% Registered Bond. Hessler X188A. Issued. Choice Very Fine.The Spanish-American War related bonds are extremely interesting and rare. The Spanish governance of Cuba and Puerto Rico were, in the view of the United States, violations of the 1823 Monroe Doctrine. In the diplomatic world, things can be status quo until perhaps events create opportunity for American influence to prevail. The United States certainly preferred Cuba to have a government independent of Spain, whose colonial empire was disintegrating. The war erupted rapidly and made Theodore Roosevelt one of the most influential politicians in American history. This short war was packed into a period of patriotic fervor over the explosion and destruction of warship <em>U.S.S, Maine</em> in Havana harbor. With the slogan: "Remember the Maine," it was easy to provoke the public to buy such (comparatively) low denomination bonds. The low denomination bonds in the act were for sale to the public, who were encouraged to show their patriotism and assistance in funding the war effort. The bonds interest was tax exempt. Of course to a working person, $20 was still quite a sum and often payments were used to purchase a bond. The War Revenue Act of 1898 not only created nearly $200,000,000 of these loan certificates, it also enacted the first Federal estate tax and placed taxes on liquor and other items the populace craved for recreation ("sin" taxes as we refer to them today). This $20 Registered Bond is extremely rare we believe, much more so than the $20 3% coupon bonds. Very finely executed certificate by the Bureau of Engraving and Printing. 31.5cm by 14.5cm. Brown frame, undertint with THREE PER CENT, and vignette of the Capitol, well forested in the foreground, lower right. Henry Clay at right end by Alfred Sealey. Large red Treasury seal. Obligation across engraved Lyons signature. August 1, 1898 engraved date. Perpendicular to face is green transfer back. Not transferred and not redeemed. No. 15255. Hand dated Nov. 1, 1898. This bond was fully negotiable, but was not redeemed by its registered owner. This is a gorgeous example and the notoriously conservative Smythe catalogers called it "EF" in 1996. Excellent colors on both sides; bold and vibrant. An important type and the Joe I. Herbstman Memorial Collection of American Finance website reports only two known. Their illustrated bond is the next serial to this one. When described in the 1996 Smythe sale, it was its first offering of the type in 20 years. The type was not in the comprehensive 2015 Heritage FUN Platinum Night sale. The $20 coupon loans are comparatively plentiful and have $10,000 or upwards realizations in the past several years. Worth a runaway price for the collector who desires the highest rarity, beauty, condition, and historical significance.From the John E. Herzog Collection; 1996 Strasburg Sale #154 (R.M. Smythe & Co., September 20, 1996, lot 2347).