1780's dated Connecticut Line Bond signed by Peter Colt, Grandfather of Samuel Colt, Famed Gun Maker
Inv# CT1001 Bond
Signed by Peter Colt, who served as Treasurer and was the grandfather of gun maker Samuel Colt, this document is dated 1782. The bonds are in crisp, uncirculated condition. They were issued to soldiers who were either lost in action or possibly deserted. This is a very rare item! Peter Colt held the position of Connecticut State Treasurer from 1790 to 1794.
The Connecticut Line was a military formation within the Continental Army. The designation "Connecticut Line" referred to the quota of numbered infantry regiments that were assigned to Connecticut at various times by the Continental Congress, with the size of its allocation being determined by the state's population in relation to other states. These regiments, along with similarly apportioned units from the other twelve states, constituted the Continental Line. This concept was particularly significant regarding the promotion of commissioned officers, as officers in the Continental Army below the rank of brigadier general were typically ineligible for promotion outside of their own state's line.
Throughout the war, a total of 27 infantry regiments were assigned to the Connecticut Line. This included the eight provincial regiments established in 1775, Wooster's Provisional Regiment (which was formed by consolidating the remnants of the original 1st, 4th, and 5th Regiments), the five numbered Continental regiments from 1776, the eight Connecticut regiments from 1777, S.B. Webb's Additional Continental Regiment (which later became the 9th Connecticut Regiment), and four new regiments that were created through consolidation in 1781.
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
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