Southern Life Insurance and Trust Co. of Florida - 1839 dated $1,000 or 225 Pound Bond - Extremely Popular State
Inv# GB5587 Bond
$1,000 or £225 Sterling 5% Sinking Fund Bond. Only 400 issued.
The Southern Life Insurance and Trust Co. of Florida, an early and historically significant financial institution, operated primarily as a bank and also issued notes in the Territory. These bonds form part of the repudiated debt of the State of Florida.
The company is primarily recognized for its 1839 bonds, which were guaranteed by the State of Florida and signed by the then-governor, Richard K. Call. These bonds, valued at $1000/£225, were black printed with coupons attached and are considered a scarce historical artifact today. They reflect a specific period of early American finance in Florida’s territorial era.
While the exact details of the company’s full operational history and eventual fate are obscured by the passage of time and the existence of many similarly named insurance companies throughout Southern history, its primary legacy rests in these physical bonds, which are now collector’s items. Unlike other Southern life insurance companies that operated later into the 20th century, the Southern Life Insurance and Trust Co. of Florida appears to have been a very early endeavor from the pre-Civil War period. Its bonds serve as a tangible link to Florida’s early economic development and state-level financial guarantees of the time.
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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