State of New York Gold Bond (1925) — Canal Improvement— $50,000

Vintage New York Canal Financing History (1921 Gold Bond)

Own a remarkable piece of State of New York history with this State of New York Gold Bond issued in 1921 for $50,000. This bond was issued by the New York State Comptroller for the improvement of the Erie, Oswego, and Champlain canals.

Issued for the Erie, Oswego & Champlain Canal Improvements

The funding for this bond traces back to New York’s major public works legislation:

• Chapter 147 of the Laws of 1903 (Barge Canal Act): Authorized the $101,000,000 barge canal improvement project to modernize the Erie, Oswego, and Champlain canals for 1,000-ton barges, including statewide approval mechanisms and constitution-based planning.
• Chapter 302 of the Laws of 1906 (Amendatory Act): Extended repayment terms up to 50 years and allowed contracts to be let incrementally—helping New York proceed methodically with multi-year canal construction.

Bond Details (Collectors & Investors)

• Issuer: State of New York (New York Comptroller’s Office)
• Issued To: Beneficiaries of Private & Court Trust Funds
• Issue Year: 1921
• Face Value: $50,000
• Project: Improvement of the Erie, Oswego, and Champlain canals
• Due: 1923
• Payment: Payable in gold coin of standard weight and fineness
• Payment Location: Transfer Office in the Bank of the Manhattan Company (now JPMorgan Chase)
• Interest Rate: 3%
• Signature: Hand-signed by the Deputy Comptroller