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Historic manuscript DS, signed “B. Franklin,” two pages, 7.25 x 12, March 7, 1787. Petition submitted to "his Excellency Benjamin Franklin Esquire President of the Supreme Executive Council of the Commonwealth of Pennsylvania," in part: "The Petition of Conrad Hester and Elizabeth Singeisen of the City of Philadelphia in Behalf of themselves and other Creditors of Abraham Bachman…Abraham Bachman using & exercising the Trade of a Merchant…being indebted unto your Petitioners in the Sum of Three hundred Pounds on or about the Sixth Day of March Instant did become Bankrupt within the Meaning of the Act of Assembly of this State lately made entitled 'An Act for the Regulation of Bankruptcy' to the Intent to defraud & hinder your Petitioners and others…May it please your Excellency to grant unto your Petitioners a Commission under the Great Seal of the Commonwealth…authorising them thereby not only concerning the said Bankrupt his Body, Lands & Tenements, Goods, Chattels, Debts, and others Things whatsoever…To do and execute all and every the Thing & Things whatsoever as well for & towards Satisfaction & Payment of the said Creditors." Signed at the conclusion by the petitioners with their marks, and countersigned as "sworn before me" by Benjamin Franklin. Handsomely cloth-matted and framed with a plaque and engraved portrait to an overall size of 35 x 20.5. In fine condition, with trimming to the bottom of the signed page.
An exceptional document linked to the first modern bankruptcy law enacted in Pennsylvania in 1785, ‘An Act for the Regulation of Bankruptcy,’ one of the first instances the term ‘bankruptcy’ is used in American law. Very few jurisdictions during the later part of the 17th century and the beginning of the 18th century, and Pennsylvania in 1785, enacted legislation based on the English bankruptcy acts, in which the creditors initiated proceedings against merchants. Franklin, in his capacity as president of Pennsylvania's Supreme Executive Council, played a role in overseeing the legal proceedings related to bankruptcy, connecting the document to a pivotal period in American legal history. In essence, this handwritten artifact reflects the practical application of early bankruptcy regulations and stands as a tangible link between Franklin's influence, the evolving legal landscape of the late 18th century, and the nascent stages of modern bankruptcy regulation in the United States.
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