Partly-printed vellum DS, signed “Wm. Bingham,” one page, 9.5 x 7.5, March 10, 1795. Stock certificate issued to Charles G. Paleske for one share of stock in the Company of the Philadelphia and Lancaster Turnpike Road, with the upper section featuring an engraved vignette of a horse-drawn wagon on the aforenamed road. Signed at the conclusion by William Bingham as president, and countersigned by its treasurer, Tench Francis, Jr., who served as the first cashier of the Bank of North America. In very good to fine condition, with scattered staining and soiling.
A prominent Philadelphia merchant who became a major land speculator after the Revolution, William Bingham was elected president of the turnpike company. Despite his other interests—he was a United States Senator and business partner of Robert Morris and Bank of the United States president Thomas Willing—Bingham carefully supervised the construction of the project. Work on the road began in early 1793 and the highway was opened—if still partially incomplete—by late 1794, ultimately costing $465,000 to connect Philadelphia with Lancaster, some sixty-five miles to the west. According to engineered plans and specifications, the Philadelphia and Lancaster Turnpike is the first long-distance paved road built in the United States.
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