Nicely engraved antique bond certificate from the Power Authority of the State of New York dating back to the 1960's. This document, carries the printed signatures of the company Chairman and Secretary, was printed by the American Bank Note Company, and measures approximately 9 1/4" (w) by 13 1/2" (h).
This certificate's vignette features the agency's seal.
You will receive the exact certificate pictured.
The first seeds of a Power Authority were planted by New York Governor Charles Evans Hughes (later Chief Justice of the United States), who in 1907 declared that the state's undeveloped waterpower "should be preserved and held for the benefit of the people and should not be surrendered to private interests." Planning for public ownership began, but a proposal eventually foundered in the Legislature because of its high cost.
In 1914, Theodore Roosevelt, former governor and president, warned against "waterpower barons" seeking a monopoly on New York's natural resources. Throughout much of the 1920s Governor Alfred E. Smith called for hydropower development by a state authority, but his efforts failed to win approval in the Legislature.
Ultimately, Governor Franklin D. Roosevelt gained public and legislative support for a Power Authority "to give back to the people the waterpower which is theirs.” On April 27, 1931, Roosevelt signed the Power Authority Act into law, calling it the most important action taken during that year's legislative session. "It is my earnest hope that this is the forerunner of cheaper electricity for the homes and farms and small business people of the state," the governor said in a radio speech.
All of our pieces are original - we do not sell reproductions. If you ever find out that one of our pieces is not authentic, you may return it for a full refund of the purchase price and any associated shipping charges.