Beautifully engraved certificate from the
Seaboard All Florida Railway issued in 1925. This historic document was printed by American Banknote Company and has an
ornate border around it with a vignette of two trains and automobile at a rail station. This item is hand signed by the Company's officers and is over 80 years old. Folded with some signs of wear on the folds.
Certificate Vignette
The Seaboard All-Florida Railway was incorporated in June, 1925. It leased the lines of the East & West Coast Ry and the Florida Western & Northern Ry and promptly leased itself and these lines to the Seaboard Air Line Railway.
Gold Bonds
Many times Bonds were Payable in Gold or Gold Coin to give the impression that they were a more secure investment. In reality, they were not more secure since there wasn't any gold set aside as collateral for these bonds.
On April 5, 1933, President Franklin D. Roosevelt signed Presidential Executive Order 6102 which invoked his authority to make it unlawful to own or hold gold coins, gold bullion, or gold certificates. The export of Gold for purposes of payment was also outlawed, except under license from the Treasury.
On January 30, 1934, the Gold Reserve Act became law which made the ownership of gold illegal except for coins of numismatic value. As a result of this law, Bonds were no longer allowed to be Payable in Gold.