Power Authority of the State of New York Bond Certificate

Description

Power Authority of the State of New York Bond Certificate
This piece is an Ebay exclusive. We are only offering this piece here!
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. Governor Alfred E. Smith called throughout much of the 1920s 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." In 1931, a commission established to study the hydroelectric potential of the St. Lawrence River called for creation of the Authority to build generating facilities on the river. And 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 as he prepared to sign the legislation.
Frequently Asked Questions:
Is the certificate in this listing, the exact piece I will receive?
Yes.
Is this document authentic or a reproduction?
All pieces we offer are originals - we do not sell reproductions. If you ever find one of our pieces not to be authentic, it may be returned at any time.
Can this certificate be cashed in?
All of our certificates are sold only as collectible pieces, as they are either canceled or obsolete. Certificates carry no value on any of today's financial indexes and no transfer of ownership is implied.
Do you combine shipping?
We offer flat rate shipping - whether you order 1 certificate or 100 - you pay only the published flat rate.
To take advantage of our flat rate shipping offer,
you must add all of the pieces you would like to your eBay cart
and perform a single checkout. If you use "Buy It Now" for each individual certificate, you will be charged a shipping charge each time - this is an unfortunate limitation of the eBay system.
Is all of your inventory on eBay?
Absolutely not! We have 1,000s of certificates on our website.