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Inherits Ancient Bond Found Among His Grandmother’s Papers
Philip Wallach discovered a Revolutionary War bond among his grandmother’s documents. The unredeemed bond carried 6 percent compound interest and was worth 2186 dollars in 1779, with accumulations bringing an estimated value near a million today. Wallach traveled to Washington after Massachusetts declined payment, citing state obligations were assumed by the federal government and a time limit on the bond.
MENTIONED IN THIS ARTICLE
Philip Wallach
Wallach
Washington
Massachusetts