Van Diemen's Land - Third of Exchange (1828) for £400 - Type 6b - $22,500
Stock# 120435

Quantity

A 'Third of Exchange' was essentially a triplicate copy of a receipt for payment made to an individual for services or goods provided to the Government Commissariat Office.

The value of the exchange was paid in kind at the Commissariat store, or was redeemable in this instance at His Majesty's Treasury, Whitehall. London.

Because of the possibility that a ship could be lost, the 'First of Exchange' and the 'Second of Exchange' which were the other copies of the transaction were sent separately to London on different vessels, and only the first to arrive was honored.

The notation on the front of the note indicates that the 'First of Exchange' was sent on the 'Medway' on the 20(th) Ap(ril),1828 and the 'Second of Exchange' on the 'Calista' on the 3rd July, 1828.

More often than not the notes were signed over (traded) to another party as payment for other transactions and circulated to some extent like the promissory notes that were privately issued by store owners.

The reverse of this note shows that this particular note was signed over to Gamaliel Butler, a prominent Hobart solicitor at the time.