CRAGGS, James, Postmaster-General. 13988

£45

Description

Original Signature, cut from a dividend receipt book. Horizontal strip, 1 x 9 inches, in good condition. Dated in a later hand to c.1716. James Craggs the Elder (1657-1721). He was in business as an army clothier and held several official positions, becoming joint Postmaster-General in 1715; and, making the most of his opportunities in all these capacities, he amassed a great deal of money. Craggs also increased his wealth by mixing in the affairs of the South Sea Company, but after his death an act of parliament confiscated all the property which he had acquired since December 1719. He left an enormous fortune when he died in disgrace for his involvement in the South Sea Bubble, a month after the death of his son. It is possible that Craggs the elder committed suicide.