Tolls from Concord in N. H. to Medford in Mass. REDUCED.: The proprietors of the several Turnpike Roads and Bridges...have severally agreed to reduce the tolls thereon,

NEW HAMPSHIRE AND MASSACHUSETTS TURNPIKE TOLLS REDUCED AS A RESULT OF THE FIRST GREAT DEPRESSION

[TURNPIKES, EARLY AMERICAN]. Tolls from Concord in N. H. to Medford in Mass. REDUCED. The proprietors of the several Turnpike Roads and Bridges on the above route, desirous to render their expences of travelling on the above roads as light as possible, and of giving every accommodation in their power to passengers--have severally agreed to reduce the tolls thereon, from what is allowed by law, or what has heretofore been taken--and have pledged themselves to each other and the public, that from and after the first day of June next, for the term of two years succeeding that date, the rates of tolls demanded shall in no case exceed those stated in the columns below...and that they will use their endeavours to induce Innholders to be as accommodating...Rates of Toll allowed by law, with the reduced rate agreed upon for the following descriptions of carriages and passengers...May 28th, 1822. Large folio broadside, 14 x 21 1/4", with wide margins. N.p. [Concord, New Hampshire? 1822].

Apparently unrecorded. An interesting piece of early American financial history. The actual term "turnpike" refers to a barrier built across the highway, to be opened only after the required tolls were paid. They were set up at every mile. The first New Hampshire Turnpike was incorporated in 1796, and completed in 1801. The Londonderry Turnpike Road was incorporated June, 1804 from Concord, Bow, Hooksett, Chester, Londonderry, corner of Windham Salem, to line of Massachusets, a distance of 36 miles. One of the roads used by modern Rt. 28 leading from the northern suburbs of Boston in the direction of Manchester, New Hampshire was the Andover and Medford Turnpike. The Andover and Medford company maintained a toll gate at the Essex-Middlesex county line jointly with the Essex Turnpike corporation. The road collected tolls until January 1836, when the road became public.

That corporations lowered their toll rates must surely have been the result of the lingering financial impact of the Panic of 1819, sometimes called the first Great Depression, a financial crises that lasted from 1819-1822. By 1823 the panic was over, but it left a lasting imprint on American politics. Early 19th century American turnpikes were built by private corporations that raised money by selling shares to the general public. Three turnpike corporations and two bridges here published their old and new toll rates in cents and mills They are, "Londonderry Turnpike 36 miles"; "Isle Hookset Bridge."; "Essex Turnpike 10 miles"; "Andover Bridge"; and "Andover & Medford Turnpike 12 1/2 miles." The tolls per mile allowed by law are printed in 5 columns, one for each corporation, as are the new, reduced, tolls, the reductions often up to 50%, or more. Old and new tolls for 20 categories include, horse and rider; sulkey, chair or chaise with one horse; chariot, coach, or Phaeton, two horses; Curricle with two horses; Stage coach with 4 horses, on wheels; Cart, waggon or carriage of burthen with one horse; Sleigh 1 horse other than sleds of burthen; Sled of burthen and one horse; Handcart or wheelbarrow with one man; Neat creature in drove or driven; Sheep and swine; Horse driven loose, etc. Some fold lines, and mild damp stain at right blank edge.