George Washington was a farmer surveyor soldier and the first President of the United States of America. His gradual rise to success was rooted in the many lands that he owned. Having spent his younger years on a farm and then as a surveyor Washington acquired massive plots throughout modern-day Virginia and West Virginia. On November 24 1797 farmer James Welch first reached out to Washington requesting to lease some of Washingtons land near the Great Kanawa (West Virginia). With Welch having no background or family standing in the area Washington was hesitant and proceeded with caution. The two met several times over the next few weeks to negotiate the terms. On December 10 1797 advised by his lawyer James Keith George Washington drafted a long lease agreement. The portion presented in this lot written entirely in Washington's hand reads:

"...and his heirs will [illegible] and truly execute fulfill and perform and simpular (sic) the trusts herein contained and expressed on his and their part to be executed fulfilled and performed in witness where of the said parties have hereunto set their hand I seal the day and year first before mentioned James Welch G. Washington Sealed and delivered in presence of Cleon Moore Sam Craig John Gadsby

The indenture has an archival date of December 16 1797 (http://founders.archives.gov/documents/Washington/06-01-02-0455). Next to Welch and Washingtons fine signatures are cloud-like shapes notating the seal of the document. The agreement was to be $5000 for the first year $8000 for the next year $11143 annually for the next 30 years and $22289 for the next 99 years or until the $200000 total was reached. Today that amount would be equivalent to around $3.85 million. At the bottom of the agreement three witnesses names are signed: Cleon Moore Sam Craig and John Gadsby a local businessman who owned Gadsbys Tavern that Washington frequented in Alexandria VA.

In the two years that followed Washingtons suspicions about Welch proved correct. Washington received no form of payment and many of the letters Welch claimed to have sent never made it to Washingtons Mount Vernon VA residence. Washington later discovered through correspondences with other merchants and landowners that Welch was impersonating a Major in the Army and claimed to have purchased the lands that he indentured above. Washington was furious and sent Welch a stern letter on April 7 1799 threatening his reputation and character. The final known correspondence between the two was May 26 1799 in which Washington demanded that Welch be removed from the land by November and requested the names of any tenants who have taken residence on Washingtons land. Welch never did pay Washington and the land was eventually returned to Washingtons estate following his death in December 1799. Visit founders.archives.gov to read the archived correspondences between Washington and Welch. Sotheby's offered the 12/16/1797 indenture in their December 1995 catalog. This exact piece was sold by RR Auction in 2014 for $13023.

Set in a rich cherry wood frame measuring 23 by 28 with tweed matting and a decorative photo of Washington crossing the Delaware this well-preserved portion of the letter bares great care in the nearly 220 years since it was originally written by our nation's First President. A rare and fascinating example of the early land disputes and legal battles in America that plagued even one of the United States most prestigious Founding Father.

Includes full LOA from PSA/DNA for George Washington's signature.