1869 State of North Carolina Bond Certificate signed by William Holden. Continuing a tradition of supporting railroad construction before the Civil War, these bonds were issued after the war to rebuild rail lines destroyed in the war. Unfortunately, corruption was rampant in southern states after the war, and most of the funds earmarked for railroad repair and construction were siphoned to unscrupulous businesses. William Holden, governor of North Carolina, when the bonds were issued, was a courageous progressive in a troubled time. He was self educated, eventually becoming an owner of the North Carolina Standard newspaper, which he used to advocate for universal education, improved labor conditions, and generally for a better life for commoners. Though he supported Southern rights in the pre-war period, he shifted positions, seeing the war as a disaster for North Carolina. Appointed governor after the war by president Andrew Johnson, and elected as governor later, he sought to limit the power of the Ku Klux Klan. This eventually led to his impeachment and removal from office. This scripophily document is in VF+ condition.