Autograph letter signed by John Nicholson (1757-1800), as a prisoner in the Prune Street Debtors' Prison. Philadelphia, October 6, 1800. 1 page, manuscript on paper, approx. 8 x 10 inches. Addressed to Thomas Fitzsimmons (1741-1811), as Director of the Bank of North America.

Writing just two months before his death, the disgraced financier advises Fitzsimons regarding the avoidance of taxes on Kentucky land holdings: "...as the same parade of advertising took place in 1796 for the taxes... in Kentucky and yet no sales were made... therefore... the money should not be paid until it was found to be absolutely necessary to prevent the sale."

John Nicholson was a central figure in the early American financial landscape. Appointed Comptroller General of Pennsylvania in 1782, Nicholson was credited with restoring the state’s financial stability following the Revolution. A tireless advocate for economic development, he sponsored numerous industrial innovations and transportation improvements, supporting many of the era's most prominent inventors and mechanics.

However, Nicholson’s aggressive and often cavalier financial maneuvers drew significant scrutiny. In 1793, he was impeached on charges of diverting state funds. Following his resignation from office, he entered into a massive speculative partnership with British-born financier Robert Morris (1734-1806) and James Greenleaf (1765-1843). Together, they formed the North American Land Trust Company, one of the largest land trusts in American history, claiming ownership of some 6,000,000 acres across seven states.

The venture proved disastrous. The company was plagued by dubious land titles and the unsellable nature of much of the acreage, which often consisted of sandy wilderness. By the late 1790s, the speculative bubble burst, leaving Nicholson in dire financial straits. Despite being acquitted of his earlier impeachment charges in 1794, he was eventually hounded by creditors and confined to the Prune Street Debtors' Prison in 1799, alongside his partner Robert Morris. Nicholson suffered a complete mental and physical collapse while incarcerated, dying on December 5, 1800 with debts exceeding four million dollars.