where did jefferson get the money for the louisiana purchase

Why was the Louisiana Purchase a problem for Jefferson?

The Louisiana Purchase posed a dilemma for President Thomas Jefferson, as he was uncertain of his legal authority to make such a deal. A strict constructionist, Jefferson had misgivings because he knew the U.S. Constitution did not confer any authority for acquiring territory. What was ironic about the Louisiana Purchase?

Why did Jefferson finally agreed to the purchase of Louisiana?

With the support of the American people, Jefferson decided to go through with the purchase. Jefferson needed to move quickly when he discovered that Spain had signed a secret treaty with France in 1801 ceding Louisiana to France. France suddenly posed a potential threat to America.

What are 10 facts about the Louisiana Purchase?

8 Things You May Not Know About the Louisiana Purchase

1. France had just re-taken control of the Louisiana Territory. French explorer Robert Cavelier de La Salle first claimed the Louisiana Territory, which he named for King Louis XIV, during ...
2. The United States nearly went to war over Louisiana. Under a 1795 treaty with Spain, U.S. ...
3. The United States never asked for all of Louisiana. ...

More items...

Was the Louisiana Purchase a good deal?

The major benefits of the Louisiana purchase were the vast expansion of the territory of the United States and the acquisition of an abundance of natural resources for a modest price. It removed France as a colonizing presence in the area and gave the United States the important port of New Orleans and the trading channel of the Mississippi River. The Louisiana purchase encompassed about 828 million square miles of territory from the Mississippi River to the Rocky Mountains.

Where did the US get the money for the Louisiana Purchase?

But despite landing Louisiana for less than three cents an acre, the price was more than the United States could afford. As a result, it was forced to borrow from two European banks at 6 percent interest.

How was the Louisiana Purchase financed?

The short answer is that the $15 million purchase price for the Louisiana territory was paid by the still fledgling U.S. government with a combination of $11.25 million in government bonds and through the federal government's assumption of $3.75 million in debts owed by the French government to American individuals and ...

Who does Thomas Jefferson get the Louisiana Purchase from?

FranceThe Louisiana Purchase (1803) was a land deal between the United States and France, in which the U.S. acquired approximately 827,000 square miles of land west of the Mississippi River for $15 million.

How did Jefferson get the Louisiana Purchase?

They negotiated a purchase treaty and returned to the U.S. in time for an announcement to be made on July 4, 1803. The Louisiana Purchase Treaty would not be final until it was ratified by the Senate, funded by the House of Representatives, and signed by the President.

How much is the Louisiana Purchase worth today?

There were 222 land relinquishments from Indian communities to the U.S. government between 1804 and 1970. The final purchase price for these lands was no less than $2.6 billion ($8.5 billion in 2020), much higher than the $15 million the U.S. paid to France.

Did the Louisiana Purchase put America in debt?

In 1803 the government increased its debt fifteen million dollars when the United States purchased the Louisiana Territory from France. Still, this major expense did not alter Gallatin's plan for the nation's economy.

Why did Jefferson struggle with the Louisiana Purchase?

Jefferson adhered to a strict interpretation of the Constitution and believed that without a specific enumeration of his right as president to acquire the purchase, buying the Louisiana Territory could plausibly be unconstitutional.

How much did the U.S. pay for the Louisiana Territory?

$15 millionIn 1803 the United States paid France $15 million for the Louisiana Territory--828,000 square miles of land west of the Mississippi River.

Why did France sell the Louisiana Purchase?

Napoleon Bonaparte sold the land because he needed money for the Great French War. The British had re-entered the war and France was losing the Haitian Revolution and could not defend Louisiana.

Did Jefferson have the right to buy Louisiana?

The ability to buy property from foreign governments was not among these powers listed the Constitution – a fact that his political opponents, the Federalists, were eager to point out to the President. Instead, Jefferson considered a constitutional amendment the only way to conclude the deal with France.

Why did President Jefferson purchase Louisiana from the French quizlet?

Why did Thomas Jefferson want to purchase Louisiana? He wanted the US to be able to freely use the Mississippi River and the Port of New Orleans for shipping crops to market. In what year did the Louisiana Purchase occur?

Why did Thomas Jefferson want to buy New Orleans?

At first Jefferson only wanted to purchase the city of New Orleans to ensure American access to the Mississippi River and trade routes to the eastern America. The French offered to sale the entire Lousiana Territory instead of just the city of New Orleans. This purchase enabled the vast expansion of the United States.

Who funded Louisiana Purchase?

As part of the deal, the U.S. assumed responsibility for 20 million francs ($3.75 million) of French debts owed to U.S. citizens. The remaining 60 million francs ($11.25 million) were financed through U.S. government bonds carrying 6% interest, redeemable between 1819 and 1822.

How much did the US pay for the Louisiana Territory?

$15 millionIn 1803 the United States paid France $15 million for the Louisiana Territory--828,000 square miles of land west of the Mississippi River.

What are 5 facts about the Louisiana Purchase?

10 Interesting Facts About The Louisiana Purchase of 1803#1 it WAS NAMED IN HONOR OF KING LOUIS XIV OF FRANCE. ... #2 NAPOLEON WANTED TO USE LOUISIANA TO ESTABLISH A LARGE COLONIAL EMPIRE IN THE AMERICAS. ... #3 U.S. WAS CONSIDERING GOING TO WAR OVER THE LOUISIANA TERRITORY. ... #4 Its Plan WAS FIRST PUT FORWARD BY A FRENCH NOBLEMAN.More items...•

Why was the Louisiana Purchase unconstitutional?

The ability to buy property from foreign governments was not among these powers listed the Constitution – a fact that his political opponents, the Federalists, were eager to point out to the President. Instead, Jefferson considered a constitutional amendment the only way to conclude the deal with France.

What was the Louisiana Purchase?from history.com

The Louisiana Purchase signified the United States ’ acquisition of imperial rights to land that was still largely occupied by Native American peoples, and it began a treaty process with those peoples that lasted over 150 years.

Why did Jefferson send James Monroe to Paris?from history.com

In response, Jefferson sent future U.S. president James Monroe to Paris to aid Livingston in the New Orleans purchase talks . In mid-April 1803, shortly before Monroe’s arrival, the French asked a surprised Livingston if the United States was interested in purchasing all of Louisiana Territory.

Why did Napoleon want to sell Louisiana?from britannica.com

There are good reasons to believe that French failure in Santo Domingo (the island of Hispaniola ), the imminence of renewed war with Great Britain, and financial stringencies may all have prompted Napoleon in 1803 to offer for sale to the United States the entire Louisiana Territory. At this juncture, James Monroe arrived in Paris as Jefferson’s minister plenipotentiary; and even though the two American ministers possessed neither instructions nor authority to purchase the whole of Louisiana, the negotiations that followed—with Franƈois, marquis de Barbé-Marbois, minister for the treasury, acting for Napoleon—moved swiftly to a conclusion.

What were the concerns of the Federalists and Jeffersonians?from en.wikipedia.org

Both Federalists and Jeffersonians were concerned over the purchase's constitutionality. Many members of the House of Representatives opposed the purchase. Majority Leader John Randolph led the opposition. The House called for a vote to deny the request for the purchase, but it failed by two votes, 59–57. The Federalists even tried to prove the land belonged to Spain, not France, but available records proved otherwise. The Federalists also feared that the power of the Atlantic seaboard states would be threatened by the new citizens in the West, whose political and economic priorities were bound to conflict with those of the merchants and bankers of New England. There was also concern that an increase in the number of slave-holding states created out of the new territory would exacerbate divisions between North and South as well. A group of Northern Federalists led by Senator Timothy Pickering of Massachusetts went so far as to explore the idea of a separate northern confederacy.

Why did Jefferson act hypocritically?from en.wikipedia.org

Henry Adams and other historians have argued that Jefferson acted hypocritically with the Louisiana Purchase, because of his position as a strict constructionist regarding the Constitution since he stretched the intent of that document to justify his purchase. The American purchase of the Louisiana territory was not accomplished without domestic opposition. Jefferson's philosophical consistency was in question because of his strict interpretation of the Constitution. Many people believed that he and others, including James Madison, were doing something they surely would have argued against with Alexander Hamilton. The Federalists strongly opposed the purchase, favoring close relations with Britain over closer ties to Napoleon.

What territory was Louisiana in?from en.wikipedia.org

Effective October 1, 1804, the purchased territory was organized into the Territory of Orleans (most of which would become the state of Louisiana) and the District of Louisiana, which was temporarily under control of the governor and judicial system of the Indiana Territory. The following year, the District of Louisiana was renamed the Territory of Louisiana. New Orleans was the administrative capital of the Orleans Territory, and St. Louis was the capital of the Louisiana Territory.

What did Henry Adams claim about the sale of Louisiana?from en.wikipedia.org

Henry Adams claimed "The sale of Louisiana to the United States was trebly invalid; if it were French property, Bonaparte could not constitutionally alienate it without the consent of the French Chambers; if it were Spanish property, he could not alienate it at all; if Spain had a right of reclamation, his sale was worthless." The sale of course was not "worthless"—the U.S. actually did take possession. Furthermore, the Spanish prime minister had authorized the U.S. to negotiate with the French government "the acquisition of territories which may suit their interests." Spain turned the territory over to France in a ceremony in New Orleans on November 30, a month before France turned it over to American officials.

How much money did Jefferson buy?

After several weeks of negotiations, the Americans made a deal for the $15 million purchase, which exceeded what they had the authority to spend. It took several months for the official news to reach Jefferson in Washington, D.C., and it was announced on July 4, 1803. While the deal was instantly popular, there were problems.

How many states were involved in the Louisiana Purchase?

The land involved in the 830,000 square mile treaty would eventually encompass 15 states.

What did Jefferson tell Monroe?

Jefferson told his friend Monroe that “all eyes, all hopes, are now fixed on you, . . . for on the event of this mission depends the future destinies of this republic.”. Monroe had the authority to spend up to $10 million to acquire New Orleans and all or parts of Florida. But when Monroe arrived in Europe, Napoleon had already made a decision ...

Why did Jefferson know about the French?

Jefferson was very familiar with the French, due to his time in Europe as an American envoy. He also understood the potential military danger France posed if they controlled the Mississippi River.

What did Jefferson consider the only way to conclude the deal with France?

Instead, Jefferson considered a constitutional amendment the only way to conclude the deal with France. “The General Government has no powers but such as the Constitution gives it,” he wrote to John Dickinson in 1803. “It has not given it power of holding foreign territory, and still less of incorporating it into the Union.

What did Thomas Jefferson mean by the Constitution?

Jefferson took a strict, literal view of constitutional powers, meaning that specific powers reserved for the President and Executive Branch needed to be spelled out in the Constitution. The ability to buy property from foreign governments was not among these powers listed the Constitution – a fact that his political opponents, the Federalists, ...

Why did Napoleon sell the French territory to the United States?

But when Monroe arrived in Europe, Napoleon had already made a decision to sell the territory to the United States, in order to protect other French territories in the Caribbean and to finance his military efforts in Europe. Monroe and Livingston found out Napoleon wanted $22 million for the entire territory.

What did Thomas Jefferson fear about the Louisiana Purchase?

Jefferson and the Louisiana Purchase. Thomas Jefferson had always feared the costs of loose construction of the powers delegated to the national government in the Constitution, and the Constitution was silent about acquiring lands from other countries... Save to My Library. Check icon.

When did Jefferson ratify the Louisiana Purchase Treaty?

The Senate ratified the Louisiana Purchase Treaty in October of 1803.

What was Jefferson's belief in the federal government?

Jefferson had always stated his strong belief that the federal government’s powers should be interpreted strictly.

When was the Louisiana Purchase Treaty signed?

They negotiated a purchase treaty and returned to the U.S. in time for an announcement to be made on July 4, 1803. The Louisiana Purchase Treaty would not be final until it was ratified by the Senate, funded by the House of Representatives, and signed by the President.

Who was Jefferson's friend in France?

The new nation depended on New Orleans for its economic survival. In early 1803, Jefferson appointed James Monroe as a special envoy to France. Monroe and Minister to France Robert Livingston would try to buy land east ...

Did France give up all of its territory in North America?

France had given up all of its territory in North America by the end of the French and Indian War (1763). But Napoleon had plans to re-establish the French empire in North America. In 1801, America learned that Spain had agreed to return Louisiana to France.

Who did the United States buy Louisiana from?

When Spain later objected to the United States purchasing Louisiana from France , Madison responded that America had first approached Spain about purchasing the property but had been told by Spain itself that America would have to treat with France for the territory.

Who signed the Louisiana Purchase Treaty?

The signers were Robert Livingston, James Monroe, and François Barbé-Marbois.

What did Southerners fear about the French invasion of Louisiana?

Southerners feared that Napoleon would free all the slaves in Louisiana, which could trigger slave uprisings elsewhere. Though Jefferson urged moderation, Federalists sought to use this against Jefferson and called for hostilities against France. Undercutting them, Jefferson threatened an alliance with the United Kingdom, although relations were uneasy in that direction. In 1801, Jefferson supported France in its plan to take back Saint-Domingue (present-day Haiti ), which was then under control of Toussaint Louverture after a slave rebellion. Jefferson sent Livingston to Paris in 1801 with the authorization to purchase New Orleans.

Why did Jefferson act hypocritically?

Henry Adams and other historians have argued that Jefferson acted hypocritically with the Louisiana Purchase, because of his position as a strict constructionist regarding the Constitution since he stretched the intent of that document to justify his purchase. The American purchase of the Louisiana territory was not accomplished without domestic opposition. Jefferson's philosophical consistency was in question because of his strict interpretation of the Constitution. Many people believed that he and others, including James Madison, were doing something they surely would have argued against with Alexander Hamilton. The Federalists strongly opposed the purchase, favoring close relations with Britain over closer ties to Napoleon.

What states did the United States buy from France?

Canada. Alberta. Saskatchewan. The Louisiana Purchase ( French: Vente de la Louisiane 'Sale of Louisiana') was the acquisition of the territory of Louisiana by the United States from France in 1803.

What was the eastern boundary of the Louisiana Purchase?

The eastern boundary of the Louisiana purchase was the Mississippi River, from its source to the 31st parallel, though the source of the Mississippi was, at the time, unknown. The eastern boundary below the 31st parallel was unclear.

Why did Jefferson send James Monroe to Paris?

Part of his evolving strategy involved giving du Pont some information that was withheld from Livingston. Desperate to avoid possible war with France, Jefferson sent James Monroe to Paris in 1803 to negotiate a settlement, with instructions to go to London to negotiate an alliance if the talks in Paris failed. Spain procrastinated until late 1802 in executing the treaty to transfer Louisiana to France, which allowed American hostility to build. Also, Spain's refusal to cede Florida to France meant that Louisiana would be indefensible. Monroe had been formally expelled from France on his last diplomatic mission, and the choice to send him again conveyed a sense of seriousness.

What was the Louisiana Purchase?

The Louisiana Purchase of 1803 brought into the United States about 828,000 square miles of territory from France, thereby doubling the size of the young republic. What was known at the time as the Louisiana Territory stretched from the Mississippi River in the east to the Rocky Mountains in the west and from the Gulf of Mexico in the south to the Canadian border in the north. Part or all of 15 states were eventually created from the land deal, which is considered one of the most important achievements of Thomas Jefferson’s presidency.

When was Louisiana acquired?

In exchange, the United States acquired the vast domain of Louisiana Territory, some 828,000 square miles of land. The treaty was dated April 30 and signed on May 2. In October, the U.S. Senate ratified the purchase, and in December 1803 France transferred authority over the region to the United States.

Why did Jefferson send James Monroe to Paris?

In response, Jefferson sent future U.S. president James Monroe to Paris to aid Livingston in the New Orleans purchase talks . In mid-April 1803, shortly before Monroe’s arrival, the French asked a surprised Livingston if the United States was interested in purchasing all of Louisiana Territory.

What happened to the Louisiana Territory in 1796?

In 1796, Spain allied itself with France, leading Britain to use its powerful navy to cut off Spain from America. And in 1801, Spain signed a secret treaty with France to return the Louisiana Territory to France. Reports of the retrocession caused considerable unease in the United States. Since the late 1780s, Americans had been moving westward ...

What was the effect of the retrocession on the United States?

Reports of the retrocession caused considerable unease in the United States. Since the late 1780s, Americans had been moving westward into the Ohio River and Tennessee River valleys, and these settlers were highly dependent on free access to the Mississippi River and the strategic port of New Orleans.

Why did Napoleon offer Louisiana to the United States?

It’s believed that the failure of France to put down a slave revolution in Haiti, the impending war with Great Britain and probable British naval blockade of France – combined with French economic difficulties – may have prompted Napoleon to offer Louisiana for sale to the United States.

When did France give Louisiana to Spain?

In 1762, during the French and Indian War, France ceded French Louisiana west of the Mississippi River to Spain and in 1763 transferred nearly all of its remaining North American holdings to Great Britain. Spain, no longer a dominant European power, did little to develop Louisiana during the next three decades.

What was the Louisiana Purchase?

The Louisiana Purchase. The Louisiana Purchase (1803) was a land deal between the United States and France, in which the U.S. acquired approximately 827,000 square miles of land west of the Mississippi River for $15 million . [T]his little event, of France possessing herself of Louisiana, ...

How much did Monroe and Livingston buy Louisiana?

Seizing on what Jefferson later called "a fugitive occurrence," Monroe and Livingston immediately entered into negotiations and on April 30 reached an agreement that exceeded their authority — the purchase of the Louisiana territory, including New Orleans, for $15 million. The acquisition of approximately 827,000 square miles would double the size of the United States.

What did Jefferson say to Monroe?

Jefferson urged Monroe to accept the posting, saying he possessed "the unlimited confidence of the administration & of the Western people." Jefferson added: "all eyes, all hopes, are now fixed on you, .... for on the event of this mission depends the future destinies of this republic." 4

What was Jefferson's vision of obtaining territory from Spain?

Jefferson's vision of obtaining territory from Spain was altered by the prospect of having the much more powerful France of Napoleon Bonaparte as a next-door neighbor. France had surrendered its North American possessions at the end of the French and Indian War. New Orleans and Louisiana west of the Mississippi were transferred to Spain in 1762, ...

What was Monroe's charge?

As Jefferson noted in that letter, Monroe's charge was to obtain land east of the Mississippi. Monroe's instructions, drawn up by Madison and approved by Jefferson, allocated up to $10 million for the purchase of New Orleans and all or part of the Floridas. If this bid failed, Monroe was instructed to try to purchase just New Orleans, or, ...

How many square miles did the Louisiana Purchase Treaty cover?

The acquisition of approximately 827,000 square miles would double the size of the United States. Though rumors of the purchase preceded notification from Monroe and Livingston, their message reached Washington in time for an official announcement on July 4, 1803. The Louisiana Purchase Treaty. The purchase treaty had to be ratified by the end ...

What did Jefferson write in his letter to Livingston?

In his letter to Livingston, Jefferson wrote, "Spain might have retained [New Orleans] quietly for years. her pacific dispositions, her feeble state, would induce her to increase our facilities there, so that her possession of the place would be hardly felt by us.".

How was the Louisiana Purchase financed?

The Louisiana Purchase was financed through private investors in the UK and Belgium. The purchase was facilitated by investment house Barings & Hope (renamed Barings Bank; who, on a technical level actually was the title owner until repaid in gold plus interest), who sent Napoleon the money and credit he needed to continue waging war in Europe. The rest was French debt to US citizens that the Federal government assumed and repaid.

How much was the Louisiana Purchase settled?

According to this article in Wikipedia, the Louisiana Purchase was settled with $3M payment in gold as a down payment, and the US issued bonds for the rest.

How much gold was needed to make a payment in 1803?

The price of gold in dollars in 1803 was $19.39 per ounce ( Historical gold prices ), so about 580195 ounces of gold would have been needed to complete the payment.

Why did the French give Louisiana to Spain?

The French gave Louisiana to Spain in the Seven Years War in the Treaty of Fontainebleau of 1762, because after losing all the other lands in North America and having drawn Spain into a disastrous war they decided that was the best to keep Spain allied and Louisiana protected by the Spanish from the Britons. And it worked because Charles III signed the Treaty of Aranjuez later rebuilding the Franco-Spanish alliance, and taking in French Acadians from Canada, expelled by the British, into the newly Spanish Louisiana (where they live to this day).

What was the US check to Russia?

Image of the US check (ahem, sorry Brits -- " cheque ") to Russia for the purchase of Alaska, a pack of Dentyne, a box of Trojans, and some Pepcid AC.

What was the purpose of the purchase of Alaska?

The purchase of Alaska in 1867 marked the end of Russian efforts to expand trade and settlements to the Pacific coast of North America, and became an important step in the United States to rise as a great power in the Asia-Pacific region. Beginning in 1725, when Russian Czar Peter the Great dispatched Vitus Bering to explore the Alaskan coast, Russia had a keen interest in this natural and lightly inhabited region. As the United States expanded westward in the early 1800s, Americans soon found themselves in competition with Russian explorers and traders. St. Petersburg, however, lacked the financial resources to support major settlements or a military presence along the Pacific coast of North America and permanent Russian settlers in Alaska never numbered more than four hundred. Defeat in the Crimean War further reduced Russian interest in this region.

How much gold was purchased in 1803?

The actual purchase price was not in dollars, but in French francs. In 1803, the French franc was worth 290.034mg of gold. The United States paid 68 million francs, for a total of 19,722 kg of gold, or a touch over 634,000 troy ounces of gold.

Why was the Louisiana Purchase important to Jefferson?

“It was very important to Jefferson because he really wanted every free member of society to be able to own land.

What was the purpose of the Louisiana Purchase?

The story of the Louisiana Purchase begins with France and Spain. The two European countries wanted to limit the power of the United States. So, in 1800, Spain and France entered into a secret treaty. In the treaty, Spain gave France control of a large area in North America called the Louisiana Territory.

Why did Jefferson send James Monroe to Paris?

He felt the French presence was a threat to the peace of the United States. He decided to try to buy parts of the Louisiana Territory, especially around the mouth of the Mississippi River near the city of New Orleans. Jefferson sent James Monroe to Paris as a special negotiator. But Monroe never had a chance to offer the American position.

How many electoral votes did Jefferson get?

But they were sure their candidate would get as many as 40 electoral votes. The results shocked the Federalists. Jefferson received 162 electoral votes. Pinckney received just 14.

How did Hamilton impact the United States?

Hamilton had made a big impact on the United States. He had created a national bank and influenced many government policies. Newspapers throughout the nation reported his death. Most people accepted the news calmly. To them, it was simply the sad end to an old, private dispute.

What did Jefferson's presidency aim to do?

Joseph Ellis says that in many ways, Jefferson’s presidency aimed to make the federal government almost invisible and to limit the president’s power. “And the Louisiana Purchase is the most authoritative executive action in American presidential history. One president decides to buy the Midwest.

Which country controlled the Louisiana Territory?

In the treaty, Spain gave France control of a large area in North America called the Louisiana Territory. The Louisiana Territory stretched north-to-south from the Gulf of Mexico to Canada. And, it stretched east-to-west from the Mississippi River to the Rocky Mountains.

Who proposed the Louisiana Purchase?

Jefferson first proposed the exploratory expedition even before Napoleon offered to sell France’s American territory, which would become known as the Louisiana Purchase, to the United States and had authorization from Congress to launch a survey of the area when news of Napoleon’s offer to sell reached Washington.

What was the name of the team that surveyed the territory that comprised the Louisiana Purchase?

The team, which Jefferson called the Corps of Discovery, first surveyed the territory that comprised the Louisiana Purchase, a vast expanse that reached as far north as present-day North Dakota, south to the Gulf of Mexico and stopped at the eastern border of Spanish territory in present-day Texas.

How much did Thomas Jefferson get from Congress?

Jefferson officially asked for $2,500 in funding from Congress, though some sources indicate the expedition ultimately cost closer to $50,000.

Why did Jefferson send Lewis on his mission?

Though he did not disclose his intentions to Congress, Jefferson planned to send Meriwether Lewis, his private secretary, on a reconnaissance mission that far exceeded the boundaries of the Louisiana Purchase to determine how far west the U.S. might extend commerce in the North American fur trade and to assess the viability of future territorial expansion into the west. In misleading Congress, Jefferson had temporarily stifled his distaste for an abuse of executive privilege to achieve a strategic goal. A product of the Enlightenment, Jefferson was a man with strong political principles, but he was also fascinated by what the expedition might yield in terms of scientific discovery and adventure. Jefferson sought to claim more territory for the United States, eliminate foreign competition and convert the Indian nations to Christianity, viewing westward expansion as a way for the nation to maintain its agrarian values and to ward off the same political perils that plagued what he saw as an increasingly overcrowded Europe.

Overview

Domestic opposition and constitutionality

Background

Negotiation

Formal transfers and initial organization

Financing

Boundaries

Slavery