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Bank, which agreed, along with several other banks, to make the actual purchase and pay Napoleon cash. The bank then turned over ownership of the Louisiana Territory to the United States in return for bonds, which were repaid over 15 years at 6 percent interest, making the final purchase price around $27 million.

In 1803 President Thomas Jefferson sent to the Senate a treaty purchasing the Louisiana Territory from France. The Senate approved the treaty for ratification on October 20, 1803.

Napoleon decided to give up his plans for Louisiana, and offered a surprised Monroe and Livingston the entire territory of Louisiana for $15 million. Although this far exceeded their instructions from President Jefferson, they agreed. When news of the sale reached the United States, the West was elated.

Louisiana Purchase Treaty, April 30, 1803 (ARC ID 299807); General Records of the U.S. Government; Record Group 11; National Archives. In this transaction with France, signed on April 30, 1803, the United States purchased 828,000 square miles of land west of the Mississippi River for $15 million.

As a result of this treaty, the nation doubled in size, adding territory that would become the states of Louisiana, Arkansas, Missouri, Iowa, Oklahoma, Kansas, Nebraska, North Dakota, South Dakota, and parts of Minnesota, New Mexico, Montana, Wyoming, and Colorado.

Napoleon decided to give up his plans for Louisiana, and offered a surprised Monroe and Livingston the entire territory of Louisiana for $15 million. Although this far exceeded their instructions from President Jefferson, they agreed. When news of the sale reached the United States, the West was elated.