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Robert Livingston and James Monroe closed on the sweetest real estate deal of the millennium when they signed the Louisiana Purchase Treaty in Paris on April 30, 1803. They were authorized to pay France up to $10 million for the port of New Orleans and the Floridas.
Unauthorized use is prohibited. Louisiana is bordered by Arkansas in the north, Mississippi and the Gulf of Mexico in the east, the Gulf of Mexico in the south, and Texas in the west.
Although eager to accept this vast territory, Thomas Jefferson also advocated a strict construction of the Constitution, and nowhere in the Constitution could he find authorization for the government to purchase new territory.
On October 20, 1803, the Senate ratified a treaty with France, promoted by President Thomas Jefferson, that doubled the size of the United States.
Jefferson tasked James Monroe and Robert R. Livingston with purchasing New Orleans. Negotiating with French Treasury Minister Francois Barbe-Marbois, the U.S. representatives quickly agreed to purchase the entire territory of Louisiana after it was offered.
One of the greatest explorations in American history followed the Louisiana Purchase, when Jefferson dispatched Meriwether Lewis and William Clark to lead a band of soldiers, mountain men, natives, and a slave to tour the new territory.
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.
The Louisiana Purchase encompassed 530,000,000 acres of territory in North America that the United States purchased from France in 1803 for $15 million.