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Monroe, Livingston, and Barbe-Marbois agree on terms of sale: $15 million for approximately 827,000 square miles of territory. Britain declares war on France. Purchase is officially announced in United States. U.S. Senate ratifies purchase treaty.

Vaguely defined at the time as the western watershed of the Mississippi River, and later pegged at about 827,000 square miles, the acquisition nearly doubled the national domain for a mere $15 million, or roughly $309 million in today's dollars.

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. For roughly 4 cents an acre, the United States doubled its size, expanding the nation westward.

The U.S., under Jefferson, bought the Louisiana territory from France, under the rule of Napoleon, in 1803. The U.S. paid $15 million for the Louisiana Purchase, and Napoleon gave up his empire in North America. The U.S. gained control of Mississippi trade route and doubled its size.

On October 20, 1803, the Senate approved for ratification a treaty with France by which the United States purchased the Louisiana Territory.

On March 10, 1804, France officially transferred its claim to the Louisiana Territory to the United States. President Thomas Jefferson had acquiredpurchasedthe Louisiana Territory almost a year earlier, for the price of about $15 million (about $342 million in 2020, adjusted for inflation).

Defining the purchase For this vast domain the United States agreed to pay $11,250,000 outright and assumed claims of its citizens against France in the amount of $3,750,000. Interest payments incidental to the final settlement made the total price $27,267,622.

You'd arrive at more than $51 billion 1973 dollars, or more than a quarter trillion today. Even at $2.6 billion for all of itor $8.5 billion, adjusted for inflationthe Louisiana Purchase remains an unbelievable steal.

The total of $15 million is equivalent to about $323 million in 2020 dollars, or 61 cents per acre.

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Louisiana Percentage Exchange Agreement

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