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The Land Act of 1820 (ch. 51, 3 Stat. 566), enacted April 24, 1820, is the United States federal law that ended the ability to purchase the United States' public domain lands on a credit or installment system over four years, as previously established. The new law became effective July 1, 1820 and required full payment at the time of purchase ...
Maintenance of high public land prices to generate federal revenue; Preservation of the Bank of the United States to stabilize the currency and rein in risky state and local banks; Development of a system of internal improvements (such as roads and canals) which would knit the nation together and be financed by the tariff and land sales.
The high birth rate, and the availability of cheap land caused the rapid expansion of population. The average age was under 20, with children everywhere. The population grew from 5.3 million people in 1800, living on 865,000 square miles of land to 9.6 million in 1820 on 1,749,000 square miles.
April 24 – The Land Act of 1820 reduces the price of land in the Northwest Territory and Missouri Territory encouraging Americans to settle in the west. July 20 – Thomas Bibb is sworn in as the second governor of Alabama, following the death of William W. Bibb.
By 1820, over 250,000 bales (of 500 pounds each) were exported to Europe, with a value of $22 million. By 1840, exports reached 1.5 million bales valued at $64 million, two thirds of all American exports. Cotton prices kept going up as the South remained the main supplier in the world. In 1860, the US shipped 3.5 million bales worth $192 million.
Ophir (/ ˈ oʊ f ər /; [1] Hebrew: אוֹפִיר, Modern: ʼŌfīr, Tiberian: ʼŌp̄īr) is a port or region mentioned in the Bible, famous for its wealth.Its existence is attested to by an inscribed pottery shard found at Tell Qasile (in modern-day Tel Aviv) in 1946, dating to the eighth century BC, [2] [3] which reads "gold of Ophir to/for Beth-Horon [...] 30 shekels".
[91] [95] [96] Through public land debt relief legislation, Cheves managed to reduce the bank's land debt by $6 million within a year of assuming his position as BUS President. Specie was also replenished to a great extent, increasing from $2.5 million in 1819 to $3.4 million by 1820 and further rising to $8 million by 1821.
In 1830, he signed the Indian Removal Act, by which he offered Native Americans land in unsettled areas west of the Mississippi River, in exchange for their lands in existing states. While some tribes accepted this solution, others resisted. [2] By this time, the Cherokee Nation had been mostly pushed west and south out of South Carolina into ...