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The Southern Homestead Act opened up 46,398,544.87 acres (about 46 million acres or 190,000 km 2) of public land for sale in the Southern states of Alabama, Arkansas, Florida, Louisiana, and Mississippi.
Given the $0.15 per pound production cost, this would reduce per acre profits by over 90%. As a result, farmland values collapsed: by 1819, prices fell to around $0.20 per acre, [3] and by 1820, Alabama land buyers collectively owed the federal government $21 million, $12 million of which was owed by Alabama itself. [7]
But to encourage more sales and make them more affordable, Congress also reduced both the minimum price (from $2.00 to $1.25 (equivalent to $27 in 2023 [1]) per acre ($495 to $309/km 2)) and the minimum size of a standard tract (from 160 to 80 acres (647,000 to 324,000 m 2)). The minimum full payment now amounted to $100, rather than $320. [2]
This is a list of plantations and/or plantation houses in the U.S. state of Alabama that are National Historic Landmarks, listed on the National Register of Historic Places, listed on the Alabama Register of Landmarks and Heritage, or are otherwise significant for their history, association with significant events or people, or their architecture and design.
The price of sale was $2.50 per acre ($618/km 2), and land was sold in 160 acre (0.6 km 2) blocks. [1] Land that was deemed "unfit for farming" was sold to any citizen of the United States, or any person intending to become a citizen who might want to "timber and stone" (logging and mining) upon the land.
The federal government issued 160-acre (65 ha) tracts for very cheap costs to about 400,000 families who settled new land under the Homestead Act of 1862. Even larger numbers purchased lands at very low interest from the new railroads, which were trying to create markets.
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Overton Farm is a historic farmhouse near Hodges, Alabama, United States. The farmstead was founded by Abner Overton, a traveling tobacco merchant from Raleigh, North Carolina . Overton purchased 160 acres (65 ha) in a bend of Bear Creek in 1817.
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