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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 ...
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]
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.
The area, which had been demarcated by the Treaty of 1818, consisted of the land north of 42° N latitude, south of 54°40′ N latitude, and west of the Rocky Mountains down to the Pacific Ocean and east to the Continental Divide. Article III of the 1818 treaty gave joint control to both nations for ten years, allowed land to be claimed, and ...
The Relief Act of 1821, passed February, 16, 1821, [1] was a United States federal law to provide additional financial relief for the purchasers of Public Lands, prior to the effective date of the Land Act of 1820. The 1820 law had ended public land purchases on credit installments, but also lowered both the size and cost requirements of new ...
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 first of 362 district land offices was opened at Steubenville, Ohio, on July 2, 1800; the last at Newcastle, Wyoming, on March 1, 1920. The peak year for land offices was 1890, with 123 in operation. The subsequent closing of the public domain gradually reduced the number of land offices, until, in 1933, only 25 offices remained. [3]
Major events in the western movement of the U.S. population were the Homestead Act, a law by which, for a nominal price, a settler was given title to 160 acres (65 ha) of land to farm; the opening of the Oregon Territory to settlement; the Texas Revolution; the opening of the Oregon Trail; the Mormon Emigration to Utah in 1846–47; the ...