USA HISTORY

Detailed explanation-1: -The Louisiana Purchase has been described as the greatest real estate deal in history. In 1803 the United States paid France $15 million for the Louisiana Territory–828, 000 square miles of land west of the Mississippi River.

Detailed explanation-2: -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.

Detailed explanation-3: -Acquisition of Louisiana was a long-term goal of President Thomas Jefferson, who was especially eager to gain control of the crucial Mississippi River port of New Orleans.

Detailed explanation-4: -But despite landing Louisiana for less than three cents an acre, the price was more than the United States could afford. As a result, it was forced to borrow from two European banks at 6 percent interest.

Detailed explanation-5: -It’s believed that the failure of France to put down a slave revolution in Haiti, the impending war with Great Britain and probable British naval blockade of France – combined with French economic difficulties – may have prompted Napoleon to offer Louisiana for sale to the United States.