Purchase of over 2 million square kilometres of land from France (Napoleon) in 1803 by the Jefferson administration.
US paid $15 million for the land as well as to settle outstanding debts to France, incurred during the war of independence. Payment was carried out via the Barings Bank in London.
Land encompassed territory between the Mississippi river and the Rocky mountains, covering what are now the states of: Mississippi, Alabama, Missouri, Kansas, Arkansas, Nebraska, Wyoming, Montana, Oklahoma, Colorado and Louisiana.
Jefferson’s reasons to purchase
Port of New Orleans was crucial to American trade. Commerce between the South and the North could take place via the Mississippi river or Gulf of Mexico and the eastern sea board. Jefferson was keen to wrest control of this territory from French and Spanish jurisdiction and sent James Monroe and Robert Livingstone to Paris.
Napoleon’s reasons to sell
France seemed likely to lose the war in Saint Domingue. The slave uprising, led by Toussaint L’overture, was in its final stages with France set to lose it’s major source of resources in the Caribbean. Without raw materials from the slave colony, a French colony in Louisiana was no longer worth keeping.
Napoleon also planned to invade Britain and needed the money to fund what would be the first Napoleonic War.
Quotes
“We have lived long but this is the noblest work of our lives…”
Robert Stevenson
“This accession of territory affirms forever the power of the United States, and I have given England a maritime rival who sooner or later will humble her pride”
Napoleon