4 cents an acre

On this date in 1803, the United States Senate ratified the Louisiana Purchase Treaty by a vote of twenty-four to seven.

The First Consul of the French Republic desiring to give to the United States a strong proof of his friendship doth hereby cede to the United States in the name of the French Republic for ever and in full Sovereignty the said territory with all its rights and appurtenances as fully and in the Same manner as they have been acquired by the French Republic in virtue of the above mentioned Treaty concluded with his Catholic Majesty [Spain].

France had lost control of Louisiana to Spain at the end of the French and Indian War (1763). In the Treaty of San Ildefonso (1800), Spain ceded the territory back to France (along with six warships) in exchange for the creation of a kingdom in north-central Italy for the Queen of Spain’s brother. Napoleon promised never to sell or alienate the property. His promise was good for about 10 months.

The purchase included 828,000 square miles — all or parts of the modern states of Louisiana, Arkansas, Missouri, Iowa, Minnesota, North Dakota, South Dakota, Nebraska, Kansas, Oklahoma, Colorado, Wyoming and Montana.

With interest the total cost was $23.5 million, or about 4 cents an acre.