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. For roughly 4 cents an acre, the United States doubled its size, expanding the nation westward.
Robert Livingston and James Monroe closed on the sweetest real estate deal of the millennium when they signed the Louisiana Purchase Treaty in Paris on April 30, 1803. They were authorized to pay France up to $10 million for the port of New Orleans and the Floridas. When offered the entire territory of Louisiana—an area larger that Great Britain, France, Germany, Italy, Spain and Portugal combined—the American negotiators swiftly agreed to a price of $15 million.
Although President Thomas Jefferson was a strict interpreter of the Constitution who wondered if the U.S. Government was authorized to acquire new territory, he was also a visionary who dreamed of an “empire for liberty” that would stretch across the entire continent. As Napoleon threatened to take back the offer, Jefferson squelched whatever doubts he had and prepared to occupy a land of unimaginable riches.
The Louisiana Purchase Agreement is made up of the Treaty of Cession and the two conventions regarding the financial aspects of the transaction.
(Information excerpted from Stacey Bredhoff, American Originals [Seattle: The University of Washington Press, 2001], p. 26.)
The three documents transcribed here are the treaty of cession and two conventions, one for the payment of 60 million francs ($11,250,000), the other for claims American citizens had made against France for 20 million francs ($3,750,000).
Source: National Archives and Records Administration http://www.archives.gov/exhibit_hall/american_originals/louistxt.html