Did USA pay for the Lousiana Purchase in Gold Bars, Coins, Currency, or what when payments were made?

Similar questions: USA pay Lousiana Purchase Gold Bars Coins Currency payments made.

Bonds The American government used bonds to pay France for the purchase. Because of the impending war with Britain, French banks would not buy or market the American bonds. The American diplomats Livingston and Monroe therefore recommended the firms of Baring and Company of London and Hope and Company of Amsterdam for the transaction which France agreed upon.

Because of their reputation as the two most stable financial houses in Europe and because Napoleon wanted to receive his money as quickly as possible, the French treasury minister Barbé-Marbois made arrangements with the two firms to convert the bonds France would receive into cash. After the American bonds had been delivered, the French government then sold them to Baring and Hope at a discount. Also, part of the 60 million Francs (approximately $15 million) sale price was used to forgive debts owed by France to the United States.In the end, France received $8,831,250 in cash for the sale.

The original sales document of the Louisiana purchase was exhibited in the entrance hall of Baring's London offices until the bank's collapse in 1995. Sources: http://en.wikipedia.org/wiki/Lousiana_Purchase#Financing .

They paid in Francs Note: 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). THE LOUISIANA PURCHASETRANSCRIPTIONSTREATY BETWEENTHE UNITED STATES OF AMERICAAND THE FRENCH REPUBLICThe President of the United States of America and the First Consul of the French Republic in the name of the French People desiring to remove all Source of misunderstanding relative to objects of discussion mentioned in the Second and fifth articles o f the Convention of the 8th Vendé miaire an 9/30 September 1800 relative to the rights claimed by the United States in virtue of the Treaty concluded at Madrid the 27 of October 1795, between s Catholic Majesty & the Said United States, & willing to Strengthen the union and friendship which at the time of the Said Convention was happily reestablished between the two nations have respectively named their Plenipotentiaries to wit The President of the United States, by and with the advice and consent o f the Senate of the Said States; Robert R. Livingston Minister Plenipotentiary of the United States and James Monroe Minister Plenipotentiary and Envoy extraordinary of the Said States near the Government of the French Republic; And the First Consul in th e name of the French people, Citizen Francis Barbé Marbois Minister of the public treasury who after having respectively exchanged their full powers have agreed to the following Articles.

Article IWhereas by the Article the third of the Treaty concluded at St Ildefonso the 9th Vendé miaire an 9/1st October 1800 between the First Consul of the French Republic and his Catholic Majesty it was agreed as follows. "s Catholic Majesty promises and engages on his part to cede to the French Republic six months after the full and entire execution of the conditions and Stipulations herein relative to his Royal ghness the Duke of Parma, the Colony or Province of Louisiana with the Same extent that it now has in the hand of Spain, & that it had when France possessed it; and Such as it Should be after the Treaties subsequently entered into between Spain and other States. "And whereas in pursuance of the Treaty and particularly of the third article the French Republic has an incontestible title to the domain and to the possession of the said Territory--The First Consul of the French Republic desiring to give to the Unit ed 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 bee n acquired by the French Republic in virtue of the above mentioned Treaty concluded with his Catholic Majesty.

Art: IIIn the cession made by the preceeding article are included the adjacent Islands belonging to Louisiana all public lots and Squares, vacant lands and all public buildings, fortifications, barracks and other edifices which are not private property. --The Archives, papers & documents relative to the domain and Sovereignty of Louisiana and its dependances will be left in the possession of the Commissaries of the United States, and copies will be afterwards given in due form to the Magistrates and Municipal officers of such of the said papers and documents as may be necessary to them. Art: IIIThe inhabitants of the ceded territory shall be incorporated in the Union of the United States and admitted as soon as possible according to the principles of the federal Constitution to the enjoyment of all these rights, advantages and immunities of citizens of the United States, and in the mean time they shall be maintained and protected in the free enjoyment of their liberty, property and the Religion which they profess.

Art: IVThere Shall be Sent by the Government of France a Commissary to Louisiana to the end that he do every act necessary as well to receive from the Officers of his Catholic Majesty the Said country and its dependances in the name of the French Republic if it has not been already done as to transmit it in the name of the French Republic to the Commissary or agent of the United States. Art: VImmediately after the ratification of the present Treaty by the President of the United States and in case that of the first Consul's shall have been previously obtained, the commissary of the French Republic shall remit all military posts of New Orl eans and other parts of the ceded territory to the Commissary or Commissaries named by the President to take possession--the troops whether of France or Spain who may be there shall cease to occupy any military post from the time of taking possession and shall be embarked as soon as possible in the course of three months after the ratification of this treaty. Art: VIThe United States promise to execute Such treaties and articles as may have been agreed between Spain and the tribes and nations of Indians until by mutual consent of the United States and the said tribes or nations other Suitable articles Shall have been agreed upon.

Art: VIIAs it is reciprocally advantageous to the commerce of France and the United States to encourage the communication of both nations for a limited time in the country ceded by the present treaty until general arrangements relative to commerce of both nat ions may be agreed on; it has been agreed between the contracting parties that the French Ships coming directly from France or any of her colonies loaded only with the produce and manufactures of France or her Said Colonies; and the Ships of Spain coming directly from Spain or any of her colonies loaded only with the produce or manufactures of Spain or her Colonies shall be admitted during the Space of twelve years in the Port of New-Orleans and in all other legal ports-of-entry within the ceded territory in the Same manner as the Ships of the United States coming directly from France or Spain or any of their Colonies without being Subject to any other or greater duty on merchandize or other or greater tonnage than that paid by the citizens of the United. States. During that Space of time above mentioned no other nation Shall have a right to the Same privileges in the Ports of the ceded territory--the twelve years Shall commence three months after the exchange of ratifications if it Shall take place in France or three months after it Shall have been notified at Paris to the French Government if it Shall take place in the United States; It is however well understood that the object of the above article is to favour the manufactures, Commerce, freight and naviga tion of France and of Spain So far as relates to the importations that the French and Spanish Shall make into the Said Ports of the United States without in any Sort affecting the regulations that the United States may make concerning the exportation of t he produce and merchandize of the United States, or any right they may have to make Such regulations.

Art: VIIIIn future and for ever after the expiration of the twelve years, the Ships of France shall be treated upon the footing of the most favoured nations in the ports above mentioned. Art: IX The particular Convention Signed this day by the respective Ministers, having for its object to provide for the payment of debts due to the Citizens of the United States by the French Republic prior to the 30th Sept. 1800 (8th Vendé miaire an 9) is approved and to have its execution in the Same manner as if it had been inserted in this present treaty, and it Shall be ratified in the same form and in the Same time So that the one Shall not be ratified distinct from the other.

Another particular Convention Signed at the Same date as the present treaty relative to a definitive rule between the contracting parties is in the like manner approved and will be ratified in the Same form, and in the Same time and jointly. Art: XThe present treaty Shall be ratified in good and due form and the ratifications Shall be exchanged in the Space of Six months after the date of the Signature by the Ministers Plenipotentiary or Sooner if possible. In faith whereof the respective Plenipotentiaries have Signed these articles in the French and English languages; declaring nevertheless that the present Treaty was originally agreed to in the French language; and have thereunto affixed their Seals.

Done at Paris the tenth day of Floreal in the eleventh year of the French Republic; and the 30th of April 1803. Robt R Livingston seal Jas. Monroe seal Barbé Marbois seal-------------------------------------------------------------------------------- Sources: http://www.archives.gov/exhibits/american_originals/louistxt.html .

From A CONVENTION BETWEEN THE UNITED STATES OF AMERICA AND THE FRENCH REPUBLIC Art: II For the payment of the Sum of Sixty millions of francs mentioned in the preceeding article the United States shall create a Stock of eleven millions, two hundred and fifty thousand Dollars bearing an interest of Six per cent: per annum payable half y early in London Amsterdam or Paris amounting by the half year to three hundred and thirty Seven thousand five hundred Dollars, according to the proportions which Shall be determined by the french Govenment to be paid at either place: The principal of the Said Stock to be reimbursed at the treasury of the United States in annual payments of not less than three millions of Dollars each; of which the first payment Shall commence fifteen years after the date of the exchange of ratifications:--this Stock Shall be transferred to the government of France or to Such person or persons as Shall be authorized to receive it in three months at most after the exchange of ratifications of this treaty and after Louisiana Shall be taken possession of the name of the Government of the United States. It is further agreed that if the french Government Should be desirous of disposing of the Said Stock to receive the capital in Europe at Shorter terms that its measures for that purpose Shall be taken So as to favour in the greatest degree possible the credit of the United States, and to raise to the highest price the Said Stock. Sources: http://www.pbs.org/weta/thewest/resources/archives/one/louispur.htm Preacher's Recommendations The Louisiana Purchase (Cornerstones of Freedom) Amazon List Price: $5.95 Used from: $2.53 The Louisiana Purchase Amazon List Price: $19.95 Used from: $0.90 Average Customer Rating: 4.0 out of 5 (based on 6 reviews) The Louisiana Purchase and American Expansion, 1803-1898 Amazon List Price: $29.95 Used from: $31.45 .

We paid in silver. I believe that at the time we had a lot of silver and this was used in the Lousiana Purchase.

1 Fly-fisherman, regarding your answer "We paid in silver. ":Thanks for the answer but the USA had very little money at that time. The only revenue USA earned was from tarrifs.

USA did make payments ahead of schedule, but since there was no real paper money then and very few gold coins at that time, I am trying to figure out what consideration moved from the USA to France. Actually, Napolean discounted the ("Stock" like a Note) to the Baring Brothers & Hope Company. That investment bank paid Napolean $8,800,000 USD + or - in Francs for the stock.

There were multiple Agreements made for this transaction and there was no big transfer of cash. I am tryong to find out precisely how payments were made. Silver, Gold, What?

Seems really hard to find out. Thanks for your answer but I don't think it was silver. And even if some was silver and some gold, I would like to know how much and what size were the bars and where were they shipped, etc.

Fly-fisherman, regarding your answer "We paid in silver. ":Thanks for the answer but the USA had very little money at that time. The only revenue USA earned was from tarrifs.

USA did make payments ahead of schedule, but since there was no real paper money then and very few gold coins at that time, I am trying to figure out what consideration moved from the USA to France. Actually, Napolean discounted the ("Stock" like a Note) to the Baring Brothers & Hope Company. That investment bank paid Napolean $8,800,000 USD + or - in Francs for the stock.

There were multiple Agreements made for this transaction and there was no big transfer of cash. I am tryong to find out precisely how payments were made. Silver, Gold, What?

Seems really hard to find out. Thanks for your answer but I don't think it was silver. And even if some was silver and some gold, I would like to know how much and what size were the bars and where were they shipped, etc.

I cant really gove you an answer,but what I can give you is a way to a solution, that is you have to find the anglde that you relate to or peaks your interest. A good paper is one that people get drawn into because it reaches them ln some way.As for me WW11 to me, I think of the holocaust and the effect it had on the survivors, their families and those who stood by and did nothing until it was too late.