Realtor Income Exploration: Crowdsourced Funding for Agent Fees

Introduction:  

With the establishment of the Mississippi Territory in 1798, the country was bound for an expansion. For this Realty Time Capsule, we will be taking a closer look at the events in 1799 and how those impacted the United States and its real estate industry. 

Three Key Points

1. New York Moves to Abolish Slavery: When the Civil War started decades later, New York was one of the most prominent free states and was a bastion of abolitionists. However, in 1799, slavery was still very much present in the state. In that year, the state started to free future generations of those who otherwise would have been born into slavery. The law passed in 1799 stated that those born to slave mothers in New York would be free although the term “free” in this case, is not the same freedom as we understand it. 

Those born to slave mothers after 1799 will still be required to provide free labor to the masters of their mothers. Despite those shortcomings, it was still a great move towards emancipation. Slavery played an important role in the economy of the countries where it is present and so it had in some ways affected the real estate industry, although indirectly.                                               

2. Founding of Russian American Company: The Russian American Company Under the High Patronage of His Imperial Majesty was a chartered company under the Russian Empire that was tasked with establishing settlements in what was then known as Russian America, trading with locals, and starting efforts to colonize. 

Russian America consisted of Alaska, a settlement in Hawaii centered around Fort Ross, and three more forts in Hawaii. Back then, the Russian Empire was still serious about holding on to their North American possessions. 

 3. The Placing of Ellicote Stone: In April 1799, a survey party composed of Americans and Spaniards was out in the field. Andrew Ellicott headed the party. The party placed a boundary marker in Mobile, Alabama, named after the party leader. The survey was meant to establish the boundary between the Mississippi Territory and West Florida which was still a Spanish possession back then. 

 The stone is the initial point for U.S. Public Land surveys in the southern region of Alabama and Mississippi. Also, all townships in the area are numbered from the stone. 

---

Headline Real Estate News Stories in 1799 

The biggest headline news story of 1799 was the death of George Washington. The passing of the first president in his home in December of that year marked the end of an era and the beginning of a new one, an era full of uncertainties for the young country yet so full of hope. 

What Historic Real Estate Events Shaped 1799?  

The fur trade had a hand in shaping the events that happened in 1799, particularly the founding of the Russian American Company. When fur became so popular in Europe the demand for beaver went up that various countries with interests in North America began scrambling to get a hand in the trade. That includes Russia which had interests in the northern Pacific Coast. 

The American Revolution still had an impact on the country although its direct effects were starting to fade. The ending of that era was marked by the death of President George Washington. 

Economic Factors, Supply, and Demand  

In 1799, one of the first gold rushes that would take place in the United States started in North Carolina. The Carolina Gold Rush had its roots when a 12-year-old boy saw a gold nugget while playing in Meadow Creek in Cabarrus County, North Carolina. The family took the nugget but did not understand its value and for several years used it as a doorstop. When the father of the boy was told about the value of the “doorstop,” he immediately entered a partnership to start mining. They eventually found a 28-pound nugget and news of that discovery started the rush. 

The gold rush was not as big as the California gold rush, but it was still crucial in driving new settlers into the area and in perfecting the techniques that would be used later. 

Government Policies and Interventions  

The drive to impose taxes to fund the Quasi-War drove Dutch farmers to revolt in Pennsylvania. The Logan Act was also passed by Congress in the same year. The law seeks to prevent private citizens from negotiating with foreign powers. 

Demographic Factors  

The next census in the country will be taking place in the following year. That would show how the population of the country has grown. 

Societal Preferences and Trends 

The Fur Trade was directly influenced by the high demand for fur in Europe. During 1799, the British were the dominant force in the trade, but the lucrative trade also attracted Americans to take part. The trade was also crucial in driving explorers to look for new beaver haunts and routes. 

Technological Innovations  

Eli Whitney who had won a contract for American rifles the previous year was introduced to the French concept of interchangeable parts. This would influence American manufacturing for years to come. 

Environmental Factors  

This was the beginning of the era of the Mountain Men. These pioneers were trappers who spent their whole lives in the wilderness and were instrumental in exploring the vast unknown environment of North America. 

Transportation and Infrastructure    

There was no major development in the transportation sector of the United States. Horseback was still the main way of traveling between the states. Shipping was still being affected by this time by the ongoing Quasi War. 

Closing This Capsule

1799 was a sad year for the country as it saw the passing of President George Washington, but it was also a hope–filled year. For the next Time Capsule, we will look at the end of the 18th Century.  

---

For a deeper understanding and look into these topics check out these titles:

George Washington

Russian America

The Fur Trade