The Realty Time Capsule: 1809 – Creation of the Ilinois Territory

Introduction: 

While 1808 was a relatively uneventful year when compared to other periods, it still contributed to the development of American real estate. For our 1809 Realty Time Capsule, we will be looking at the events that happened in the country that impacted American real estate. 

Three Key Points  

1. Illinois Territory Created: On March 1, 1809, the territory of Illinois was created. The territory covered what is now known as the states of Illinois, Wisconsin, and parts of Minnesota and Michigan. For its capital, the village of Kaskaskia along the Mississippi River was chosen. 

The area covered by the territory was part of French Canada then Britain gained control of it. During the American Revolution, Virginia took over the land and later ceded it to the federal government. The land then became part of the Northwest and Indiana Territories until Congress passed the law that created the Illinois Territory. In a few years, the territory would become a state.  

2. The Steamboat Is Patented: In what is the most important technological development for transportation up to that point, Robert Fulton patented the steamboat. Fulton was present at the famous demonstration of the Charlotte Dundas in Glasgow. He was intrigued with the potential of the new mode of transportation.  

He started the first passenger service for steamboats in America with the Clermont, which carried passengers along the Hudson. In 1809, Fulton received a patent for his steam engine and another one in 1811. 

 The steamboat would be a major development for transportation in the United States as it became a key component of river shipping. 

 3. Supreme Court Decision: On February 20, 1809, the Supreme Court of the United States ruled that the power of the Federal government was greater than any of the individual states. United States vs. Peters was a landmark decision for the United States, that would change how the government works.

The decision meant that individuals and businesses could count on the federal government as the supreme arbiter when it comes to legal matters. 

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 Headline Real Estate News Stories In 1809 

 The creation of the Illinois Territory was the main real estate news for 1809. The new territory would become a magnet for settlers as news about it spread. 

 What Historic Real Estate Events Shaped 1808?  

There were a lot of historic events that helped to shape 1809. For example, the formation of the Northwest Territory was part of the development of the Illinois Territory because the latter was derived from the former. The development of the steamboats was a long process that took decades. It took a long time before a powerful and reliable steam engine could be placed on a water-going vessel and have it run reliably. 

Economic Factors, Supply, and Demand  

The Non-Intercourse Act was passed this year to replace the Embargo Act, but it proved to be even more unenforceable. It was aimed at damaging French and British economies, but it proved ineffective simply because it could not be enforced. 

Government Policies and Interventions

The legislation creating the Illinois Territory was the government intervention that had the most impact on American real estate in 1809. Creating a territory was the next step toward establishing a new state. That attracted new settlers to the land since they knew that once the territory became a state, the land there would become even more valuable.

Demographic Factors

There was no major shift in the demographic by 1809. While immigrants were coming in from Europe, that was a trickle compared to the inflow that it would become in the coming decades.

Societal Preferences and Trends

There was still a strong leaning towards independence and self-reliance in America by 1809. People preferred to live on small farms where they produced most of what they needed.

Technological Innovations

The development of the steamboat was a major one for transportation and the progress of the real estate market in the United States. The cutting down of travel time between the areas of the country meant that more people would be willing to live in the territories.

Environmental Factors

Land condition is always a major factor that settlers consider when choosing a place where they can establish their roots. Because most of the settlers are farmers looking for land that they can cultivate, they are always on the lookout for rich agricultural land. What is amazing is that by 1809, the richest agricultural areas of the United States were not part of the country yet.

Cultural Factors

The American drive for independence and self-reliance was strong in 1809. This cultural factor is what drives many settlers to venture into the uncertainties presented by the new territories.

Closing This Capsule

1809 was another instrumental year for the development of American real estate. Hopefully, this Time Capsule was able to present that in a comprehensive way. For the next Realty Time Capsule, we will be looking at the events that shook the real estate market of the United States for the next decade, from 1810 to 1819.

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

History of Illinois:

Robert Fulton