Realtor Income Exploration: Crowdsourced Funding for Agent Fees

Introduction:

The Louisiana Purchase was the biggest land acquisition for the United States, and it was a bargain. The United States government paid less than three cents per acre for the 828,000 square miles of land that was bought. For the Realty Time Capsule for the year 1804, we will be mainly looking at the efforts to assess the lands bought through exploration.

Three Key Points  

1. Orleans Territory Is Created: The Territory of Orleans was created on October 1, 1804. It will become the future state of Louisiana and was carved out from the Louisiana Purchase south of the 33rd Parallel.  The remainder of the land from the purchase became what is known as the District of Louisiana and then Louisiana Territory, which would eventually become the Missouri Territory when the state of Louisiana was created.  

2. Lewis and Clark Expedition: Shortly after the Louisiana Purchase, President Thomas Jefferson commissioned an expedition to journey into the newly acquired lands. The organized expedition was the Corps of Discovery Expedition, or the Lewis and Clark Expedition, after its leaders. The expedition’s goals were to explore and map the newly acquired lands, establish a route traversing the western half of the continent, and establish a presence there before other countries could. 

 The expedition also had secondary objectives. The team was tasked with studying the plants and animal life in the unexplored lands and making observations about its geography. They were also to establish trade with any Native American tribes that they might encounter. 

 The expedition was a necessary step if the country was going to take advantage of the newly acquired lands. By doubling the territory of the country, more settlers can come in, but they must know first if what they got in the bargain is actually good real estate. 

 In a way, the Louisiana Purchase was not the model of how a real estate transaction ought to be done. The United States basically paid for the land without even knowing what it was getting. Although it turned out to be the best real estate deal in history, there was no way of knowing it back then. 

 3. Treaty of St. Louis: On November 3, 1804, the United States government represented by William Henry Harrison and Sauk and Meskwaki tribes headed by Quashquame signed the Treaty of St. Louis. This treaty ceded the land owned by the tribes to the United States government.  

In exchange for the land, the tribes received $2234.50 and an annuity of $1000. The price paid for the lands was way below their actual value, and there is speculation that the tribal leaders did not understand the treaty they agreed to. While this meant additional land for the ever-growing United States it also planted the seeds of resentment among the Native American tribes involved as they felt cheated out of their lands. This became a factor in why the Sauk and Meskwaki sided with the British during the War of 1812. 

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Headline Real Estate News Stories in 1804 

 The Louisiana Purchase was still such big news for the country and people were eager to learn more about the new lands that had been acquired. This is why President Jefferson commissioned an expedition immediately to explore the purchase.  

 The Corps of Discovery was a huge success even though it failed to identify a Northwest Passage across the territory. The maps they produced and the information they brought about the areas they explored proved invaluable for the United States as it expanded. However, the Corps of Discovery was largely forgotten after they  

 What Historic Real Estate Events Shaped 1804?  

The historic events that resulted in the Louisiana Purchase are still affecting what was taking place in 1804. The desire of Napoleon to win back the overseas possessions of France and the Revolution in Haiti all played roles in what happened in 1804. Those events influenced France to sell its New World possessions. 

Economic Factors, Supply, and Demand  

The Lewis and Clark Expedition was mainly conducted for economic reasons. It was focused on finding a practical route across the western half of the continent and studying the plants, animals, and geography of the new area. The expedition would be able to open up the new land. 

Government Policies and Interventions  

The move to create the Orleans Territory was just the initial move to utilize the lands and resources that came with the Louisiana Purchase. The Treaty of St. Louis was another move by the government that year which had a significant impact although it would not have the desired effect as the years would later reveal. 

Demographic Factors  

With the Lewis and Clark Expedition, it would be later revealed that there are more tribes out in the newly acquired lands than previously thought. That would mean that there is no accurate measure of the actual population in the United States. 

Societal Preferences and Trends

 The societal preference back in 1804 was to live on a self-sufficient farm. Many of the settlers who came to the country then were individuals who did not have their land in Europe and came to the new continent with the hope that they that would get their own property in the United States. 

Technological Innovations  

Although it did not take place in the United States, it is worth noting that the first locomotive-hauled railway journey in the world took place in 1804. Richard Trevithick built a locomotive and used it to haul freight and people along the tramway of the Penydarren Ironworks, in Merthyr Tydfil, Wales. He did it to win a bet. The same concept would soon power the locomotives that would connect the United States. 

Cultural Factors 

The United States of 1804 was very rural. Compared to major European cities, cities in the United States were small and unsophisticated. Most Americans were farmers who were just interested in owning a farm and that is a significant reason for the development of the country. 

Transportation and Infrastructure    

There was no important development in terms of transportation in 1804. The towns and cities of the United States were still connected by horse and by foot. The acquisition of New Orleans would help river shipping but mostly transportation was still the same.

1804 was an exciting year for the United States. The Lewis and Clark Expedition would open much of the country to further exploration and new settlers. The expedition was the one that took stock of what came with the biggest real estate purchase in U.S. history. Watch out for the next Realty Time Capsule as we discuss 1805.

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

The Lewis and Clark Expedition