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XIV of France had at one time actually granted that unexplored region to a private citizen, M. Crosat, who, in consideration of the grant, was to pay to the king one-fifth of the gold and silver annually which it should yield. This was by far the most munificent grant of public domain ever made by a sovereign to a subject; but after a few years search for the precious metals Crosat, discouraged by failure, regarded the possessions worthless and relinquished them to the crown. A few years later the same tract was granted to the famous John Law, who used it to inaugurate one of the most gigantic real estate speculations ever devised. After its collapse, the grant was again relinquished.
This treaty, which had been negotiated on the part of the United States by Robert R. Livingston, minister plenipotentiary, and James Monroe, envoy extraordinary, was ratified by the Senate on the 19th of October, 1803, and, by act of the 31st of October, President Jefferson was authorized by Congress to take possession of and occupy the country. On the 20th of December possession was taken by the Government at New Orleans through Governor William C. C. Claiborne, who had been appointed by the President.
Our new possessions proved to be of greater value than all the territory conquered and held by Napoleon during his brilliant and unscrupulous wars of conquest in Europe and Africa. No such acquisition of valuable territory was ever before made peaceably by any nation in the world's history. The industrial, commercial, political and geographical importance of this region were colossal and inestimable. It rounded out our territorial possessions, opened up the inland water route to the sea and at one step lifted the young Republic into rank and power with the first nations of the earth.
The accompanying map shows on the extreme east the territory embraced in the thirteen original States which in 1776 declared their independence from British rule
