PRESIDENT ANDREW JACKSON - LAND GRANT SIGNED 12/01/1831 CO-SIGNED BY: ELIJAH HAYWARD - HFSID 50377
Sale Price $1,615.00
President Jackson signs an 1831 land grant, granting 158 acres.
Partly Printed DS: "Andrew Jackson" as President, 1p, 15x9½. On vellum. Washington, 1831 December 1.Countersigned: "Elijah Hayward" as Commissioner of the General Land Office. In part: "Whereas Mary Bonner of Wilcox County has deposited in the General Land Office of the United States a certificate of the Register of the Land Office at Cahaba...according to the provisions of the Act of Congress of the 24th of April 1820 entitled 'An act making further provision for the sale of the Public Lands' for the North East quarter of Section One in Township Eleven of Range Nine, in the District of Lands subject to Sale at Cahaba, Alabama, Containing One Hundred and Fifty Eight Acres and eighty hundredths...." The Land Act of April 24, 1820 abolished the credit system that enabled settlers to make deferred payment on their land and reduced the per acre purchase price from $2 to $1.25 with the entire amount to be paid at the time of purchase. The smallest purchasable unit of land was fixed at 80 acres. Alabama became the 22nd state on December 14, 1819 and was entered as a free state. Issues of granting land would eventually haunt Jackson, because the excessive speculation and abuses associated with it during his two terms, resulted in Jackson's Specie Circular in 1837. The circular required government agencies to accept only gold and silver for payment for public lands. The order shocked the Western states because speculators there had been buying land with "cheap" paper money. The circular ended land speculation, but inflationary conditions at the end of Jackson's presidency brought on the economic panic that struck shortly before his term ended. Creased. Pinhead-size file holes run along 2 vertical folds touching some text. Vertical fold touches "n" in Andrew. Lightly nicked, worn edges. ¾-inch separation at blank lower vertical fold. 2 nail head-size holes at lower left blank area. Full, 2¼-inch paper seal. Fine, 6½-inch bold signature of Jackson.
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