The most important event of the early part of the nineteenth century was the purchase of Louisiana from the French. This enormous territory had been lost to England after the French and Indian war; it embraced the whole Mississippi Valley, and extended indefinitely westward. In 1762 it was transferred to Spain, although open possession was not given until 1769. In 1763 Great Britain had obtained, by treaty, that portion lying east of the Mississippi. In 1783, of course, this came into possession of the United States. All the territory west, and on the east from the 31st parallel to the Gulf, remained in the hands of Spain. The importance of having the free use of the river as a channel of transportation to the sea was early felt. This necessity was intensified as settlements increased and the Spanish authorities began to manifest a hostile policy. In 1800 Spain gave back to France the province of Louisiana. It was some time before the transaction became known, but the moment it was made public Jefferson saw that our troubles with France were not an end. The day she took possession the old friendship, long strained, would come to an end, and war seemed near, for in 1802 came the news that an expedition was preparing to cross to Louisiana. Meanwhile the navigation of the river was closed to American citizens; all trade was forbidden them, and the right of deposit at New Orleans was taken away. Protected by this right, traders of Kentucky and Ohio had been accustomed to float tobacco, flour, etc., down the river and store them in warehouses to await the arrival of sloops or scows to carry them to their ports. By the treaty of 1795 some convenient place must always be open for these goods, and when New Orleans was closed there was no other place. Jefferson’s plan was to buy so much territory on the east hank of the river as would settle forever the question of the use of its mouth. Although vigorously opposed by the Federalists in Congress, who wished to declare war against Spain, Jefferson’s proposal was acted upon, and James Monroe was sent over to act with the ministers to France and Spain in the matter of the purchase. Talleyrand hindered the matter as much as possible, and Livingston finally was obliged to break over the bonds of diplomatic etiquette and address himself directly to the First Consul. Napoleon agreed to sell, not part but all; the first price asked was one hundred and twenty-five million francs, and the final price agreed upon was eighty millions. Jefferson, although only authorized to spend two million dollars, accepted the treaty, summoned Congress, and urged it to perfect the purchase. Fifteen million dollars seemed an enormous sum for the people to assume to pay, and the old Federalists fought the measure hotly, but in the end the treaty was ratified by Congress. On November 10th the act creating the eleven million two hundred and fifty thousand dollars’ worth of stock called