The Louisiana Purchase was an agreement between the United States and France, made in 1803, for the acquisition of the vast territory, stretching from the Mississippi River to the Rocky Mountains. This monumental land deal doubled the size of the then young American nation.
Acquisition details:
To gain control of this large swath of land:
• The United States made a direct payment of approximately 15 million dollars to France.
• Additionally, the agreement absolved France's public debt with the United States, amounting to about another 3.75 million dollars, effectively canceling a pre-existing obligation on which no repayment had been made by France to that point.