Day-by-Day / April 29, 1803

April 29, 1803

The price for Louisiana

In Paris, France, the Louisiana Purchase negotiators settle on a price—80 million francs (about 15 million dollars) plus payment of French debts worth about 20 million francs (3.75 million dollars). This is twice as much as Napoleon originally desired.

From the journal of James Monroe:

We called on Mr. Marbois the 29th. and gave him our project which we read to him & discussed. We proposed to offer 50. millions to France & 20. on acct. of her debt to the citizens of the U States, making 70. in the whole.

On reading that article he declared that he would not proceed in the negotiation on a less sum than 80. Millions, since it would be useless as the Consul had been sufficiently explicit on that point

. . . . .

we agreed to accede to his idea & give 80. millions.[1]Stanislaus Murray Hamilton, ed. The Writings of James Monroe, Vol IV, 1803–1806 (New York: G. P. Putman’s Sons, 1900), 14; digitized by Google Books and available at archive.org.

 

Notes

Notes
1 Stanislaus Murray Hamilton, ed. The Writings of James Monroe, Vol IV, 1803–1806 (New York: G. P. Putman’s Sons, 1900), 14; digitized by Google Books and available at archive.org.
2 Robert R. Livingston to Thomas Jefferson, Founders Online, National Archives, founders.archives.gov/documents/Jefferson/01-40-02-0224 accessed 1 June 2022. [Original source: The Papers of Thomas Jefferson, vol. 40, 4 March–10 July 1803, ed. Barbara B. Oberg. Princeton: Princeton University Press, 2013, pp. 301–304n.]

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