|$10 million in 1853 was not chump change - in today's dollars this is about half a trillion dollars! |
A lot of money for a chunk of god-forsaken desert.
U.S. Minister to Mexico James Gadsden, and three envoys of the President of Mexico General Antonio López de Santa Anna Pérez de Lebrón, signed the Gadsden Purchase, or Gadsden Treaty, in Mexico City on December 30, 1853. Santa Anna needed money to help defray expenses caused by the Mexican War and ongoing rebellions, so he sold land to the United States.
The treaty, amended and finally approved by the U.S. Senate on April 25, 1854, settled the dispute over the exact location of the Mexican border west of El Paso, Texas, giving the U.S. claim to some 29,600 square miles of land, ultimately for the price of $10 million. The land is what is now southern New Mexico and Arizona.
$10 illion in 1853 was not chump change - in today's dollars this is about half a trillion dollars! A lot of money for a small strip of god-forsaken desert.