Financing the Louisiana Purchase

A British bank took a chance on providing the money.

In 1800, Napoleon pressured Spain to cede Louisiana back to France. Then in 1803, he sold it to U. S. for $15 million–800,000 square miles for three cents an acre. It was the greatest real estate deal in world history. Barings Bank of England financed the purchase despite the fact that England was at war with France and the money would be used by Napoleon in the conflict. England figured the fledging U.S. would falter and they would be there to pick up the pieces.