Did USA pay for the Lousiana Purchase in Gold Bars, Coins, Currency, or what when payments were made?
The American government used bonds to pay France for the purchase. Because of the impending war with Britain, French banks would not buy or market the American bonds. The American diplomats Livingston and Monroe therefore recommended the firms of Baring and Company of London and Hope and Company of Amsterdam for the transaction which France agreed upon. Because of their reputation as the two most stable financial houses in Europe and because Napoleon wanted to receive his money as quickly as possible, the French treasury minister Barbé-Marbois made arrangements with the two firms to convert the bonds France would receive into cash. After the American bonds had been delivered, the French government then sold them to Baring and Hope at a discount. Also, part of the 60 million Francs (approximately $15 million) sale price was used to forgive debts owed by France to the United States. In the end, France received $8,831,250 in cash for the sale. The original sales document of the Louisiana
The American government used bonds to pay France for the purchase. Because of the impending war with Britain, French banks would not buy or market the American bonds. The American diplomats Livingston and Monroe therefore recommended the firms of Baring and Company of London and Hope and Company of Amsterdam for the transaction which France agreed upon. Because of their reputation as the two most stable financial houses in Europe and because Napoleon wanted to receive his money as quickly as possible, the French treasury minister Barbé-Marbois made arrangements with the two firms to convert the bonds France would receive into cash. After the American bonds had been delivered, the French government then sold them to Baring and Hope at a discount. Also, part of the 60 million Francs (approximately $15 million) sale price was used to forgive debts owed by France to the United States. In the end, France received $8,831,250 in cash for the sale. The original sales document of the Louisiana
