Yazoo Land Fraud
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The Virginia Yazoo Company (headed by
Patrick Henry), the Tennesse Company and the Carolina Company apply for land
grants from the state of Georgia |
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First Yazoo Land Act becomes law granting
5,000,000 acres of vacant land to three companies |
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President Washington expresses his
disapproval of the actions of Patrick Henry and others in the First Yazoo Act
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"..it would be right and proper to sell
a part of the western territory of this State during the present
session." With these words began the Yazoo Land Fraud |
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Several men threaten the governor of Georgia
to make it unpleasant for him if he does not sign the Yazoo Act. Governor
Mathews does not listen |
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Gov. George Mathews returns the Yazoo Act to
the state legislature questioning the amount of money the state is to recieve
and encouraging more participation of Georgia citizens |
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Amended version of the Yazoo Act passed by
the Georgia House |
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Amended version of the Yazoo Act passed by
the Georgia Senate |
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Governor George Mathews signs into law a
bill that agrees to sell almost 40 million acres to speculators at the
starting the Yazoo Land Fraud. This corrupt deal led to the downfall of many
popular politicians of the day. |
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President George Washington, speaking about
the Yazoo Land Act states "...These acts embrace an object of such
magnitude and in their consequences may so deeply affect the peace and
welfare of the United States..." |
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The U. S. Congress denounces the Yazoo Land
Act |
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The Georgia Union Company is added to the
Yazoo Act |
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Responding to public pressure, almost all
legislators who profited from the Yazoo Land Act are removed from office.
U.S. Senator James Jackson, now a member of the state legislature, convenes
the so-called "Reform Legislature" |
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Report of the Yazoo Land Fraud presented to
the Reform Legislature |
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Gov. Irwin signs a bill rescinding the Yazoo
Land Act. It will take 6 years and a landmark Supreme Court ruling for the
state to settle claims resulting from this legislation |
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Act rescinding the Yazoo Land Act becomes
law |
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U. S. Congress authorizes three
commissioners to negotiate with Georgia for the cession of all or part of the
lands encompassed by the Yazoo Land Act of 1795 |
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Georgia cedes the land involved in the Yazoo
Land Fraud (and the associated legal problems) to the United States. In
exchange the state receives 1.25 million dollars and the promise of removal of
the Cherokee Indians from the present-day boundaries of the state. President
Thomas Jefferson announces the cession of Yazoo Act lands to the U. S.
government |
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Chief Justice John Marshall in Fletcher vs.
Peck renders Peck's title to land purchased during the Yazoo Land Fraud as
valid |
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Settlement for Yazoo Land Fraud claims is
complete, with the government spending almost 4.3 million dollars to pay the
claimants |