On-line Dictionary
Yazoo Fraud
Yazoo Fraud
The
grant
by
the
State
of
Georgia
, by
Act
of
Jan
. 7,
1795
, of 35,
000
,
000
acres
of
her
western
territory
,
for
$
500
,
000
, to
four
companies
known
as
the
Yazoo
Companies
from
the
region
granted
;
commonly
so
called
,
the
act
being
known
as
the
Yazoo
Frauds
Act
,
because
of
alleged
corruption
of
the
legislature
,
every
member
but
one
being
a
shareholder
in
one
or
more
of
the
companies
.
The
act
granting
the
land
was
repealed
in
1796
by a
new
legislature
,
and
the
repealing
provision
was
incorporated
in
the
State
constitution
in
1798
. In
1802
the
territory
was
ceded
to
the
United
States
.
The
claims
of
the
purchasers
,
whom
Georgia
had
refused
to
compensate
,
were
sustained
by
the
United
States
Supreme
Court
,
which
(
1810
)
declared
the
repealing
act
of
1796
unconstitutional
.
Congress
in
1814
ordered
the
lands
sold
and
appropriated
$5,
000
,
000
to
pay
the
claims
.
URL of this page:
http://www.kvadrata.net/yazoo%20fraud
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