Chapter 4: Economics

Homestead Act of 1862

gave any adult citizen or intended citizen the right to claim 160 acres of public land in the American West if they lived on it, built a home, and cultivated the land for five years. After five years, they could acquire the title for a small fee, or they could purchase the land after six months for $1.25 per acre. The act aimed to develop the West and spur economic growth by granting millions of acres to individual settlers

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