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The Yazoo Land Scandal: Speculation, Fraud, and Corruption


The Yazoo land fraud was a historic scheme in U.S. history, where Georgia legislators were bribed in 1795 to sell most of the land that now makes up the state of Mississippi to four land companies for a low sum of $500,000. This deal, known as the Yazoo Act, caused outrage throughout the state and led to a turnover of legislators in the 1796 election. The new legislature rescinded the act and returned the money, but by then, the land had been resold to third parties who refused to give up their claim. The dispute between Georgia and the land companies continued into the 1800s until Georgia ceded its claim to the U.S. government in 1802.

The U.S. Supreme Court ultimately ruled in 1810 that the rescinding law was unconstitutional, leading to the government taking possession of the territory by 1814. Congress then awarded the claimants over $4,000,000 in compensation. The fraud was named after the Yazoo River, which flows through the region. This scandalous chapter in American history highlighted the dangers of corruption and bribery in government, ultimately resulting in significant legal battles and financial compensation for those affected by the fraudulent land deal.

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Photo credit www.britannica.com

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