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11-13-08_Lecture_Notes - Economics 323 Today Walton(147-60...

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Economics 323 (11-13-08) Today: Walton (147-60), Gates 8,9,13,15, David Tues: Faragher, Walton (13), Thurs: Walton (10), Temin (iron), Temin (steam) Land privatization- govt sell off of land quickly- and do so where transfer is orderly and conveys sounds title System of land laws begins in 1785 under the articles Changes: concerning terms of land auction, warrant system (reward system), preemption (squatters can acquire the land on which they have squatted). Number of problems- government didn’t make money, corruption in the land system, some of the provisions were inefficient (opt size farm) Internal migration: Old states into the northwest and the southwest of the late 18 th century and early 19 th century Everyone was in one way or any other involved or affected by the land business People moving west caused an increase in wages in the east Farm businesses destroyed Mountain ranges are a substantial obstacle and thus very expensive to move Few good migration routes Going up the Mississippi was very expensive
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