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Yazoo Land Fraud
Occurred in 1795 when Augusta was Georgia’s Capital
Augusta
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Yazoo Land Fraud was Georgia’sworst political scandal
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At this time Georgia’s boundaries extended to the Mississippi River
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Yazoo Land Fraud
Creek, Cherokee, & other tribeslived in the land to the west
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If the tribes could be persuaded to leave, then there could be a land rush in Ga.
land rush = greater populationGreater population = greater profits as
land is sold5
Land speculators (businessmen who had formed land companies) wanted to buy
large portions of Ga.’s western territory
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Yazoo Land Fraud
Note: Land speculation is legal (buying land at low prices, holding
it until Prices rise, and then selling it for profit)
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Land speculation is illegal when done by gov’t officials who are
looking to benefit rather than looking out for the best interest of citizens
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Four private companies (land speculators)
bribed many members of Ga.’s General Assembly to pass a law
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Yazoo Land FraudThis law allowed the companies to
buy 35 million acres of Ga.’s western territory – extending to
the Yazoo River
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Land sold at LOW prices(less than two cents per acre)
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Companies made HUGE profits when they sold the land
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Yazoo Land FraudGeorgians learned of the
Yazoo Land Fraud & becameangry, then many of
the dishonest legislatorsFled the state
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Georgia’s capital moved to Louisville in 1796
Louisville14
The next year (1796) a newly electedlegislature repealed (abolished) thelaw authorizing the Yazoo Land sale
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Yazoo Land Fraud
Ga. Legislature directed the Yazoo Actbe burned on the statehouse grounds –
all copies were destroyed
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Ga. Legislature provided for refund of money to buyers – many weren’t
willing to give up their bargain
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The Yazoo Land Fraud went to theSupreme Court in 1814 – Federal Gov’t
paid off remaining claims
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