The 1803 acquisition of the Louisiana Territory by the United States from France for $15 million.
The act of borrowing money to fund a project, purchase, or business operation.
The total amount of money owed by a government.
The total amount of money in circulation within an economy.
Third President of the United States, who orchestrated the Louisiana Purchase.
Secretary of the Treasury under Jefferson, who played a key role in financing the purchase.
The mass migration of people to California that began in 1848 following the discovery of gold at Sutter's Mill.
The popular nickname for the prospectors who flooded into California during the peak of the Gold Rush migration in 1849.
The total amount of money in circulation in an economy. The Gold Rush caused a massive increase in the global money supply.
A monetary system where a country's currency value is directly linked to a fixed quantity of gold. The influx of California gold was a key factor in solidifying this system in the 19th century.
The basic physical and organizational structures needed for the operation of an economy. The San Francisco Mint was a crucial piece of financial infrastructure.
A general increase in prices and fall in the purchasing value of money, which was a direct consequence of the new supply of gold.
The U.S. Secretary of State who orchestrated the purchase of Alaska from Russia in 1867.
The popular, derogatory nickname for the Alaska Purchase, reflecting the widespread belief at the time that it was a foolish and wasteful expenditure.
Raw materials derived from the earth (such as gold, oil, timber, and fish) that can be a source of immense wealth. The bet on these resources was the core of Seward's investment thesis.
An investment made not just for immediate financial return, but to achieve a long-term geopolitical or competitive advantage.
An investment strategy that goes against prevailing market sentiment.
A powerful U.S. senator who was the chairman of the Senate Finance Committee during this period.
The treaty that ended the Spanish-American War. While a political document, its stipulation that the U.S. pay Spain $20 million for the Philippines had major financial consequences for the United States.
Taxes imposed on imported goods, which were a primary source of U.S. government revenue and were used to finance the new territorial acquisitions.
The total amount of money in circulation within an economy.
A monetary system where a country's currency has a value directly linked to a fixed quantity of gold.
The President of the United States who championed the construction of the Panama Canal.
The management of a state's money to fund projects for the public good, like the Panama Canal.
Government spending on large-scale physical projects like canals, roads, and bridges.
A form of debt issued by a government to finance its spending. These were used to fund the canal's construction.
Fees charged for the use of a piece of transportation infrastructure, such as a canal or bridge.
An investment made not just for immediate financial return, but to achieve a long-term geopolitical or competitive advantage.
A powerful U.S. senator who was a key architect of the plan for the Federal Reserve.
The U.S. President who signed the Federal Reserve Act of 1913 into law.
The U.S. legislation that created the Federal Reserve, the central banking system of the United States.
A national bank that manages a country's money supply, provides financial services to the government and other banks, and acts as a lender of last resort.
The most critical function of a central bank during a financial panic: providing emergency liquidity to solvent but cash-strapped financial institutions to prevent a systemic collapse.
The total amount of money in circulation in an economy. One of the Fed's primary roles is to manage this.
A country that has lent more money to other countries than it has borrowed from them. After WWI, the U.S. became the world's largest creditor nation.
Debt securities issued by the U.S. Treasury to finance the American war effort during World War I.
A monetary system where a country's currency is linked to a fixed quantity of gold. The U.S. remaining on the gold standard while European nations suspended it was a key factor in its financial rise.
The President of the United States during World War I.
The U.S. Secretary of the Treasury who managed the financing of the war effort.
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