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Updated: May 18, 2025
Large amounts of property went under the auctioneer's hammer, "to be sold without limit." Lots of land which cost two or three hundred dollars in '56, were sold at auction in '58 for five or six dollars each. Thousands of people lost their all in these unfortunate land-speculations. Others who survived the crash have clung to their acres, hoping that prosperity may return to the Northwest.
I shall not fall into an abyss, or dash myself upon a rock. If we fail to sever the Union, and do not succeed in the conquest of Mexico, I have so masked our designs as to make them appear in the guise of innocent land-speculations on the Wachita river." Early in October Wilkinson's duties required him to visit the town of Genevive, some fifty miles south of St. Louis.
The history of that earliest of Western land-speculations is too well known to need repetition; suffice it to say, that it was conducted upon a scale of magnificence in comparison with which our modern imitations in 1836 and 1856 were feeble indeed.
We were just rubes and hicks and clodhoppers and hay-tossers in those days, and we weren't staying awake nights worrying about land-speculations and water-fronts and trying to make ourselves millionaires when we might have been making ourselves more at peace with our own souls.
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