"No 40 Acres and a Mule for Blacks
In 1862, Union Brigadier General Rufus B. Saxton, a West Point Cavalry soldier and late-blooming abolionist, was appointed military governor for blacks on southern plantations. Saxton pressed vigorously for the sale of land exclusively to blacks who would be allowed to buy their homesteads from the government at nominal prices and make payments in modest installments.
But a faction within the government, led by the U.S. Treasury Department's tax commissioner, was strongly opposed to Saxton's plan. Behind the tax commissioner was an array of northern land speculators who conspired to control and personally profit from abandonded or tax-availble land in the South. Out of nearly 200 plantations in South Carolina, more than half of them went to northern white land speculators not to landless ex-slaves.
"Dirty Little Secrets" -- Dr. Claud Anderson, page 204