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Up that number into the trillions ...

quote:
However, the unfulfilled promise of 40 acres per family also provides a means to gauge themagnitude of reparations owed to the descendants of those enslaved. A conservative estimate ofthe price of land in the USA in 1865 would be $10 per acre (Mital and Powell). An allocation of40 acres to a family of four would imply 10 acres per person, hence a value of $100 per ex-slavein 1865. If we also take as a conservative estimate of the total number of ex-slaves who hadattained emancipation at the close of the Civil War of as 4 million persons, 40 million acres of landvalued at $400 million should have been distributed to the ex-slaves in 1865. The present valueof that sum of money compounded from 1865 at 6 percent (5 percent for interest earned and onepercent as an inflation adjustment) would amount to more than $1.3 trillion. If there areapproximately 30 million descendants of enslaved Africans in the USA today, the estimate based upon forty acres, yields an allocation of slightly more than $400,000 per recipient

http://72.14.253.104/search?q=cache:z5jjD-ddHKoJ:www.ig...n&ct=clnk&cd=1&gl=us


However, in researching this in came across the fudge factor that would/could be used to significantly reduce this number ...

quote:
the Freedman's Bureau Act of March 3, 1865, pursuant to the Southernland confiscation acts of 1861, 1862, 1863, and 1864, had an explicit racial land redistributionprovision. Again, "not more than 40 acres" of land was to be provided to refugee or freedman malecitizens at three years annual rent not exceeding 6 percent of the value of the land based uponappraisal of the state tax authorities in 1860. At the end of the three years the occupants couldpurchase the land and receive title. Similar provisions were included in the postwar Southern Homestead Act of 1866; freedmen were to receive land in the Southern states at a price of $5 for 80 acres


So the Field Order was not a grant of land [and a mule]; but rather, an opportunity to rent then purchase the land, if one had the money to do either, a non-defined amount of land Eek

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