The Phelps and Gorham Purchase was the purchase in 1788 of the pre-emptive right to some 6,000,000 acres (24,000 km2) of land in western New York State for $1,000,000 (equivalent to $20,000,000,000 in 2005). The purchase involved all the land in New York west of Seneca Lake between Lake Ontario and the Pennsylvania border. The purchasers were Oliver Phelps and Nathaniel Gorham, both of Massachusetts, and the seller was the Commonwealth of Massachusetts. In some discussions of this subject, the Phelps and Gorham Purchase refers only to the 2,250,000 acres (9,100 km2) upon which Phelps and Gorham extinguished aboriginal title. Although Phelps and Gorham purchased pre-emptive rights to all 6,000,000 acres, they were only able to extinguish aboriginal rights—and obtain clear title—to the portion east of the Genesee River.
Read more about Phelps And Gorham Purchase: Treaty of Hartford, Council At Buffalo Creek, Default
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