Yazoo Land Fraud
One of the most significant events during the post-revolutionary history of Georgia is the Yazoo land fraud , which had began in the year 1785 along with the organization of the Combined Society as well as the creation of the Bourbon County Georgia.
The organization of the Combined Society was a secret society during the previous years having the objective of "by means of certain influences brought to bear upon those in authority in obtaining large grants of land from Georgia whether for sale or immigration, and ending the making of large sum of money out of the transactions".
However, the organization of Combined Society had faded away after Georgia appointed judicial and civil officers for the Bourbon County resulting to the Bourbon County Act in the year 1788.
When the Combined Society had faded away, the evil lingered on.
Yazoo land fraud is one of the two episodes of Georgia history that are often misunderstood but frequently merged.
It was a massive fraud that was executed by several Georgia governors and state legislatures between the years of 1795 and 1803. This fraud involved selling of large portions of lands to insiders at very low prices.
It has something to do with the Pine Barrens speculation that occurred during that time as it involves some corrupt land deals in Georgia. The scandal of Yazoo land fraud had two chapters.
The first chapter was discussed in the first paragraph above that had began in the year 1785 while the second chapter began in the year 1789 when the three companies of the Tennessee Company, The Virginia Yazoo Company and The South Carolina Yazoo Company were built just to buy lands from the legislatures of Georgia.
However, the deal fell when the three companies above attempted to pay the amount in the old currency of Georgia .
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