This Day in Wall Street History 1845: Polk goes after Mexican territory

This day in 1845 saw President James Polk make a bold move to radically expand the burgeoning United States.

Polk gave Congressman John Slidell the go-ahead to settle a border dispute concerning Texas, as well as to purchase New Mexico and California, from Mexico.

As per Polk's demand, Slidell anted up $5 million for New Mexico and $25 million for California; however, Mexico refused the offer, emboldening the president to marshal a war effort in the name of "re-annexing" the territory.

Source: History.com