May 20, 1862: President Abraham Lincoln signed the Homestead Act. The act provided settlers with 160 acres of surveyed public land after payment of a filing fee and five years of continuous residence. Designed to spur Western migration, the Homestead Act culminated a twenty-year battle to distribute public lands to citizens willing to farm. Concerned that free land would lower property values and reduce the cheap labor supply, Northern businessmen opposed the act. Unlikely allies, Southerners feared homesteaders would add their voices to the call for abolition of slavery. With Southerners out of the picture in 1862, the legislation finally passed.