James Gadsden, the U.S. minister to Mexico, and General Antonio Lopez de Santa Anna, the president of Mexico, sign the Gadsden Purchase in Mexico City. The treaty settled the dispute over the location of the Mexican border west of El Paso, Texas, and established the final boundaries of the southern United States. For the price of $15 million, later reduced to $10 million, the United States acquired approximately 30,000 square miles of land in what is now southern New Mexico and Arizona.