The Homestead Act, signed into law by Abraham Lincoln in 1862, made millions of acres of government land (in tracts of 160 acres) available to any male over 21 who could pay the processing fee of $18. To make ownership of the tract permanent, an owner was required to live on the land and build it up for a period of no less than 5 years. The Homestead Act helped to distribute wealth evenly among a working populace and created an economic, agricultural, and social stability that fueled American growth and prosperity for decades. It is considered by many historians to be the single most important piece of legislation in American history.