The West had plenty of attractions: the alluvial river bottoms, the fecund soils of the rolling forest lands, the black loams of the prairies were tempting to New England farmers working their rocky, sterile land and to southeastern farmers plagued with soil depletion and erosion. In 1820 under a new land law, a farm could be bought for $100. The continued proliferation of banks made it easier for those without cash to negotiate loans in paper money. Western Farmers borrowed with the confident expectation that the expanding economy would keep farm prices high, thus making it easy to repay loans when they fell due.