Minister Onís and Secretary Adams reached an agreement whereby Spain ceded East Florida to the United States and renounced all claim to West Florida. Per the Treaty of Adams-Onis (1819) and Transcontinental Treaty (1821), Spain received no compensation, but the United States agreed to assume liability for $5 million in damage done by American citizens who rebelled against Spain.
In Spain this event is celebrated as National Put-One-Over-on-the USA Day and homes all over the country display a red and yellow banner with the holiday slogan:
“Best Deal Ever!”
(There is a persistent rumor that Palmetto Bugs are not native to Florida but were imported by Spain as a going away gift in 1821)