The North West Ordinance of 1787 was significant as it established a framework for governance and statehood for the territories north of the Ohio River. It provided a systematic method for admitting new states into the Union, ensuring that they would have equal standing with the original states. Additionally, it included provisions for civil liberties and education, while also setting a precedent for the prohibition of slavery in the Northwest Territory. This legislation was crucial in shaping the future of the U.S., promoting orderly expansion, and addressing contentious issues like slavery in new territories.