On March 30, 1867, the United States agreed to purchase Alaska from Russia for $7.2 million. Secretary of State William H. Seward negotiated the deal. Many critics mocked the purchase as “Seward’s Folly,” believing the land to be useless ice and wilderness. Over time, Alaska proved to be rich in natural resources, including gold, oil, and fisheries. Its strategic location also became important in military planning. The purchase extended U.S. territory significantly and is now seen as a shrewd investment.
