Alaska Purchase: Seward's Folly

The Alaska Purchase, often referred to as 'Seward's Folly,' was the acquisition of Alaska from Russia in 1867 for $7. 2 million. At the time, many criticized Secretary of State William H. Seward for spending so much on what seemed like a barren and frozen wasteland.

However, the discovery of gold and other natural resources in Alaska later proved the purchase to be a strategic and valuable decision. This acquisition expanded the United States' territory and opened new opportunities for exploration and economic growth.