Many thought it was an error and had no future value for the US.
In 1867, the United States purchased Alaska from Russia, a transaction known as "Seward's Folly" after Secretary of State William H. Seward, who orchestrated the deal. The purchase, finalized on October 18, 1867, expanded U.S. territory significantly and was seen as a strategic move, despite initial public skepticism. The acquisition paved the way for Alaska's eventual statehood and its rich natural resources.
there were rumors of extensive oil deposits in the territory.
In 1867, public opinion regarding the purchase of Alaska was largely negative, with many viewing it as "Seward's Folly," reflecting skepticism about acquiring a vast, seemingly barren territory. Critics questioned the financial wisdom of the $7.2 million deal, perceiving it as an extravagant expenditure. In contrast, historians today recognize the strategic significance and vast natural resources of Alaska, viewing the purchase as a pivotal moment that expanded U.S. territory and influence. This retrospective appreciation highlights the foresight of leaders like Secretary of State William H. Seward, who championed the acquisition.
Journalists referred to the Alaska purchase of 1867 as "Seward's Folly" because they viewed it as a misguided and reckless acquisition of territory. Many critics believed that the barren, icy land was worthless and questioned Secretary of State William H. Seward's judgment in negotiating the $7.2 million deal with Russia. The term reflected the skepticism of the time, as the public was largely unaware of the vast natural resources and strategic importance Alaska would later prove to have. Over time, however, the purchase came to be seen as a savvy move, contributing significantly to the United States' expansion and resource wealth.
Because most Americans considered it to have been a waste of money.
In his "Irrepressible Conflict" speech, William Seward addresses both the American public and political leaders of his time, urging them to confront the issue of slavery head-on. He argues that the conflict between freedom and slavery is fundamental and cannot be avoided. Seward aims to rally support for the abolitionist cause, emphasizing the moral imperative to end slavery and the inevitability of conflict if the issue remains unresolved.
Journalists referred to the Alaska purchase of 1867 as "Seward's Folly" or "Seward's Icebox" because they viewed the acquisition as a costly mistake, given the territory's perceived barrenness and lack of immediate value. Many critics believed that the vast, frozen land was not worth the $7.2 million price tag. However, over time, Alaska proved to be rich in natural resources, including oil and gold, ultimately validating the purchase and shifting public perception.
Public opinion about the purchase of Alaska shifted significantly due to several factors. Initially viewed as "Seward's Folly," skepticism arose over the $7.2 million price tag and the perceived barrenness of the land. However, discoveries of natural resources, such as gold, oil, and fisheries, along with strategic military importance, eventually showcased Alaska's value. The increasing understanding of its economic potential helped transform public sentiment into support for the acquisition.
William S. Roberts has written: 'Availability of land for mineral exploration and development in southeastern Alaska, 1984' -- subject(s): Mineral lands, Public lands
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William Dunbar Public School was created in 1987.