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Mistake: Russia sold Alaskan gold to the U.S. Alaska had been considered a burden, rather than an asset, by Russia for a long time.So, when William Seward, U.S. Secretary of State, began negotiations on his own initiative, he expected to encounter some opposition.However, the purchase of a seemingly desolate and mostly frozen land was greeted with criticism by the press and the public.It was remote, indefensible, and of little benefit.
Mistake: Russia sold Alaskan gold to the U.S.
Alaska had been considered a burden, rather than an asset, by Russia for a long
time. It was remote, indefensible, and of little benefit. So, when William Seward, U.S.
Secretary of State, began negotiations on his own initiative, he expected to encounter
some opposition. However, the outline of the deal was accepted by the cabinet and
the agreement was signed in March 1867, transferring Alaska to the United States
for a payment of $7.2 million. However, the purchase of a seemingly desolate and
mostly frozen land was greeted with criticism by the press and the public. Alaska
was referred to as "Seward's Folly," "Seward's Icebox," or President Johnson's "polar
bear garden," attitudes that must have changed drastically after the discovery of gold.
Russia should have investigated potential resources before selling the land to the U.S.
at the price of about 1.7 cents per acre.
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