In 1867, the United States made a surprising deal that many people at the time thought was a huge mistake. Secretary of State William H. Seward arranged to buy Alaska from Russia for $7.2 million—just about two cents an acre. Many made fun of the purchase, calling it “Seward’s Folly” and “Seward’s Icebox,” since they believed Alaska was just a frozen, useless land.
However, that opinion quickly changed.
A few decades later, gold was discovered in the 1890s, starting the Klondike Gold Rush. This brought a flood of fortune seekers and a lot of attention to Alaska. In the years that followed, large supplies of oil and natural gas were also found, turning what was once mocked into a smart and valuable move for the U.S.
Besides its natural resources, Alaska also became important for the military. During World War II and the Cold War, its location made it a key place for defense. Even today, its closeness to Russia and the Arctic makes it vital for national security.
Alaska is also known for its amazing natural beauty. It has tall mountains, huge glaciers, and lots of wildlife. People from around the world visit to see its untouched landscapes, watch the Northern Lights, and learn about its Native cultures.
What was once seen as a waste of money is now thought to be one of the smartest land deals in U.S. history. Alaska’s transformation from “Seward’s Folly” to a key part of the country shows that some of the best decisions just take time to be fully understood.