Seward’s Folly : The Alaska Deal
Seward had dreamed of purchasing Alaska from Russia and the deal had faced great opposition from all corners of the USA at that time.
William Henry Seward was the Secretary of State in the cabinet of Abraham Lincoln’s successor, Andrew Johnson. He was the key negotiator in the deal for Alaska. Alaska was bought by America from Russia for US $ 72000000, which workwd out at about two cents an acre. The deal was finalized in 1867. Despite very strong opposition, both public and political, Seward exhibited firm determination to see the deal through. Nobody at that time could understand clearly what Seward could foresee and the deal was labeled ‘Sewrad’s Folly’ or ‘Seawrd’s Icebox’.
What most people considered a deal void of wisdom, proved to be a gold mine in a few years for America. America made great fortunes in Alaskan fur and oil-fields. The gains were huge compared to what America had paid for Alaska. Alaska became 49th state of America in 1959.
Seward had also dreamed of purchasing Virgin Islands from Denmark at the same time but due to large public opposition the idea was dropped. Later, in 1917, America acquired Virgin Islands.
Seward died in 1872.
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