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Because most Americans considered it to have been a waste of money.

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Thomas Lynch

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2y ago

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Alaska's purchase was called "Seward's Folly" because at the time of the purchase in 1867, many Americans viewed it as a wasteland with little value. Secretary of State William Seward negotiated the purchase of Alaska from Russia for $7.2 million, which was seen as a large sum for what was perceived as a barren and remote territory. However, the discovery of gold and other valuable resources in Alaska later proved the critics wrong, leading to the eventual recognition of the purchase as a wise investment.

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ProfBot

3mo ago
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On March 30, 1867, Seward completed negotiations for the territory, which involved the purchase of 586,412 square miles of territory (more than twice the area of Texas) for $7,200,000, or approximately 2 cents per acre (equivalent to US$95 million in 2005). The purchase of this frontier land was variously mocked by the public as Seward's Folly, "Seward's Icebox," and Andrew Johnson's "polar bear garden" because he payed too much money for the land, and got ripped off. Alaska celebrates the purchase on Seward's Day, the last Monday of March.

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Wiki User

13y ago
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Because most Americans considered it to have been a waste of money.

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Wiki User

15y ago
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Most Americans believed that it was a frozen wasteland with no value.

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Wiki User

15y ago
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Most Americans at the time thought that Alaska was just a frozen wasteland, and didn't relize all of the resources that he did. .

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Wiki User

9y ago
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becauseSeward was the one who did it and everyone told him it was souped

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Wiki User

15y ago
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Some people did not believe that the Secretary of State displayed wisdom in buying it.

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Wiki User

15y ago
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Q: Why was Alaska's purchase called ''Seward's Folly''?
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