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Seward's Icebox was a nickname given to Alaska after Secretary of State William Henry Seward bought it from Russia. The purchase was also nicknamed "Seward's Folly".
That would be Alaska.
Russia
Nothing "folly"about the U.S. buying Alaska and all its great natural resources! Pretty great deal in my estimation!
Before the gold rush (the discovery of gold in Alaska and other parts of the U.S.), Alaska was considered worthless. When Secretary of State William Seward negotiated the sale of Alaska to The U.S. from the Russia Empire in 1867, Alaska was called "Seward's Icepick" because it was just a frozen wasteland to most Americans. Alaska was an unofficial US territory and didn't become a state until the 1950's so when the gold rush happened in the 1890's, not many non-native people were in Alaska. The discovery of gold brought money and people to Alaska. The people needed food from farmers. The farmers grew food and then sold it to the people. Because Alaska is very cold, there is not much farming. In the places where crops can be grown, the growing season is only 100 days long. The days, however are longer than normal, so the 100 days are productive.