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Seward convinced the United States Senate to approve the purchase of about 600,000 square miles (1,600,000 km²) from Russia for $7,200,000 on April 9th, 1867 (the treaty was signed on March 30). The Senate approved the purchase by just one vote. The treaty was negotiated with Baron Eduard de Stoeckl , Russian minister to the United States. For comparison, $7.2 million in 1867 is equivalent to about $86.7 million in 2002 dollars.

The purchase was at the time derided as Seward's folly, Seward's icebox, and President Andrew Johnson's polar bear garden, because it was believed foolhardy to spend so much money on the remote outpost. However, Seward's icebox eventually paid off in 1896, when gold was discovered by the KlondikeThe Klondike is a region of the Yukon Territory in northwest Canada, just east of the Alaska border. It lies around the Klondike River, a small stream that enters the Yukon River from the east at Dawson. The Klondike is famed in part because of the Klondi River, setting off the massive Klondike Gold RushThe Klondike Gold Rush was a frenzy of immigration to and gold prospecting in the Klondike in Yukon Territory, Canada, after gold was discovered in the late 19th century. On August 16, 1896, rich placer gold deposits were discovered by George Carmack in B in Alaska. Alaska has proven to be abundant with natural resources such as petroleumNodding donkey pumping an oil well near Sarnia, Ontario, 2001 Petroleum (from Latin petrus rock and oleum oil), mineral oil or crude oil sometimes colloquially called black gold is a thick, dark brown or greenish flammable liquid, which exists in the uppe, natural gasNatural gas is a gas produced by the anaerobic decay of organic material. It is usually found in oil fields and natural gas fields, but is also generated in swamps and marshes (where it is called swamp gas or marsh gas , in landfill sites, and during dige, coalCoal is a fossil fuel extracted from the ground by mining. It is a readily combustible black or brownish-black sedimentary rock. It is composed primarily of carbon and hydrocarbons, along with assorted other elements, including sulfur. Often associated wi, timberTimber is a term used to describe clusters of trees. It is also used to describe wood throughout its processing from the time it is cut down to the time it is used as a structural material. The word timber is also used as an exclamation when a tree falls., and salmonThis article is about the fish. For the color, see salmon (color). Salmon is the common name for several species of fish of the Salmonidae family. Several other fishes in the family are called trout. Salmon live in both the Atlantic and Pacific Oceans.. However, an analysis of the cash flow from the investment compared with the net present value of its purchase price suggests the money could have been invested better elsewhere. [1]

The formal transfer of Alaska from the ownership of Russia to the United States took place on October 18October 18 is the 291st day of the year (292nd in Leap years). There are 74 days remaining. Events 1009 The Church of the Holy Sepulchre, a Christian church in Jerusalem, is completely destroyed by the "mad" Fatimid caliph Al-Hakim bi-Amr Allah, who hacke, 1867 ( Alaska Day.)

Currently, Alaska celebrates the purchase on Seward's Day , the last Monday of March.