681. Purchase of Alaska
In December, 1866, the U.S. offered to take Alaska from Russia. Russia was eager to give it up, as the fur resources had been exhausted, and, expecting friction with Great Britain, they preferred to see defenseless Alaska in U.S. hands. Called "Seward's Folly" and "Seward's Icebox", the purchase was made in 1867 for $7,200,000 and gave the U.S. Alaska's resources of fish, timber, oil and gold.