Seward’s Folly: The $7.2 Million Deal

Picture this: it’s 1867, and the United States is still stitching itself back together after the Civil War. Enter William Seward, the sharp-eyed Secretary of State with a wild hunch. He inks a deal with Russia to snap up Alaska—a sprawling, icy wilderness—for a cool $7.2 million. That’s about two cents an acre for 586,412 square miles of rugged frontier. The public? They laughed. The press? They dubbed it “Seward’s Folly,” a colossal waste of cash on a frozen nowhere. Oh, how wrong they were.

Fast forward a few decades, and this punchline of a purchase turns into a jackpot. Gold glitters in Alaska’s streams during the Klondike rush, drawing fortune-seekers like moths to a flame. Then, in the 20th century, black gold—oil—gushes from the ground, proving Seward wasn’t just a dreamer but a downright prophet. That “useless” land? It’s now a treasure chest of resources, not to mention a jaw-dropping expanse of natural beauty that’s since become a national brag.

Seward’s gamble, finalized on March 30, 1867 (yep, 158 years ago today!), added a chunk of territory bigger than Texas and California combined to the U.S. map. Mocked at the time, it’s now hailed as one of history’s savviest real estate flips. From folly to fortune, Alaska’s story is a reminder: sometimes the biggest laughs come before the biggest wins. 17GEN4.com