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  • 9 hours ago
Russia sold Alaska to the United States for $7.2 million—and many Americans thought it was a terrible deal. In 1867, with Alaska costly to maintain and Russia wary of a possible British attack, Secretary of State William Seward saw an opportunity to expand US territory and made the purchase.

The decision was mocked as “Seward’s Folly,” but gold discoveries followed just 13 years later. This quick history story explores the Alaska Purchase, Russia’s reasons for selling, and how the territory’s gold, oil, and natural gas came to be valued at more than $2 trillion.

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Transcript
00:00This is how Russia tricked the United States into buying Alaska.
00:04Back in 1741, Russian explorers were the first one to claim Alaska, which they used for selling fur.
00:10However, in 1867, Alaska was costing too much to maintain, and with Russia scared that the British might attack, they
00:17had to quickly sell it.
00:18Meanwhile, a U.S. secretary named William Seward was looking for ways to grow the U.S. territory when he
00:24heard Alaska was for sale.
00:25When he came there, he offered Russians $7.2 million, which they immediately accepted.
00:30However, when the Americans heard about this, they were furious, mocking Seward for his stupid purchase.
00:36But just 13 years later, major gold deposits were found in Alaska, which, along with oil and natural gas, today
00:42sit at more than $2 trillion.

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