USA HISTORY

Detailed explanation-1: -Skeptics had dubbed the purchase of Alaska “Seward’s Folly, ” but the former Secretary of State was vindicated when a major gold deposit was discovered in the Yukon in 1896, and Alaska became the gateway to the Klondike gold fields.

Detailed explanation-2: -Public opinion of the purchase turned more favorable when gold was discovered in Nome, Alaska, in 1899, sparking a gold rush. Alaska became the 49th state on January 3, 1959, and is now recognized for its vast natural resources. Today, 25 percent of America’s oil and over 50 percent of its seafood come from Alaska.

Detailed explanation-3: -Gold was not the only valuable natural resource that encouraged migration to Alaska. Silver, copper, oil, coal, and other minerals were plentiful, and Alaska was rich in timber, fish and other marine and wildlife.

Detailed explanation-4: -On March 30, 1867, the United States reached an agreement to purchase Alaska from Russia for a price of $7.2 million. The Treaty with Russia was negotiated and signed by Secretary of State William Seward and Russian Minister to the United States Edouard de Stoeckl.

Detailed explanation-5: -In Alaska, the Americans foresaw a potential for gold, fur and fisheries, as well as more trade with China and Japan. The Americans worried that England might try to establish a presence in the territory, and the acquisition of Alaska – it was believed – would help the U.S. become a Pacific power.