USA HISTORY

Detailed explanation-1: -The negotiations concluded after an all-night session with the signing of the treaty at 04:00 on March 30, 1867. The purchase price was set at $7.2 million ($140 million in 2021), or about 2 cents per acre ($4.74/km2).

Detailed explanation-2: -Edouard de Stoeckl, Russian minister to the United States, negotiated for the Russians. On March 30, 1867, the two parties agreed that the United States would pay Russia $7.2 million for the territory of Alaska. For less that 2 cents an acre, the United States acquired nearly 600, 000 square miles.

Detailed explanation-3: -Russia wanted to sell its Alaska territory, which was remote and difficult to defend, to the U.S. rather than risk losing it in battle with a rival such as Great Britain. Negotiations between Seward (1801-1872) and the Russian minister to the U.S., Eduard de Stoeckl, began in March 1867.

Detailed explanation-4: -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.