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The U.S. purchased Alaska from Russia in 1867, in a deal disparaged at the time as “Seward’s Folly,” for $7.2 million.

Secretary of State William H. Seward reached agreement with Russia to purchase the territory of Alaska for $7.2 million, a deal ridiculed by critics as “Seward’s Folly.”

The purchase arranged by the secretary of state was ridiculed at the time as “Seward’s Folly” by critics who also called the territory “Seward’s Icebox.”

At the time, however, it was ridiculed as "Seward's folly," with many in the press arguing that he had wasted taxpayer money on a frozen wasteland.

“Who today believes the acquisition of Alaska was ‘Seward’s folly’?” he asked, referring to secretary of state William Seward, who oversaw that purchase under Andrew Johnson.