How the US bought a huge chunk of Russia for just £5.8million

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America's shrewd move significantly weakened a rival.

The deal was controversial at the time but worked out very well for America in the end It was, quite possibly, the single shrewdest business deal ever struck. Yet, at the time, few people gave the savvy politician behind it much credit at all. In fact, William H. Seward was ridiculed by some for signing the cheque.

So while it’s generally regarded that the Alaska Purchase was not ‘Seward’s Folly’, would it be fair to say that it was someone else’s? Was it ‘Tsar Alexander II’s Folly’? Well, not quite. It may appear that Russia dropped a massive clanger in selling Alaska to the US. It’s easy to look back in 2024 and scoff at the decision to sell the vast land mass so cheaply. However, history and politics are seldom that straightforward.

 

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