In 1867, Russia finally sold its land in America to the United States. The purchase was driven by then Secretary of State William Steward. The 6,000,000 square mile territory was purchased for a sum of 7.2 million US dollars, or 5.9 cents an acre. The price was not nearly as low as it sounds, due to inflation, but was still quite cheap. The territory was sometimes referred to as Seward’s folly, Seward’s Icebox, or Andrew Johnson’s polar bear garden. Many people believed that spending so much money on such a remote region was foolish.
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When gold was discovered in the Klondike region, it prompted a gold rush similar to one in California in 1849.