Seward is best known for his purchase of Alaska from Russian, which was derisively called "Seward's Folly" because it was not thought to have any value. Later valuable natural resources, including gold and oil, were discovered there. | Seward is best known for his purchase of Alaska from Russian, which was derisively called "Seward's Folly" because it was not thought to have any value. Later valuable natural resources, including gold and oil, were discovered there. |