Alaska's territory was purchased from [[Russia]] in 1867 by the Johnson administration for 7.2 million [[USD]]; its vast [[oil]] and [[gold]] reserves have more than repaid the investment that was once ridiculed as "Seward's Folly." ([[William H. Seward]] was the [[Secretary of State]] that negotiated Alaska's purchase from Russia.) | Alaska's territory was purchased from [[Russia]] in 1867 by the Johnson administration for 7.2 million [[USD]]; its vast [[oil]] and [[gold]] reserves have more than repaid the investment that was once ridiculed as "Seward's Folly." ([[William H. Seward]] was the [[Secretary of State]] that negotiated Alaska's purchase from Russia.) |