The US purchase of Alaska

Apart from Sarah Palin, the state of Alaska has a lot to offer the United States. It has immense reserves of oil, coal and natural gas together with many precious metals. The Prudhoe Bay oilfield alone is estimated to contain 10 billion barrels of oil and 27 trillion cubic feet of natural gas. It is a vital part of the future of the country, which is a great change from those people who felt that the United States should have nothing do with the area.
It is a massive and remote state which covers a huge territory. Its capital Juneau is almost as near to Tokyo as it is to Washington DC (300 miles difference). Not surprisingly, it has the most northerly point of the United States but it also has the most westerly point – Peaked Island – and the most easterly point. Some of its islands straddle the 180 degree line of longitude with the result that Pochnoi Island is officially designated 179 degrees East.
Russia was the first European country to attempt to settle the territory. Fur traders had heard of the area to their east and eventually Peter the Great commissioned Dutch sailor Vitus Bering to explore the area. Bering sailed through and gave his name to the strait separating the continents and is credited with establishing Russia’s claim to Alaska in the early 1700s. Spain and England also showed an interest in setting up colonies but they came to nought. This left only the Russians and in the early years of the 19th century, the area was called Russian America. Even though it was a rich trapping ground and they had heard hints of the possibility of gold, the Russians offered Alaska for sale to the United States. However, objections and the American Civil War put an end to that.
The Crimean War had ended. Russia was under financial pressure in Europe and wanted to keep Alaska out of English control, so talk of a sale to the United States started again. Secretary of State Seward agreed to purchase Alaska from Russia for $7,200,000. He was severely criticised and Alaska was called Seward’s Folly or the Polar Bear Garden.  The purchase was finally approved by the senate but it took a further year before the House of Representatives approved the money to pay for it.
The first official census of Alaska added further controversy. The population was reported as 33,426 and of these, only 430 were settlers.
The first small gold finds had been made in 1852 and coal deposits were found in 1857. In order to develop the area, in 1895, it was decided to invest $5,000 in seeking gold and coal deposits. Never did an investment pay off as well. Three years later gold was discovered in the Klondike and in that first year, 1989, it is estimated that $200,000,000 worth of gold was mined. Since then, Alaska has contributed billions to the American economy. 
At a purchase price of approximately two cents per acre, instead of a folly it has proven to be one of the best buys of all time.
Following the delay in congressional approval, the money was handed over and the United States officially took possession of Alaska on October 18, 1867 – 143 years ago this week.
Michael Torpey