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Alaska Purchase

   Also found in: Wikipedia 0.10 sec.

Alaska Purchase

Acquisition in 1867 by the U.S. from Russia of 586,412 sq mi (1.5 million sq km) at the northwestern tip of North America, comprising the current U.S. state of Alaska. The territory, held by Russia since 1741, was considered an economic liability, and in 1866 it was offered for sale. Pres. Andrew Johnson's secretary of state, William Seward, negotiated its purchase for $7.2 million, or about two cents per acre. Critics labeled the purchase “Seward's Folly.” Congressional opposition delayed the appropriation until 1868, when extensive lobbying and bribes by the Russian minister to the U.S. secured the required votes.



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If distrust of the Alaska purchase had mostly to do with who had pulled it off, there was far more direct suspicion of Russia in other arenas.
metropolitan area for more than 165 years, participating in significant historical events which include serving as the bank for many presidents of the United States, financing the Alaska Purchase of 1867 and providing loans for the construction of the U.
 
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