United States purchased Alaska in 1867 and at first this action was regarded as a folly act on the part of William Seward who reached an agreement with the emperor Alexander II from Russia to purchase said land. Russia was in an adverse economic situation, so in order to avoid lossing Alaska in a conflict with Britain, they decided to sell the lands to the United States. Time proved that purchasing of Alaska was not an act of folly because it is a land rich in timber, minerals and oil.
