What was once considered the foolish, costly act of a land-hungry politician is now considered to be one of the most profitable and strategic moves in U.S. history.
The U.S. purchase of Alaska from Russia in 1867, a transaction negotiated by then Secretary of State William Seward, was initially ridiculed in the press as “Seward’s folly” because the arctic region was thought by many to be unusable and unhabitable.
Fast forward more than 150 years to the present, and Alaska is not only one of the richest states in the nation but also a key part of America’s missile defense program.