Well,they didn't take credit cards,
so we had to write them a check...
The warrant was issued for $7.2 million in gold to complete the treaty brokered by Secretary of State William Seward. The transaction amounted to approximately two cents per acre for nearly 600,000 square miles of territory.
The US $7.2 million check used to pay for Alaska, 1868, (roughly $135 million in 2022).
In 1866 the Russian government offered to sell the territory of Alaska to the United States. Secretary of State William H. Seward, enthusiastic about the prospects of American Expansion, negotiated the deal for the Americans. Edouard de Stoeckl, Russian minister to the United States, negotiated for the Russians.
On March 30, 1867, the two parties agreed that the United States would pay Russia $7.2 million for the territory of Alaska. The check for $7.2 million was made payable to the Russian Minister to the United States Edouard de Stoeckl, who negotiated the deal for the Russians. Although the treaty was signed in 1867, this final payment warrant was issued on August 1, 1868. Critics originally labeled the purchase "Seward's Folly," but it is now recognized as a major territorial expansion for the United States.
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And to this day the Russians regret that decision. They'd give just about anything to get Alaska back. Including war if they thought they could succeed.
ReplyDeleteAt $20.67 per ounce of gold, the purchase cost roughly 348k oz of gold.
ReplyDeleteAt today’s price of $5050, that would be $1,759,000,000. A good price especially considering they pull 750k oz of gold per year from there.