The United States purchased Alaska from Russia in 1867 for $7.2 million (approximately two cents per acre). [1]
Transaction Metrics & Economic Rationale
- Acquisition Cost: $7.2 million in gold ($150+ million adjusted for inflation). [1, 2]
- Land Area Acquired: 586,412 square miles (1.5 million square kilometers). [1]
- Russian Financial Strain: Heavy debt and financial distress following the Crimean War (1853–1856).
- Geopolitical Defense: Inability to defend the distant territory against potential seizure by Great Britain. [1, 2, 3]
- Long-Term Economic Validation:Resource Discovery: The 1896 Klondike Gold Rush and subsequent massive oil, timber, and commercial fisheries developments.
- Strategic Pacific Footprint: Secured U.S. dominance in the North Pacific and expanded geopolitical leverage in Asia. [1, 2, 3, 4]
Key Dates of the Alaska Purchase:
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