The United States bought Alaska from Russia for $7.2 million in 1867. The treaty was signed on March 30, 1867, at a price of about two cents per acre.
U.S. Secretary of State William H. Seward negotiated the purchase with Russian diplomat Eduard de Stoeckl during President Andrew Johnson's administration. Russia wanted to sell the distant territory because it was difficult to defend and had become less profitable.
The U.S. Senate ratified the treaty on May 15, 1867. Formal American sovereignty took effect on October 18, when the Russian flag was lowered and the U.S. flag was raised at Sitka. Alaska Day commemorates that transfer.
Some Americans initially mocked the acquisition as “Seward's Folly” or “Seward's Icebox.” Later discoveries of gold, oil, and other resources changed how many people viewed the purchase.