Observed on the last Monday in March, Seward's Day is a legal holiday in Alaska commemorating the signing of the Alaska Purchase treaty on March 30, 1867. The purchase from Russia was single-handedly negotiated by Secretary of State William H. Seward.

In the months following the purchase, critics of the deal called it "Seward's Folly” or “Seward's Icebox," questioning the value of Alaska and the wisdom its purchase. The Klondike Gold Strike of 1896 put an end to the criticism.

Purchase Price

The Alaska Purchase of 1867 negotiated by Secretary of State William H. Seward amounted to $7.2 million, or roughly 2 cents an acre. In 21st century dollars, the purchase amounts to 30 cents an acre.

Russia's motivation for selling Alaska at the time was because it was costing them more to maintain as a territory than it was producing in revenues