Prompt Cast
The Purchase of Alaska: From Bad Deal to Great Bargain
TLDR In 1867, the United States purchased Alaska from Russia for two cents an acre, a deal initially considered unfavorable but later seen as a great bargain. Russia's interest in Alaska was focused on fur trapping, and they sold it due to financial constraints, the growing power of the United States, and the potential for a gold rush.
Timestamped Summary
00:00
In 1867, the United States purchased Alaska from Russia for two cents an acre, which was initially considered a bad deal but is now seen as a great bargain.
01:37
Russia's interest in Alaska was primarily focused on fur trapping, and their attempts at colonization in the region were hindered by the immense transportation costs and lack of settlers.
02:55
Russia realized that they couldn't hold onto Alaska for long due to their financial situation, the growing power of the United States, and the potential for a gold rush, and they saw the Americans as a better option than the British to control Alaska.
04:15
Negotiations to purchase Alaska from Russia began with the Buchanan administration, but were ultimately picked up by the Lincoln administration after the onset of the US Civil War, with William Seward, the expansionist senator from New York, being a major supporter of the purchase.
05:38
Negotiations for the purchase of Alaska from Russia were in their final stage by March 1867, with the final price agreed upon being $7.2 million, or approximately two cents an acre, and the treaty being signed on March 30th of that year.
07:00
The transfer of Alaska from Russia to the United States went smoothly and peacefully, with most Alaskan natives unaware of the change in ownership, but the impeachment of President Johnson caused delays in authorizing payment for the territory.
08:24
The economic opportunities in Alaska were initially limited, causing many Americans to leave, but the Klondike Gold Rush in 1896 brought a significant influx of people to the territory and changed its fortunes.
