Seward's Folly

American  

noun

U.S. History.

1. the purchase of Alaska in 1867, through the negotiations of Secretary of State W. H. Seward.

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Etymology

Origin of Seward's Folly

So called because Alaska was regarded as worthless land

Example Sentences

Secretary of State William H. Seward in 1867 cut a deal with Russia to buy Alaska for $7.2 million, a move roundly ridiculed as "Seward's Folly."

From US News • Mar. 30, 2015

He then found that the Senate, already embroiled in the post-Civil War quarrels that would lead to the impeachment of President Johnson, refused to ratify "Seward's Folly."

From Time Magazine Archive

Thanks to "Seward's Folly," the fortress of North America has a castellated outpost at the northwest angle in Alaska.

From Time Magazine Archive

The territory that was once called Seward's Folly is rich almost beyond comprehension in oil, coal, timber and fish.

From Time Magazine Archive

This purchase is spoken of in history as "Seward's Folly," because the transaction, made while he was secretary of state, was not generally considered a good bargain.

From Boy Scouts Handbook The First Edition, 1911 by Boy Scouts of America