The United States obtained "the isolated colony" Alaska from the Russians in the year 1867 for $7.2 million. Many critiques, legislators, and journalists objected the high price and unpredictable prospects of earning a reasonable return on the investment at the time. The Chicago Evening Journal, April 1, 1867 stated: "The paltry sum of $7,000,000 for a country nearly eight times as large as this state [Illinois] and 400 miles of coast, shows Russia has some ulterior object to gain[It] more than doubles our Pacific Coast, yet adds but little to the productive territory of the nation. Continue reading...
