The United States Senate approves the purchase…

This purchase is popularly known in the U.S. as "Seward's Folly,", "Seward's Icebox," or "Andrew Johnson's Polar Bear Garden", and is unpopular at the time, though the later discovery of gold and oil will show it to be a worthwhile one.

Financial difficulties in Russia, the desire to keep Alaska out of British hands, and the low profits of trade with Alaskan settlements have all contributed to Russia's willingness to sell its possessions in North America.