Why did journalists call the Alaska purchase of 1867 “Seward’s Folly”?
Stacey Warren - Expert brainly.com
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Because at the time Alaska has yet been discovered for its wealth in natural resources and was seen as buying "a giant block of ice".
In 1867 petroleum wasn't very important. Trains ran on coal, which was mined in Appalachia and the Midwest, and there were no cars or electric plants.