Today In History- October 18

Following the purchase of Alaska in March 1867, on October 18, 1867, the United States formally took possession of the nearly 600,000 square mile territory.  Russia was in dire financial needs, and offered to sell the territory for an amazing price of $7.2 Million, calculated to be roughly 1.9 cents per acre.  Secretary of State William Seward encouraged the purchase of this land for expansionist reasons, although many Americans thought it foolish to pay so much on such a remote region.