The Treaty with Russia was negotiated and signed by Secretary of State WilliamSeward and Russian Minister to the United States Edouard de Stoeckl. Critics of the deal to purchase Alaska called it "Seward's Folly” or “Seward's Icebox." Opposition to the purchase of Alaska subsided with the Klondike Gold Strike in 1896.
William Seward was the Secretary of State of the United States at the time of the purchase (1867). This means that he was the one who negotiated the treaty. It is for this reason that it was called "Seward's." The treaty was called "Folly" because somepeople believed it to be a very bad deal for the US.
Mar 3, 2010 - Despite the bargain price of roughly two cents an acre, the Alaskan purchase was ridiculed in Congress and in the press as “Seward's Folly,” ...
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