Which event is referred to as Seward's Folly?

Seward's Folly refers to the purchase of Alaska, which was orchestrated by Secretary of State William H. Seward in 1867. At the time, the acquisition was met with skepticism and criticism from many Americans who viewed Alaska as a barren wasteland without significant value. Critics mocked the purchase, dubbing it "Seward's Folly" or "Seward's Icebox," implying that it was a foolish mistake and a waste of government funds.

However, the view of the purchase changed dramatically over time, especially after the discovery of gold and oil in Alaska, which proved the territory to be rich in resources. This acquisition significantly expanded the territory of the United States and laid the groundwork for future economic benefits. The correct selection highlights not only a pivotal moment in U.S. foreign policy but also reflects changing perceptions of territorial expansion and resource acquisition.