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OpenStudy (anonymous):

Why did journalists call the Alaska purchase of 1867 “Seward’s Folly”?

OpenStudy (anonymous):

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".

OpenStudy (anonymous):

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.

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