Question

Why did journalists call the Alaska purchase of 1867 Seward's Folly

Answer 1

Journalists called the Alaska purchase of 1867 as "Seward's Folly" because they thought the land was worthless. It was basically just a bunch of ice.

Answer 2

It was called “Seward’s Folly” because opponents saw no value to the purchasing of Alaska from the Russians.  There was nothing there except snow and ice in the area and it was difficult to survive let alone live there.  When the U.S. began to settle  in Alaska, only a few people were willing to live in such a harsh environment where one can die from the cold.  That all changed when gold was discovered in the Klondike in 1898.  People now came in large numbers to pan for gold and Seward was vindicated in his purchase.