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On March 30, 1867, the United States reached an agreement to purchase Alaska from Russia for a price of $7.2 million. The Treaty with Russia was negotiated and signed by Secretary of State William Seward and Russian Minister to the United States Edouard de Stoeckl.
On January 3, 1959 he signed the official proclamation admitting Alaska as the 49th state.
Defeat in the Crimean War further reduced Russian interest in this region. Russia offered to sell Alaska to the United States in 1859, believing the United States would off-set the designs of Russia's greatest rival in the Pacific, Great Britain.
The United States purchases the rights to Alaska, known as "Russian-America," from Russia. Secretary of State William H. Seward negotiates a price of $7.2 million, or roughly 2 cents per acre.
In Alaska, the Americans foresaw a potential for gold, fur and fisheries, as well as more trade with China and Japan. The Americans worried that England might try to establish a presence in the territory, and the acquisition of Alaska ? it was believed ? would help the U.S. become a Pacific power.
The Ethics Act prohibits substantial and material conflicts of interest. Further, public employees, and their immediate family, may not improperly benefit, financially or personally, from their actions as public employees.