Alaska Buy in Agreement
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How to fill out Buy In Agreement?
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Yes, you can claim your own land in Alaska, but the process requires understanding specific laws and regulations. An Alaska Buy in Agreement can guide you through the steps necessary for claiming land legally. This agreement outlines the rights and responsibilities involved, ensuring a smooth transaction. By using a platform like US Legal Forms, you can access templates and resources that simplify the process of securing your land.
On March 30, 1867, the two parties agreed that the United States would pay Russia $7.2 million for the territory of Alaska. For less that 2 cents an acre, the United States acquired nearly 600,000 square miles.
The Senate approved the treaty of purchase on April 9; President Andrew Johnson signed the treaty on May 28, and Alaska was formally transferred to the United States on October 18, 1867. This purchase ended Russia's presence in North America and ensured U.S. access to the Pacific northern rim.
Russia wanted to sell its Alaska territory, which was remote and difficult to defend, to the U.S. rather than risk losing it in battle with a rival such as Great Britain. Negotiations between Seward (1801-1872) and the Russian minister to the U.S., Eduard de Stoeckl, began in March 1867.
Though mocked by some at the time, the 1867 purchase of Alaska came to be regarded as a masterful deal. The treaty enlarged the United States by 586,000 square miles, an area more than twice the size of Texas, all for the bargain price of around two cents an 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.
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 purchase added 586,412 square miles (1,518,800 km2) of new territory to the United States for the cost of $7.2 million 1867 dollars. In modern terms, the cost was equivalent to $133 million in 2020 dollars or $0.37 per acre.
Does Russia regret selling Alaska? Probably, yes. We can emphasize the importance of the purchase of Alaska regarding natural resources. Shortly after the sale of Alaska, rich gold deposits were discovered, and gold hunters from America began to flock there.
The treaty setting the price at $7.2 million, or about $125 million today was negotiated and signed by Eduard de Stoeckl, Russia's minister to the United States, and William H. Seward, the American secretary of state.
