Russia's Offer

Financial troubles at the Russian-American Company and the realization by Russia that it could not defend its territory in North America prompted negotiations to sell Alaska. As the Russian minister to the United States, Edward de Stoeckl, put it, "In the case of war [Alaska] will be at the mercy of every hostile power, and even in time of peace, it is not protected from American freebooters." "Freebooters" refers to the possibility of private Americans coming to Alaska on their own. Between 1848 and 1855, 300,000 Americans migrated to California during its Gold Rush. With the Russian population of Alaska at about 500 individuals, it was easy to imagine the colony being overwhelmed by Americans in the future. And Stoeckl saw the U.S. as hungry to keep expanding. "However spacious the regions of the United States Federation may be, they do not seem extensive enough for the feverish activity and spirit of enterprise of the Americans. They look upon that continent [North America] as their patrimony".

In March of 1867, Stoeckel approached the U.S. Secretary of State William H. Seward with an offer to sell Alaska. Seward saw the offer as a great opportunity and was eager to buy Alaska. After a brief negotiation, they agreed on a price of $7.2 million for the territory. 

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