 "United States Treasury warrant in the amount of $7.2 million for the purchase of the Alaska Territory from the Russians, dated August 1, 1868. Wikimedia Commons")
The United States made one of its most beneficial transactions by purchasing Alaska from Russia on October 18, 1867. Many experts consider it to be a strategic and economic milestone.
If you are a history geek who loves to learn about important events from the past, Firstpost Explainers’ ongoing series, History Today will be your one-stop destination to explore key events.
On this day in 2007, Pakistan’s former Prime Minister Benazir Bhutto made returned to the country after eight years of self-imposed exile.
Here is all that took place on this day across the world.
US purchased Alaska from Russia
The United States formally completed the purchase of Alaska from Russia on October 18, 1867. Negotiated by US Secretary of State William H Seward and Russian minister Edouard de Stoeckl, the agreement transferred ownership of the vast territory for $7.2 million, roughly 2 cents per acre. At the time, the purchase faced scepticism in the United States, with critics labelling it “Seward’s Folly” or “Seward’s Icebox”, questioning the value of acquiring such a remote and frozen land.
However, the acquisition was driven by multiple strategic considerations. Russia sought to sell Alaska to prevent potential loss to Britain in the event of war, while the United States aimed to expand its territory and influence in the Pacific. Alaska’s abundant natural resources, though not fully understood at the time, would later reveal immense value in fur, timber, minerals, and oil.
The formal transfer ceremony took place in Sitka, the former capital of Russian Alaska. A 21-gun salute marked the occasion, and the Russian flag was lowered as the American flag was raised. The event symbolised not just a change in governance but also the beginning of America’s presence in the Arctic and the North Pacific.
Over the years, Alaska’s importance grew significantly. The Klondike Gold Rush of the late 1890s, World War II strategic positioning, and, eventually, oil discoveries in the 20th century transformed it from a disputed wilderness into a key economic and strategic asset for the United States.
Impact Shorts
More ShortsBenazir Bhutto returned to Pakistan
The former Prime Minister of Pakistan and leader of the Pakistan Peoples Party (PPP) Benazir Bhutto made a return to Pakistan after nearly eight years in self-imposed exile on October 18, 2007. Bhutto had left the country in 1999 following a military coup led by General Pervez Musharraf and subsequent legal and political pressures that made it unsafe for her to remain in Pakistan.
Bhutto arrived at Karachi’s airport, where she was greeted by thousands of supporters waving party flags and chanting slogans of welcome. Her return symbolised hope for democracy for many Pakistanis, particularly as the nation was grappling with political instability, military influence in governance, and growing militancy. She vowed to work towards restoring democratic institutions and addressing the country’s economic and social challenges.
Her arrival was carefully planned, with heavy security due to concerns over threats from extremist groups who opposed her secular and reformist agenda. Despite the risks, Bhutto’s decision to return underscored her commitment to participating directly in Pakistan’s political future and leading her party into the general elections scheduled for January 2008.
Her return invigorated the PPP and its supporters, igniting nationwide political rallies and demonstrations. It also marked the beginning of a tense political period, with escalated confrontations between the government, the military, and opposition parties. Tragically, less than two months after her return, Bhutto was assassinated in a terrorist attack in Rawalpindi on December 27, 2007, shocking the nation and the world.
This Day, That Year
In 1931, American gangster Al Capone was convicted of federal income-tax evasion and sentenced to 11 years in prison.
On this day in 1922, the British Broadcasting Company, Ltd. was established.
Puerto Rico was turned over to the United States following the Spanish-American War in 1898.