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Costs of Louisiana Purchase vs Alaska Purchase (lemmy.world)

submitted 3 months ago* (last edited 3 months ago) by [email protected] to c/[email protected]

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Louisiana Purchase was $15 million in 1803.

Alaska Purchase was $7.2 million in 1867.

Inflation puts $15 million in 1803 as being $19.6 million in 1867. So that puts Alaska purchase as 36.6% the price of Louisiana purchase. Honestly I can see why it was seen as a folly when the land couldn't really be settled, crops couldn't grow there, and the value was fur and fishing. (Though yes Louisiana as seen as a bargain).

https://www.in2013dollars.com/us/inflation

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[–] [email protected] 1 points 3 months ago (1 children)

This may not have made sense at the time, but isn't Alaska a good source of oil?

[–] [email protected] 1 points 3 months ago

Yes but they didn't know that at the time.