The purchase of Alaska was completed by the Act of July 27, 1868, which appropriated the amount agreed upon in the treaty of March 30, 1867,— negotiated by Mr. Seward on behalf of the United States, and by Baron Stoeckl representing the Emperor of all the Russias. The Russian Government had initiated the matter, and desired to sell much more earnestly than the United States desired to buy. There is little doubt that a like offer from any other European government would have been rejected. The pressure of our financial troubles, the fact that gold was still at a high premium, suggested the absolute necessity of economy in every form in which it could be exercised; and in the general judgment of the people the last thing we needed was additional territory. There was, however, a feeling of marked kindliness towards Russia; and this, no doubt, had great weight with Mr. Seward when he assented to the obvious wishes of that government. But while there was no special difficulty in securing the ratification of the treaty by the Senate, a more serious question arose when the House was asked to appropriate the necessary amount to fulfill the obligation. Seven million two hundred thousand dollars in gold represented at that time more than ten million dollars in the currency of the Government; and many Republicans felt, on the eve, or rather in the midst, of a Presidential canvass, that it was a hazardous political step (deeply in debt as the Government was, and with its paper still at a heavy discount) to embark in the speculation of acquiring a vast area of "rocks and ice," as Alaska was termed in the popular and derisive description of Mr. Seward's purchase.

When the bill came before the House, General Banks, as Chairman of the Committee on Foreign Affairs, urged the appropriation with great earnestness, not merely because of the obligation imposed upon the Government by the treaty, which he ably presented; not merely by reason of the intrinsic value of the territory, which he abundantly demonstrated; but especially on account of the fact that Russia was the other party to the treaty, and had for nearly a century shown a most cordial disposition towards the United States. General Banks maintained that at every step of our history, from 1786 to the moment when he was speaking, Russia had been our friend. "In the darkest hour of our peril," said he, "during the Rebellion, when we were enacting a history which no man yet thoroughly comprehends, when France and England were contemplating the recognition of the Confederacy, the whole world was thrilled by the appearance in San Francisco of a fleet of Russian war vessels, and nearly at the same time, whether by accident or design, a second Russian fleet appeared in the harbor of New York. Who knew how many more there were on their voyage here? From that hour France, on the one hand, and England on the other, receded, and the American Government regained its position and its power. . . . Now, shall we flout the Russian Government in every court in Europe for her friendship? Whoever of the representatives of the American people in this House, on this question, turns his back, not only upon his duty, but upon the friends of his country, upon the Constitution of his Government, and the honor of his generation, cannot long remain in power."

Mr. Cadwalader C. Washburn answered the speech of General Banks on the succeeding day (July 1, 1868). He assumed the leadership of the opposition to the treaty. He proposed to demonstrate to the satisfaction of the House five distinct propositions: "First, that at the time the treaty for Alaska was negotiated, not a soul in the whole United States asked for it; second, that it was secretly negotiated, and in a manner to prevent the representatives of the people from being heard; third, that by existing treaties we possess every right that is of any value to us, without the responsibility and never-ending expense of governing a nation of savages; fourth, that the country ceded is absolutely without value; fifth, that it is the right and duty of the House to inquire into the treaty, and to vote or not vote the money, according to its best judgment." Mr. Washburn made an able speech in support of his radical propositions.

General Butler sustained Mr. Washburn's position in a characteristic speech, especially answering General Banks's argument that we should pay this amount from a spirit of friendship for Russia. "If," said General Butler, "we are to pay this price as usury on the friendship of Russia, we are paying for it very dear indeed. If we are to pay for her friendship, I desire to give her the seven million two hundred thousand dollars in cash, and let her keep Alaska, because I think it may be a small sum to give for the friendship if we could only get rid of the land, or rather the ice, which we are to get by paying for it." He maintained that it was in evidence before the House officially, "that for ten years the entire product of the whole country of Alaska did not exceed three million dollars."

—Mr. Peters of Maine pronounced the territory "intrinsically valueless; the conclusive proof of which is found in the fact that Russia is willing to sell it." He criticised the action of the Senate in negotiating the treaty. "If the treaty-making power can buy, they can sell. If they can buy land with money, they can buy money with land. If they can buy a part of a country, they can buy the whole of a country. If they can sell a part of our country, they can sell the whole of it!"

—Mr. Spalding of Ohio, on the other hand, maintained that "notwithstanding all the sneers that have been cast on Alaska, if it could be sold again, individuals would take it off our hand and pay us two or three millions for the bargain."

—General Schenck thought the purchase in itself highly objectionable, but was "willing to vote the money because the treaty has been made with a friendly power; one of those that stood by us,—almost the only one that stood by us when all the rest of the powers of the world seemed to be turning away from us in our recent troubles."

—Mr. Stevens supported the measure on the ground that it was a valuable acquisition to the wealth and power of the country. He argued also in favor of the right of the Senate to make the treaty.

—Mr. Leonard Myers was sure that if we did not acquire Alaska it would be transferred to Great Britain. "The nation," said he, "which struggled so hard for Vancouver and her present Pacific boundary, and which still insists on having the little island of San Juan, will never let such an opportunity slip. Canada, as matters now stand, would become ours some day could her people learn to be Americans; but never, if England secures Alaska."

—Mr. Higby of California answered the objections relating to climate. "I do not know," said he, "whether the people of the East yet believe what has been so often declared, that our winters on the Pacific are nearly as mild as our summers, and yet such is the fact. In my own little village, situated over fourteen hundred feet above the level of the ocean, I have seen a plant growing in the earth green through all the months from October to April."