UA Research Summary No. 15

Abstract

Utterly worthless. That’s how a congressman from Missouri described Alaska in 1867, when the U.S. bought it from Russia. A lot of Americans agreed. For almost 100 years, hardly anyone— except some Alaskans—wanted Alaska to become a state. But Alaska did finally become a state, in 1959. Today, after 142 years as a U.S. possession and 50 years as a state, Alaska has produced resources worth (in today’s dollars) around $670 billion. The U.S. paid$7.2 million for Alaska, equal to about $106 million now. For perspective, that’s roughly what the state government collected in royalties from oil produced on state-owned land in just the month of March 2009. To help mark 50 years of statehood, this publication first takes a broad look at what’s changed in Alaska since 1959. That’s on this page and the back page. We’ve also put together a timeline of political and economic events in Alaska from 1867 to the present. That’s on the inside pages. There’s an interactive version of the timeline—with photos, figures, and more—on ISER’s Web site: www.iser.uaa.alaska.edu