Final answer:
The journalists called the Alaska Purchase of 1867 "Seward's Folly" due to concerns about settlement and governance challenges. However, the purchase turned out to be strategically beneficial for the United States.
Step-by-step explanation:
In 1867, the United States acquired the Alaskan Territory from Russia for $7.2 million. The purchase was made by Secretary of State William Seward. At the time, many newspaper editors criticized the purchase and labeled it "Seward's Folly" due to concerns about the lack of American settlers in the region and the challenges of governing the native peoples. However, the purchase turned out to be strategic and beneficial for the United States, as it provided access to rich mineral resources, including gold, and added vast territory to the country.