In 1867, the United States purchased Alaska from Russia in a deal known as the 1867 Purchase. The purchase was negotiated by Secretary of State William H. Seward and was officially signed by President Andrew Johnson. The purchase was made for $7.2 million, which was referred to as 'Seward's Folly' at the time. The purchase added 586, 412 square miles of land to the United States, and the abbreviation for the purchase is NEBR, which stands for 'North East Boundary Resolution'. Additionally, the purchase also included the territory of Nebraska, which was then part of the Dakota Territory.