"Seward's Folly" refers to a financial scandal involving Grant's secretary of state,William Seward.

Name: "Seward's Folly" refers to a financial scandal involving Grant's secretary of state,William Seward.
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"Seward's Folly" actually refers to the purchase of Alaska by the United States during Seward's time as secretary of state under President Andrew Johnson. The purchase was initially criticized as a waste of money, but later proved to have valuable natural resources.

"Seward's Folly" Refers to a Financial Scandal Involving Grant's Secretary