The History of Denver
Denver's past is filled with events and people who have created the city. From the gold rush to its revival following oil.
Early Denver was a hub for those who traveled between the Great Plains and Rocky Mountains. Evidence from archaeology at prehistoric indigenous sites suggests that people of different cultures mixed and interacted here.
Gold Rush
Denver's first gold boom the Gold Rush of 1849 was an important historical event. It brought many people to the city seeking fortune or a new start in life.
The initial gold discoveries were made in Gilpin and Clear Creek Counties, west of Denver. Numerous prospectors made gold in this region, including George Jackson of Idaho Springs and John Gregory of Cherry Creek.
These discoveries did not suffice to revive the gold mining. A lot of publicity was needed to attract new miners. William N. Byers, editor of Denver's very first newspaper Rocky Mountain News, launched campaigns to draw those who were looking for gold.
In the spring of 1859, more than 100,000 men had left their homes in the Missouri River towns of Kansas and Nebraska to traverse the plains, and then up into Colorado's mountain country. These men were called "Fifty-Niners."
Many of them were interested in the gold that was discovered in gulches, such as Clear Creek and Gold Run in Boulder County. Other gold-seekers were more ambitious, searching for gold that was buried in the mountains of Colorado.
The first major gold discovery was made in the region around Central City by John Gregory, who was a Georgian. He was a wiry red-haired cracker who had a keen eye for the gold that was found in his homeland.
Gregory was followed by a number of other prospectors who made gold strikes in Clear Creek and Gold Run. Prospectors who continued their search in the mountains were rewarded by the discovery of gold in the form of placer gold.
In the wake of the gold rush, Colorado developed into a mining mecca and a railroad-borne city. The city grew rapidly, ultimately becoming the capital of the Territory of Colorado in 1881. Denver is a vibrant metropolis with many museums, parks and attractions, as well as other attractions that pay tribute to its rich history.
Silver Rush
Mining for silver and gold was the primary economic engine of Colorado in the 19th century. It brought in more than $1 billion in revenue and produced several millionaires in the early years among them Horace Tabor and Nathaniel Hill.
In 1849, a group California prospectors set out west to find their fortune. They found some gold near Arvada and later discovered placer gold (veins embedded in the rock) at Cherry Creek. These discoveries were merely teasers, but they did spark curiosity in a handful of Midwestern investors as well as Eastern investors, who quickly joined in and began to explore the area further.
Tens of thousands of people left for the northeastern part of Colorado as the word spread. They came for various reasons, from wanting to make a fresh start to getting caught up in tensions between sections North and South.
Some were motivated by the prospect of riches because of their exposure to advertising literature, like Horace Greeley's "Go West Young Man." These men were also fueled by an unending desire for adventure.
Whatever their motivations the majority of them made their fortunes in silver and gold mining. Combining the Bland-Allison Act of1878 which required Congress to purchase 4.5 million ounces worth of Silver per Month, and the discovery of silver in the 1890s, significantly increased the cost of silver, and also allowed the establishment of more mines throughout the state.
After the boom in silver However, the economy faltered and many mining districts struggled to stay afloat. Durango and Ouray in southwest Colorado, remained strong while others, like Creede or Silverton in San Juan Mountains, floundered.
Culture Rush
Denver is a cultural crossroads. The city is home to one of the biggest art institutions in the United States, and is home to world-class museums that celebrate the past and present.
Denver Art Museum is a wonderful place to go, with a collection that spans prehistory to the 21st century. It's also adjacent to the Clyfford Still Museum that houses the largest collection of art by an American abstract expressionist.
As the culture rush continued, Denver began to transform itself from a frontier town into a modern and flourishing metropolis. A new train line connecting Denver to other towns and cities across the country allowed this to happen.
This new route also resulted in more money for the city, which led to an increase in population growth. Denver was the third largest city in the United States at the start of World War II, with a population exceeding 322,000.
Another factor that contributed to the growth of Denver was the creation of the US Mint, which was constructed in the city in 1878. The Mint is a well-known tourist attraction, and tours are available daily.
A visit to the Molly Brown House, which was the residence of Denver's first female mayor, is also an absolute must. The restored Victorian-style home provides an insight into the lives of its inhabitants and a fascinating look at Colorado's history.
While the Gold Rush helped to shape Denver's image, it wasn't without its issues. Many of the men and women who left their homes in the eastern part of America to pursue the riches of the west were not well-equipped for the journey. They often traveled in wagons and were susceptible to dehydration, hunger, and even death. These conditions led to widespread xenophobia, which led to the creation of the Ku Klux Klan.
Oil Boom
Denver City was transformed by the oil boom of 1849. It was a time in which people traveled from around the nation to work in the oil fields. The boom caused a large demand for restaurants, housing and hotels and water systems to support the growing number of workers in western Colorado.
Numerous towns have sprung up in the region to accommodate workers and visitors. Some were small communities with a few stores and eateries, while others were oil towns that had hotels, restaurants and recreation facilities.
One of the most renowned was Gearhart in the town of Gearhart, which was just half a mile to the south of the Patterson well. The town was home to a variety of businesses , including general stores and a grocery store, a barbershop/pool hall, machine shops and other services.
The town was a favorite among workers from other areas due to the fact that it was cheap to stay in and was easy to access. It also had an outdoor dance hall that was a place where laborers and guests could dance.
While the boom was a great time for some however, it also brought many hardships to Denver and its surrounding communities. Certain families and towns would lose their homes, while others be insolvent or unable to make ends meet.
Many towns also had to contend with a shortage in workers because people from other parts of the country were drawn by the high wages and the numerous job opportunities in western Colorado. Those who did not work in the mines had to find accommodation, improve wooden water lines to accommodate increased flows, and serve meals in restaurants packed with new workers and tourists.
Today, the Denver-Julesburg Basin is among the largest oil shale plays in the world. But while the oil industry is a major part of the economy in the state, it's not the dominant force. Companies are focusing on other sectors such as finance and cleantech, to drive economic growth, while the production of oil and gas isn't expected to grow at the same rate as it did when the law was first passed.
Boom and bust cycle
Boom and bust cycles are cycles of economic growth and fall that occurs in capitalist countries. Booms are times when the economy is expanding, jobs are plentiful, and investors earn high returns on their investments. The boom ends and the economy begins to shrink. People lose their jobs and investors lose their money.
During the boom of the current economic crisis, the central bank makes it easier for individuals and businesses to get loans by lending it at low interest rates. They can put the money in companies, technology stocks or houses and expect an increase in the value of their investment.
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Companies begin to reduce their spending once the economy slows down and employees lose their jobs. During the bust business owners begin to sell off their assets, including houses and stock portfolios, in order to raise money to pay their employees.
Colorado's history is marked by boom-and-bust cycles. These include the gold rush of 1849 as well as the 1893 Panic. However, the state's economy is now more stable and does not depend on mining.
The energy boom led to the creation of Denver a major metropolis in the 1980s, with its tall skyscrapers. The city became known as the "Mile High City."
But the frenzied construction industry proved to be one of the most significant negatives for Denver's economy. During the energy boom developers frequently built projects simply because they had the money to build them.
This trend has returned in the current real estate boom, specifically along the Front Range. It's possible that Colorado's economy will slip back into the cycle of boom-and-bust.
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