The History of Denver
Denver's history is full of individuals and events that shaped the city. From the gold rush through its rebirth after oil.
Early Denver was a place of crossroads for those who traveled between the Great Plains and Rocky Mountains. Evidence from prehistoric archaeological sites suggests that peoples from different cultures interacted and intermixed in this area.
Gold Rush
The Gold Rush of 1849, or the first time that there was a gold boom in Denver was a significant moment in the city's history. Many people came to the city seeking fortune and a new start in life.
Clear Creek and Gilpin Counties were the first to find gold west of Denver. Numerous prospectors were successful in this region, such as George Jackson of Idaho Springs and John Gregory of Cherry Creek.
These discoveries did not suffice to revitalize the gold mining. To attract new miners it took a lot publicity. Boosters such as William N. Byers, editor of Denver's first newspaper, the Rocky Mountain News, started campaigns to attract gold-lovers.
By spring 1859, over 100,000 men had left their homes in the Missouri River towns of Kansas and Nebraska to travel across plains, and then up into Colorado's mountain country. These men were known as "Fifty-Niners."
Some of them sought the gold that was found along gulches, like Clear Creek and Gold Run in Boulder County. Others were more determined and sought out the gold that was buried in the Colorado mountains.
John Gregory, a Georgian who made the first major gold discovery in the region around Central City. He was a red-haired, wiry cracker with an eye for gold in his home country.
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 rich gold from the placer.
Due to the gold rush, Colorado developed into a mining mecca and a railroad-borne city. The city grew quickly and was named the capital city of Colorado Territory in 1881. Denver is a thriving city with many museums, parks and attractions, among other attractions that pay tribute to its rich heritage.
Silver Rush
Gold and silver mining was the main engine of economic growth of Colorado in the 19th century. It produced more than $1 billion in revenues and produced a number of early millionaires like Nathaniel Hill and Horace Tabor.
In 1849, a group of California prospectors set off west to search for their fortune. They found some gold near Arvada and later discovered placer gold (veins embedded in the rock) at Cherry Creek. These discoveries were teasers however, they piqued interest of a handful of Midwestern and Eastern investors who jumped aboard and started to explore the area further.
Tens of thousands of people left for the northeastern region of Colorado as the word spread. They were driven by a variety of reasons, including wanting a new start or having been involved in the conflict between North-South.
A few were motivated by the possibility and promise of riches and prosperity, which led them to read promotional literature like Horace Greeley’s "Go West Young Man." These men were also driven by an insatiable need for adventure.
Regardless of why they were drawn to the wilderness of Colorado, the majority found their luck in gold and silver mining. The discovery of silver in the 1860s, combined with the Bland-Allison Act of 1878, which required Congress to buy 4.5 million silver ounces per month, increased the value of the metal significantly and enabled the construction of additional mines throughout the state.
Following the silver boom, however, the economy faltered and most mining districts struggled to stay afloat. Durango and Ouray in southwest Colorado were able to hold their own while others, like Creede or Silverton in San Juan Mountains, floundered.
Culture Rush
Denver is a cultural hub. The city is home to some of the largest art institutions in the United States and is home to world-class museums that honor the past and the present.
Denver Art Museum is a wonderful place to go, with collections that span from prehistory all the way to the 21st century. It is also located across the street from the Clyfford Museum which houses the largest collection of American abstract expressionist art.
Denver transformed itself from a frontier town to an urban, prosperous city as the culture craze continued. A new train line connecting Denver to other cities and towns across the country allowed this to happen.
This new route also resulted in more revenue for the city, which in turn resulted in a rapid increase in population growth. Denver was the third-largest city in the United States at the start of World War II, with an estimated population of 322,000.
Another factor that contributed to the development 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 every day.
A visit to the Molly Brown House, which was the residence of Denver's first female mayor, is also essential. 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 Denver to establish its name however, it did not come without its challenges. A lot of the men and women who left their homes in the eastern part of America to pursue the riches of the west weren't well-equipped to travel. They often traveled in wagons, and were susceptible to dehydration, starvation and even death. These conditions resulted in widespread xenophobia which led to the creation of the Ku Klux Klan.
Oil Boom
The 1849 oil boom ushered Denver City into a new age. It was a time in which people flocked from all over the country to work in oil fields. The boom created a huge demand for housing, restaurants and hotels and water systems, to support the increasing number of workers in the western part of Colorado.
To accommodate visitors and workers There were several new towns built in the region. Some were small towns with a few stores and restaurants, while others were large oil towns that had restaurants, hotels, and recreational facilities.
Gearhart was one of the most well-known, and was situated about half an hour from the Patterson well. There were a variety of businesses in the town, including general stores and a supermarket and a bar/poolhall, machine shops, and other services.
Workers from other areas adored the town because it was accessible and affordable. It also had a dance venue where guests and laborers could dance.
While the boom was a positive time for certain but it also brought many difficulties to Denver and the surrounding communities. Some families and towns would lose their homes while others would become bankrupt or find it difficult to come up with the money.
Many towns also had to deal with a shortage in workers because people from other parts the country were attracted by the high pay and many job opportunities in western Colorado. The people who didn't work in the mines had a difficult time finding housing, upgrading water lines made of wood to handle more flow, and also serving meals in restaurants that were filled with workers and tourists.
The Denver-Julesburg Basin of today is among the most important oil shale plays in the world. While the state's oil industry is still an important component of its economy, it is not the only one. To spur economic growth, companies are focused on other industries like finance and cleantech. The production of oil and gas isn't likely to increase as fast as it did prior to when this law was passed.
Boom and Bust Cycle
Boom and bust cycles are a cycle of economic growth and recession that is repeated in capitalist countries. During an economic boom when the economy is growing and jobs are plentiful. investors earn high returns on their investments. The boom is over and the economy begins to shrink. People lose their jobs, and investors lose their capital.
During the boom of the current economic crisis, the central bank makes it easier for both individuals and businesses to borrow money by lending it at low interest rates. They can then invest in houses, stocks in the technology sector or businesses and anticipate high returns.
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As the economy begins to slow, businesses begin to reduce their spending and employees start to lose their jobs. During the downturn businesses, business owners start to sell off their possessions, including houses and stock portfolios in an effort to raise money for payroll.
The history of Colorado has been marked by boom-and-bust cycles, ranging from the gold rush in 1849 through the Panic of 1893. However, the state's economy has shifted and it no longer depends as much on mining.
The energy boom made Denver an important metropolis in the 1980s thanks to its high-rises. The "Mile High City" was given to the city.
Denver's largest economic destabilizer was the unstable construction industry. In the boom in energy the developers would often construct projects simply because they had money to do so.
This trend is returning in the current real estate boom, particularly along the Front Range. It's possible that the Colorado economy will once again slip into the traditional boom-and-bust cycle.
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