The History of Denver
Denver's past is full of individuals and events that shaped the city. From its gold rush to its rebirth after oil.
Early Denver was a place of crossroads for people who traveled between the Great Plains and Rocky Mountains. Prehistoric archaeological evidence 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 event in the city's history. It brought many people to the city who were looking for fortune or a new start in their lives.
Clear Creek and Gilpin Counties were the first to find gold west of Denver. Numerous prospectors were successful in this area, including George Jackson of Idaho Springs and John Gregory of Cherry Creek.
These discoveries weren't enough to revive the gold rush. A lot of publicity was required to attract new miners. William N. Byers, editor of Denver's first newspaper, Rocky Mountain News, launched campaigns to attract gold-seekers.
In the spring of 1859, over 100,000 men had left their homes in the Missouri River towns of Kansas and Nebraska to travel across plains and into the mountains of Colorado. They were referred to as "Fifty-Niners."
Some were looking for gold in gulches such as Clear Creek or Gold Run in Boulder County. Other gold-seekers were more ambitious, looking 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 an Georgian. He was a red-haired, hard-working cracker with an eye for the gold in his homeland.
Many other prospectors followed Gregory's path and made gold strikes in the Clear Creek and Gold Run area. The prospectors who continued to search in the mountains were rewarded with the discovery of gold in the form of placer gold.
In the wake of the gold rush, Colorado developed into a mining mecca as well as a railroad-based city. The city grew rapidly and became the capital of the Colorado Territory in 1881. Today, Denver is a vibrant city with a variety of museums, parks and other attractions that pay tribute to its rich history.
Silver Rush
In the 19th century, the primary economic engine was silver and gold mining. It generated more than $1 billion in revenue, and also produced several millionaires in the early years, including Horace Tabor and Nathaniel Hill.
The rush began in 1849 when a group of California prospectors set off west to find their fortune. They found some gold near Arvada and then discovered placer gold (veins embedded in rock) at Cherry Creek. These discoveries were teasers, however, they piqued interest of a few Midwestern and Eastern investors who quickly took to the water and began to explore the area further.
Tens of thousands of men fled to the northeastern part of Colorado as the word spread. They came for many motives, ranging from wanting to make a fresh start to getting caught up in sectional tensions that divide North and South.
Some were enticed by the possibility and promise of wealth and prosperity, which led them to read promotional literature, such as Horace Greeley’s "Go West, Young Man." These men also had an unquenchable thirst for adventure.
Whatever their motivations they all found their fortunes in silver or gold mining. Combining the Bland-Allison Law of 1878 which required Congress to purchase 4.5 million ounces of Silver per month and the discovery of silver in the the 1860s, significantly increased the price of silver and enabled the expansion of mines across the state.
The economy plummeted after the silver boom, and many mining districts could not survive. Some towns held on such as Durango and Ouray in southwest Colorado While others, such as Creede and Silverton in the San Juan Mountains, floundered and had to shut down their mines.
Culture Rush
Denver is a cultural hub. Denver is home to one of the biggest art institutions in the nation and is home to world-class museums which celebrate the past and the present.
Denver Art Museum is a wonderful place to go, with an extensive collection that spans from prehistory to the 21st century. It is also located across the street from the Clyfford Museum which houses the largest collection American abstract expressionist art.
Denver transformed itself from a frontier city to a modern, prosperous metropolis as the craze for culture continued. A new train line connecting Denver to other towns and cities across the nation allowed this to happen.
This new route also resulted in more money for the city, which resulted in a rapid increase in population growth. At the time World War II started, Denver was the third largest city in the United States with a population of over 322,000.
The US Mint was another factor which contributed to the development of Denver. It was established in Denver in 1878. The mint is a popular tourist attraction, and tours are available daily.
A visit to the Molly Brown House, which is the former home of Denver's first woman mayor, is an absolute must. The Victorian-style home that was renovated in Victorian style, offers fascinating insights into Colorado's past and the present.
While the Gold Rush helped Denver to become its identity, it was not without its problems. Many of those who fled their homes in eastern America to search for the riches of the west weren't well-prepared for their journey. They often traveled in wagons, and were at risk of dehydration, starvation and even death. These conditions led to widespread xenophobia, which led to the formation of the Ku Klux Klan.
Oil Boom
Denver City was transformed by the oil boom of 1849. This was a time when people came from all over the nation to work in oil fields. The boom created a huge demand for restaurants, housing, hotels, water systems and many more and all of these were needed to accommodate the increasing number of workers in western Colorado.
To accommodate visitors and workers, several new towns were built in the region. Some towns were small and had few shops and restaurants, while others had large oil towns that had restaurants, hotels, and recreation facilities.
One of the most renowned was Gearhart, which was located just half a mile to the south of the Patterson well. There were a variety of businesses in the town, including general stores and a supermarket and a bar/pool hall. machine shops, and other services.
People from other regions loved the town because it was accessible and affordable. It also had a dance pavilion that allowed guests and laborers to dance.
The boom was a wonderful time for some however it also brought many hardships to Denver and the surrounding communities. Some towns and families would lose their homes, while others be insolvent or unsustainable.
Many towns also had to contend with an influx of workers as people from other parts of the country were attracted by high wages and numerous opportunities for employment in western Colorado. Those who did not work in the mines were forced to find housing, upgrade wooden water lines to accommodate the increased flow, and prepare meals in restaurants packed with new workers and tourists.
Today, the Denver-Julesburg Basin has become one of the largest oil shale plays in the world. However, while the oil industry is a major part of the economy of the state, it's not the primary driver. To spur economic growth, companies are now looking at other sectors like finance and cleantech. Production of oil and gas is unlikely to grow as quickly as it did when this law was passed.
Boom and bust cycle
Boom and bust cycles are cycles of economic growth and fall that occurs in capitalist nations. Booms are when the economy is growing and jobs are plentiful and investors earn high returns on their investments. After the boom is over and the economy begins to shrink and people lose jobs and investors lose money.
During the boom of the current economic crisis, the central bank makes it easier for people and businesses to get loans by lending it at low interest rates. They can then invest in houses, stocks in the technology sector or businesses and expect a high return.
Related: Denver Car Accident Attorney
Once the economy starts to slow, companies begin to reduce their spending, and employees are beginning to lose their jobs. In the midst of the recession businesses, business owners start to sell off their possessions, including stock portfolios and houses, in an effort to raise cash to pay the payroll.
The history of Colorado has been characterized by boom-and-bust cycles, from the gold rush in 1849 until the panic of 1893. However, the state's economy is now more stable and doesn't rely on mining.
In the 1980s, the energy boom transformed Denver into a city with towering skyscrapers. Denver was dubbed the "Mile High City."
But the frenzied construction business proved to be one of the biggest destabilizers in Denver's economy. In the boom in energy, developers often built projects simply because they had the cash to do so.
This trend has returned in the current real estate boom, especially in the Front Range. This means it's possible that the Colorado economy could once more slide back into the boom-and-bust cycle.
Denver, Colorado Car Accident Resources:
