The History of Denver
Denver's history is filled with events and people who have changed the city. From the gold rush through its revival following oil.
Early Denver was a place where people were able to travel between the Rocky Mountains and Great Plains. Archaeological evidence from the past suggests that people from various cultures interacted and intermixed in this area.
Gold Rush
Denver's first gold boom the Gold Rush of 1849 was a significant historical event. Many people flocked to the region seeking fortune and a new start in their lives.
The initial gold discoveries were made in Gilpin and Clear Creek Counties, west of Denver. Numerous prospectors made gold in this region, such as George Jackson of Idaho Springs and John Gregory of Cherry Creek.
These discoveries were not enough to reenergize gold mining. To attract new miners it took a lot publicity. Promoters such as William N. Byers, editor of Denver's first newspaper, the Rocky Mountain News, started campaigns to draw gold seekers.
More than 100,000 men had left their homes in Kansas and Nebraska, to travel across the plains into Colorado's mountain region by spring 1859. They were referred to as "Fifty-Niners."
Some were looking for gold in gulches such as Clear Creek or Gold Run in Boulder County. Others were more determined and sought buried gold in the mountains of Colorado.
John Gregory, a Georgian was the first major gold discovery in the area surrounding Central City. He was a red-haired wiry cracker who had a keen eye to find the gold in his homeland.
Several other prospectors followed Gregory's lead and made gold strikes in the Clear Creek and Gold Run area. Prospectors who continued their search in the mountains were rewarded with the discovery of rich placer gold.
The gold rush created Colorado a major mining area and a railroad-dependent city. The city grew rapidly and ended up becoming the capital of the Territory of Colorado in 1881. Denver is a vibrant metropolis with a variety of parks, museums and attractions, as well as other attractions that pay tribute to its rich history.
Silver Rush
Mining for silver and gold was the main engine of economic growth of Colorado in the 19th century. It brought in more than $1 billion in revenue, and also produced many millionaires early, including Horace Tabor and Nathaniel Hill.
The frenzied rush began in 1849, when a group of California prospectors traveled west to find their fortune. They discovered some gold in Ralston Creek, which is near the present-day Arvada and later discovered placer gold (veins of gold embedded in the rock) at Cherry Creek. These discoveries were teasers but they piqued the interest of a handful of Midwestern and Eastern investors who quickly joined the bandwagon and began to investigate the area more.
Tens of thousands of men fled to the northeastern region of Colorado as word spread. They were driven by a variety of reasons, including wanting to get a fresh start or being involved in the tensions between the North and South.
Some were motivated by the prospect of riches, due to their exposure to promotional literature, like Horace Greeley's "Go West, Young Man." They also had an unquenchable thirst for adventure.
Whatever their motives, most of them found their fortunes in silver and gold mining. The discovery of silver in the 1860s, coupled with the Bland-Allison Act of 1878, which required Congress to buy 4.5 million silver ounces per month, raised the price of the metal considerably and enabled the development of more mines across the state.
The economy crashed after the silver boom and many mining districts could not survive. Some towns were able to survive like Durango and Ouray in southwest Colorado, while others, like Creede and Silverton in the San Juan Mountains, floundered and had to close their mines.
Culture Rush
Denver is a cultural capital. The city is home to some of the most important art institutions in the United States, and is home to world-class museums that honor the past and present.
Denver Art Museum is a great place to visit, with a collection that spans prehistory all the way to the 21st century. It is also located across the street from the Clyfford Museum, which houses the largest collection American abstract expressionist art.
As the culture craze continued, Denver began to transform its status from a frontier town to a modern and thriving metropolis. This transformation was made possible by a new train line that linked Denver with other cities and towns throughout the country.
The new route also brought more money into the city, leading to an 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 reason for the growth of Denver was the development of the US Mint, which was constructed in the city in 1878. The Mint is a well-known tourist attraction and tours are offered daily.
It's a must to visit the Molly Brown House, the home of Denver's first woman mayor. The Victorian-style residence, which was restored in Victorian style, provides an interesting look into Colorado's history and present.
While the Gold Rush helped to shape Denver's identity, it wasn't without its difficulties. Many of the men and women who left their homes in the eastern part of America to seek the riches of the west were not well-equipped for the journey. They frequently traveled in wagons and were prone to dehydration, starvation, and even death. These conditions caused 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 moved from all over the nation to work in oil fields. The boom led to a massive demand for restaurants, housing and hotels, water systems and many more, all of which were required to accommodate the growing number of workers in western Colorado.
To accommodate visitors and workers, several new towns were constructed in the region. Some were small communities with a few shops and restaurants, while others were large oil towns with restaurants, hotels and recreation facilities.
One of the most well-known was Gearhart in the town of Gearhart, which was half a mile south of the Patterson well. The town had a number of businesses , including general stores, a grocery and a barbershop/poolhall as well as machine shops, and other services.
People from other regions loved the town as it was affordable and easy to get to. It also had a dance pavilion where laborers and guests could dance.
The boom was a great time for some however it also brought many hardships to Denver and the surrounding communities. Certain towns and families were forced to leave their homes, while others would be into bankruptcy or struggle to meet their financial needs.
Many towns also faced a shortage in workers because people from other parts the country were drawn by the high pay and many opportunities for employment in western Colorado. People who didn't work in the mines had difficulty finding housing, constructing water lines made of wood to handle greater flows, and serving meals in restaurants that were filled with tourists and workers.
The Denver-Julesburg Basin of today is one of the most significant oil shale plays in world. While the oil industry in the state is a significant part of its economy, it is not the only one. Companies are focusing on other industries, such as finance and cleantech to fuel economic growth, while the production of oil and gas is not expected to grow at the same rate as it did before the law was passed.
Boom and bust cycle
Boom and bust cycles are a pattern of economic growth and fall that is repeated in capitalist nations. Booms are times when the economy is expanding, jobs are plentiful, and investors earn high returns on their investments. After the boom is over and the economy slows down and people lose their jobs , and investors lose money.
The central bank lends money at low interest rates to individuals and businesses during the boom. They can then invest in houses, stocks in the technology sector, or companies and expect a high return.
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Companies begin to reduce their spending when the economy slows and employees lose their jobs. In order to raise funds for payroll business owners can sell their assets, including houses, stock portfolios, and other assets.
Colorado's history is marked by cycles of boom and bust. This includes the gold rush of 1849 as well as the Panic of 1893. But the state's economy has shifted and it no longer depends on mining as much.
In the 1980s, the energy boom transformed Denver into a metropolis with towering skyscrapers. The "Mile High City" was given to the city.
The most significant economic destabilizer for Denver was the chaotic construction industry. In the boom in energy developers frequently built projects simply because they had the cash to build them.
This trend has returned in the current real estate boom, specifically along the Front Range. As a result, it's possible that the Colorado economy will once more slip into the traditional boom-and-bust cycle.
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