The History of Denver
Denver's past is filled with events and people who have created the city. From its gold rush to its revival following oil.
Early Denver was a major crossroads at which people traveled between the Rocky Mountains and Great Plains. 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 boom in gold in Denver was a significant moment in the city's history. It brought many people to the region who were looking for fortune or a new start in life.
Clear Creek and Gilpin Counties were the first to find gold west of Denver. Numerous prospectors had success in this region, such as George Jackson of Idaho Springs and John Gregory of Cherry Creek.
However, these discoveries weren't enough to revive the gold rush. To attract new miners it took a lot publicity. Promoters such as William N. Byers, editor of Denver's first newspaper known as the Rocky Mountain News, started campaigns to attract gold-lovers.
Over 100,000 men had left their homes in Kansas and Nebraska to cross the plains into Colorado's mountain country by spring 1859. These men were known as "Fifty-Niners."
Some sought the gold found in gulches like Clear Creek or Gold Run in Boulder County. Others were more determined and searched for buried gold in the Colorado mountains.
John Gregory, a Georgian who made the first major gold discovery in the region that was Central City. He was a slender red-haired cracker with keen eyes for gold that was found in his homeland.
Many other prospectors followed Gregory's path and made gold strikes in the Clear Creek and Gold Run area. The gold in the placer deposits was discovered by those who continued to explore the mountains.
The gold rush led to Colorado a mining hub and a railroad-dependent city. The city grew rapidly and was declared the capital of the Colorado Territory in 1881. Today, Denver is a vibrant city with numerous parks, museums, and other attractions that celebrate its storied past.
Silver Rush
The mining of silver and gold was the main economic engine of Colorado in the 19th century. It brought in more than $1 billion in earnings and made a number early millionaires, including Nathaniel Hill and Horace Tabor.
In 1849, a group of California prospectors set off west to find their fortune. They discovered some gold in Ralston Creek, which is near the Arvada. Arvada and then discovered placer gold (veins of gold embedded in the rock) at Cherry Creek. These discoveries were teasers, however, they piqued interest of a handful of Midwestern and Eastern investors who joined the bandwagon and began to investigate the area more.
When the word spread, hundreds of thousands of men headed to the northeastern region of Colorado to seek their fortune. They came for a variety of reasons, ranging from wanting a new beginning to being caught in sectional tensions that divide North and South.
But some of them were motivated by the prospect of riches as a result of their reading of promotional literature, such as Horace Greeley's "Go West, Young Man." These men also had an unquenchable thirst for adventure.
Whatever their motivations the majority of them made their fortune in silver and gold mining. The Bland-Allison Act of 1878 which required Congress to purchase 4.5 million ounces worth of Silver per Month, and the discovery of silver in 1890s, significantly increased the cost of silver and allowed for the establishment of more mines across the state.
After the boom in silver, however the economy slowed down and the majority of mining districts struggled to survive. Some towns were able to survive, such as Durango and Ouray in southwest Colorado While others, like Creede and Silverton in the San Juan Mountains, floundered and had to shut down their mines.
Culture Rush
Denver is a cultural capital. Denver is home to some of the top art institutions in the nation as well as museums that are world-class and celebrate the past and the present.
A visit to the Denver Art Museum, for instance, is sure to impress, with a collection that spans from prehistory to the 21st century. It's also adjacent to the Clyfford Still Museum, which is home to the largest collection of artwork by an American abstract expressionist.
Denver transformed itself from a frontier town to a modern, prosperous metropolis as the culture craze continued. A new train line linking Denver to other towns and cities across the nation enabled this.
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 creation of the US Mint, which was constructed in the city in 1878. The mint is now a popular tourist destination, and tours are offered every day.
It's a must to visit the Molly Brown House, the former home of Denver’s first female mayor. The Victorian-style residence that was renovated in Victorian style, offers an interesting look into Colorado's history and the present.
Although the Gold Rush helped to shape Denver's image however, it wasn't without issues. Many of those who fled their homes in eastern America to find the riches of the west weren't well-prepared for the journey. They often traveled in wagons, and were at risk of dehydration, hunger, and even death. These circumstances led to a an increase in xenophobia and fear that resulted in the creation of the Ku Klux Klan.
Oil Boom
Denver City was transformed by the oil boom of 1849. It was a time when people travelled from all over the country to work in the oil fields. The boom created a huge demand for homes, restaurants and hotels and water systems to support the increasing number of workers in the western part of Colorado.
To accommodate visitors and workers to accommodate workers and visitors, several towns were constructed in the region. Some were small towns with a few shops and eateries, while others were oil towns with restaurants, hotels, and recreational facilities.
One of the most renowned was Gearhart in the town of Gearhart, which was half a mile south of the Patterson well. The town had a number of establishments, including general stores as well as a supermarket, a barbershop/pool hall, machine shops and many other services.
The town was a popular destination for workers from other areas because it was affordable for lodging and was easy to get to. It also had a dance hall where laborers and guests could dance.
The boom was a good time for some, but it also brought a lot of hardship to Denver and the surrounding communities. Certain towns and families would lose their homes, while others would be insolvent or in financial difficulty.
Additionally the towns faced a shortage of workers because people from other areas of the country were drawn in by the high-paying jobs available in western Colorado. Those who did not work in the mines had to find homes, build wooden water lines to handle increased flows, and serve meals in restaurants crowded with newly arrived workers and tourists.
Today, the Denver-Julesburg Basin has become one of the largest oil shale fields in the world. However, while the oil industry is still an important component of the economy of the state, it's not the primary driver. Companies are focusing their efforts on other industries such as cleantech and finance, to drive economic growth. However, the production of oil and gas is not expected to grow as fast as it did when the law was passed.
Boom and bust cycle
Boom and bust cycles are a pattern of economic growth and decline that occurs in capitalist nations. During a boom economic expansion, jobs are plentiful and investors get high returns from their investments. The boom ends and the economy shrinks. People lose their jobs, and investors lose their money.
During the boom that followed, the central bank made it easier for individuals and businesses to get loans by lending it at low interest rates. They can invest the money in businesses, technology stocks or houses and hope for an impressive return on their investment.
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As the economy begins to slow, businesses begin to reduce their spending, and employees are beginning to lose their jobs. In an effort to pay for payroll businesses, owners of businesses sell their assets, including houses, stock portfolios and other assets.
Colorado's history is marked by boom-and-bust cycles. This includes the 1849 gold rush and the Panic in 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 tall skyscrapers. The "Mile High City" was given to the city.
But the frenzied construction industry proved to be one of the most significant destabilizers in Denver's economy. In the boom in energy, developers often built projects simply because they had money to do so.
This trend is returning in the current real estate boom, specifically in the Front Range. It's possible that Colorado's economy slips back into the cycle of boom-and-bust.
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