The History of Denver
Denver's history is filled with individuals and events that have changed the city. From the gold rush to the rebirth of Denver following the oil spill.
Early Denver was a crossroads where people traveled between the Rocky Mountains and Great Plains. Archaeological evidence from the past suggests that peoples from different cultures interacted and intermixed in this area.
Gold Rush
Denver's first gold boom the Gold Rush of 1849 was an important historical event. It brought many people to the area who were looking for fortune or a fresh start in their lives.
Clear Creek and Gilpin Counties were the first counties to discover gold west of Denver. Numerous prospectors struck gold in the area, including George Jackson in Idaho Springs and John Gregory in Cherry Creek.
These discoveries were not enough to revitalize the gold rush. To attract new miners it took a lot publicity. The boosters included 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 and traveled across the plains to the mountains of Colorado by the spring of 1859. They were referred to as "Fifty-Niners."
Many of them were interested in the gold found in gulches like Clear Creek and Gold Run in Boulder County. Others were more determined and searched for hidden gold in Colorado's mountains.
The first major gold discovery was made in the area around Central City by John Gregory, a Georgian. He was a wiry red-haired cracker who had an eye for gold in his home country.
A number of other prospectors followed Gregory's lead and struck gold in the Clear Creek and Gold Run area. Rich placer gold was discovered by those who continued to look for gold in the mountains.
In the wake of the gold rush, Colorado developed into a mining hub and a railroad-based city. The city grew rapidly, eventually becoming the capital of the Territory of Colorado in 1881. Today, Denver is a vibrant city that is home to a myriad of parks, museums and other attractions that celebrate its rich history.
Silver Rush
In the 19th century, Colorado's main economic engine was gold and silver mining. It generated more than $1 billion in earnings and made a number early millionaires, including Nathaniel Hill and Horace Tabor.
In 1849, a group California prospectors set off west to find their fortune. They discovered some gold in Ralston Creek, near Arvada. Arvada and later discovered placer gold (veins of gold embedded in the rock) at Cherry Creek. These discoveries were teasers, however they piqued the curiosity of a few Midwestern and Eastern investors who quickly joined the bandwagon and began to explore the area.
Tens of thousands of men left for the northeastern part of Colorado as the word spread. They came for various motives, ranging from wanting to make a fresh beginning to being caught in sectional tensions between North and South.
Some of them were motivated by the promise and possibility of riches, as a result reading promotional literature such as Horace Greeley’s "Go West, Young Man." They also had an insatiable desire for adventure.
No matter the reason they were attracted to the wilds of Colorado, the majority discovered their luck in the silver and gold mining. The Bland-Allison Act 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 cost of silver, and also allowed the development of more mines throughout the state.
After the boom in silver, however the economy slowed down and most mining districts struggled to stay afloat. Durango and Ouray, in southwest Colorado continued to be strong, while others, like Creede or Silverton in the San Juan Mountains, floundered.
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 present.
Denver Art Museum is a excellent place to visit with an extensive collection that spans from prehistory to the 21st century. It's also adjacent to the Clyfford Still Museum which houses the largest collection of art by an American abstract expressionist.
As the culture rush continued, Denver began to transform its status from a frontier town to a modern and thriving metropolis. This change was made possible by a new train line that linked Denver with towns and cities across the country.
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 a population exceeding 322,000.
The US Mint was another factor that contributed to Denver's growth. It was founded in Denver in 1878. The mint is a popular tourist attraction, and tours are available daily.
It's a must to visit the Molly Brown House, the home of Denver's first female mayor. The Victorian-style house that was renovated in Victorian style, offers an interesting look into Colorado's history and present.
Although the Gold Rush helped to shape Denver's character however, it wasn't without problems. Many of those who fled their homes in eastern America to find the riches of the west weren't prepared for the journey. They often traveled in wagons , and were prone to dehydration, starvation, and even death. These conditions led to the spread of fear and xenophobia which 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 in which people traveled across the nation to work in the oil fields. The boom resulted in a huge demand for housing, restaurants, hotels, water systems and many more and all of these were required to accommodate the increasing number of people in western Colorado.
A number of towns were created in the region to accommodate visitors and workers. Some were small towns with a few shops and eateries, whereas other towns were huge 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. The town had many establishments, including a general store and a grocery store and a barbershop/poolhall as well as machine shops and many other services.
Workers from other areas adored the town due to it being affordable and easy to get to. It also featured the dance pavilion, where guests and laborers could dance.
While the boom was a positive time for certain however, it also brought a lot of hardships to Denver and the communities around it. Some families and towns would lose their homes and others would go bankrupt or find it difficult to meet their financial needs.
Many towns also had to contend with an influx of workers as people from other parts of the country were attracted by the high pay and many opportunities for employment in western Colorado. Those who did not work in the mines had to find housing, upgrade wooden water lines to accommodate increased flows, and serve meals in restaurants crowded with tourists and workers who had just arrived.
The Denver-Julesburg Basin is among the largest oil shale plays in the world. While the oil industry is a major part of the economy of the state, it is not the main driver. Companies are focusing their efforts on other industries like cleantech and finance, to drive economic growth, and oil and gas production is not expected to increase as fast as it did when the law was passed.
Boom and Bust Cycle
The boom and bust cycle is a cycle of economic growth and decline that happens frequently in modern capitalist economies. During boom times when the economy is growing and jobs are plentiful. investors earn high returns on their investments. After the boom is over and the economy begins to shrink, 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 borrow money by lending it at low interest rates. They can use the funds to invest in houses, stocks in the technology sector, or companies and expect a high return.
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Businesses begin to cut back on their spending after the economy slows down and employees lose their jobs. To get payroll funds, business owners sell their assets, which include houses, stock portfolios and other assets.
The history of Colorado has been characterized by boom-and-bust cycles, ranging from the gold rush in 1849 to the Panic of 1893. But the state's economy has evolved and is no longer reliant as much on mining.
The energy boom created Denver an important metropolis in the 1980s, with its high-rises. The city became known as the "Mile High City."
The biggest economic destabilizer in Denver was the erratic construction industry. In the boom in energy, developers often built projects simply because they had the money to build them.
This trend is now resurfacing in the current real-estate boom, specifically along the Front Range. It's possible that Colorado's economy slips back into the boom-and-bust cycle.
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