With the excessive number of challenges and extravagant prices the Forty-Niners faced, most did not find enough gold to make the venture worthwhile. The California Gold Rush in 1849 brought miners from all over the world and the customs they brought with them have helped make California the great, diverse state that it is today. Although the Gold Rush was not worth it for the average miner, for the state of California it was a defining experience.
The gold rush was started when James Marshall found gold while working at Sutter’s mill. Once people heard the news, there was no stopping them. A lot of people packed their bags and moved west to California in hope of making money from finding gold. In 1848, California has a mere 14,000 residents and by 1849 there were more than 100,000 residents, and three years later the population doubled to 200,000 residents. There were not many women and children that moved west, only five percent of the immigrants.
The California Gold Rush The California Gold Rush of 1849 is one of the most interesting and exiting events of the United States. From the wild stories of men striking it big, to the heart wrenching tales of people losing everything, these are what make it so alluring. There are many aspects of the California Gold Rush; effects on California; individual stories of struggle; and effects on the United States as a young country looking for stability. San Francisco was a small town of a few hundred people in 1840, but by 1850 it was a huge city whose economy was injected with gold money. This rapid growth and development was brought on by an accidental discovery by James Marshall.
In addition, the prosperity of America, especially the southern part of it own a lot to the efforts Chinese men had made. Then why was there so significant a change of the Americans' sentiment towards the Chinese people in the late 19th century? I would like to analyze this issue in the following paper. A review of the history The United States of America has long been a fantastic dream for most people in the world. They believe that streets in that mysterious land are paved with gold and one can make a really big fortune the moment he steps onto the land.
The first gold findings were found at a mill business in stream beds in 1848. Gold mines were immediately put into action underground and above. Easy gold extraction reeled in the inexperienced and experts knowing they could find large quantities of the valuable mineral making them richer faster. Also the actions of cutting class lines with the skilled upper class men and the unskilled lower class laborers working at the same gold fields next to one another(Gold Rush 1849). The extremely wealthy anxious to get more rich than they already were.
The mining industry is a billion dollar industry that has been around for years. In calendar your 2016 a net profit of $US20 billion was the aggregated profit for global miners. The year before, 2015, the mining industry had a record high gearing ratios, 49%. The industry took advantage of better operation conditions to pay down debt, reducing the gearing ratios to 41%. Many company front line executives took advantage to reduce debt and fortify their company balance sheets.
Even though there was an abundance of goods mass produced and at a cheap price because of that, so many people now had no jobs so the goods were not being purchased. Even though, from 1920 to 1929, consumerism and overproduction partially caused the Great Depression, the unequal distribution of wealth and income was the most significant catalyst. From 1920 to 1929 consumerism partially caused the Great Depression due to speculation and installment buying. Speculation is the act of investing in a stock with the hope of a big gain but the risk of a big loss. Many of the investors were sure that the stocks they were going to buy were going to grow, therefore they received big loans that, once the market crashed and all the money was gone, they could never pay b... ... middle of paper ... ...e excessive speculation in the late 1920's kept the stock market artificially high, but inevitably led to the big crash.
were the causes of the crash because America had many more influences than government not intervening and they were involved with a lot of things and people and would come out on the other side biting more than they could chew during the depression. Inequality was a big problem in America and the workers were always at the bottom of the pecking order when it came to wealth. Economies that are doing well are economies that have even distribution of wealth amongst its people. However, this wasn’t the case in America during the seven fat years. Industrialists dominated the economy during the twenties.
Miners primed up tents outside of the primal mining camps, which were ambient to where they were hunting for gold. In the first ten years of the Gold Rush, more than five-hundred mining camps were launched. Sometimes these camps would quickly develop into towns known as “boomtowns”. Cities located in both San Francisco and Columbia are two instances of where boomtowns could be located during the gol... ... middle of paper ... ...12 million ounces of gold was mined during the gold rush (would be worth around $20 billion using todays prices). The autarkic, audacious spirit that is such a crucial part of California’s economy today is a lasting reflection of the great gold rush in 1849.
Businesses in America had to shut down because of lack of funds so they owners and workers lost their lively hoods. Average American citizens lost out because they lost their jobs so could not afford to pay for clothes, food or shelter. The Wall Street crash caused a chain reaction which lead to the great depression.