The History of Denver
Denver's history is filled with people and events that have created the city. From the gold rush through its revival following oil.
Early Denver was a hub for people who travelled between the Great Plains and Rocky Mountains. Evidence from prehistoric archaeological sites suggests that people from different cultures interacted and intermixed here.
Gold Rush
Denver's first gold boom The Gold Rush of 1849 was a significant historical event. Many people came to the area looking for fortune and a new start in their lives.
The first gold discoveries were made in Gilpin and Clear Creek Counties, west of Denver. Numerous prospectors struck gold in the area, including George Jackson in Idaho Springs and John Gregory in Cherry Creek.
However, these discoveries weren't enough to reenergize the gold rush. To attract new miners, it took a lot of publicity. William N. Byers, editor at Denver's first newspaper Rocky Mountain News, launched campaigns to attract gold-seekers.
Over 100,000 men had left their homes in Kansas and Nebraska, to travel across the plains of Colorado's mountain region by spring 1859. These were the men known as "Fifty-Niners."
Some were looking for the gold found in gulches like Clear Creek and Gold Run in Boulder County. Others were more ambitious, searching for gold that was buried in the mountains of Colorado.
John Gregory, a Georgian who made the first major gold discovery in the area surrounding Central City. He was a red-haired, hard-working cracker with an eye for the gold in his native country.
Gregory was followed by many other prospectors who struck gold strikes in Clear Creek and Gold Run. Gold from the placer was discovered by those who continued to explore the mountains.
The gold rush created Colorado an important mining center and a city dependent on railroads. The city grew quickly and was named the capital city of the Colorado Territory in 1881. Today, Denver is a vibrant city with a variety of parks, museums, and other attractions that celebrate its storied past.
Silver Rush
Gold and silver mining was the main engine of economic growth of Colorado in the 19th century. It brought in more than $1 billion in revenue and made a number early millionaires such as Nathaniel Hill and Horace Tabor.
The rush began in 1849 when a group of California prospectors set off west to look for their fortune. They found some gold near Arvada and later discovered placer gold (veins embedded in the rock) at Cherry Creek. These discoveries were just teasers but they piqued curiosity in a handful of Midwestern investors as well as Eastern investors, who soon joined the fray and began to investigate the area further.
Tens of thousands of people fled to the northeastern part of Colorado as the word spread. They came for a variety of reasons, from wanting a new beginning to being caught in sectional tensions between North and South.
But some of them were motivated by the prospect of riches as a result of their exposure to advertising literature, such as Horace Greeley's "Go West, Young Man." These men also had an insatiable need for adventure.
No matter their motivations, most of them found their fortunes in silver or gold mining. The discovery of silver in the 1860s combined with the Bland-Allison Act of 1878, which required Congress to purchase 4.5 million silver ounces per month, raised the price of the metal considerably and enabled the construction of additional mines throughout the state.
The economy plummeted after the silver boom, and many mining districts were unable to survive. Durango and Ouray in southwest Colorado, remained strong while others, like Creede or Silverton in the San Juan Mountains, floundered.
Culture Rush
Denver is a cultural hub. Denver is home to some of the most important art institutions in the United States and museums that are world class and celebrate the past and present.
A visit to the Denver Art Museum, for instance, is certain to impress, with a collection that spans prehistory to the 21st century. It's also adjacent to the Clyfford Still Museum which houses the largest collection of artwork by an American abstract expressionist.
Denver transformed itself from a frontier city to an urban, prosperous city as the culture rush continued. This change was made possible by a brand new train line that connected 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. When World War II started, Denver was the third largest city in the United States with a population of over 322,000.
Another reason for the development of Denver was the creation of the US Mint, which was built in the city in 1878. The mint is now an extremely popular tourist attraction, and tours are available every day.
A visit to the Molly Brown House, which is the former home of Denver's first woman mayor, is also an absolute must. The Victorian-style house, which was restored in Victorian style, offers an interesting look into Colorado's history and present.
Although the Gold Rush helped Denver to become its identity, it was not without its challenges. Many of the women and men who left their homes in the eastern part of America to explore the riches of the west were ill-equipped for the journey. They frequently traveled in wagons and were prone to starvation, dehydration and even death. These circumstances led to a widespread fear and xenophobia 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 in which people came from all over the nation to work in the oil fields. The boom led to a massive demand for homes, restaurants and hotels and water systems to accommodate the growing number of workers in the western part of Colorado.
Numerous towns have sprung up in the area to accommodate workers and visitors. Some communities were small with few shops and restaurants, while others had large oil towns that had restaurants, hotels and recreation facilities.
Gearhart was among the most well-known, and was situated about half an hour from the Patterson well. There were a variety of businesses in the town, including a general shop as well as a grocery store and a bar/pool hall. machine shops, and other services.
The town was a popular destination for workers from other areas due to the fact that it was cheap to stay in and was easy to reach. It also had a dance pavilion where laborers and guests could dance.
The boom was a great time for certain however, it also brought a lot of hardship to Denver and the surrounding communities. Certain families and towns were forced to leave their homes, while others would be bankrupt or find it difficult to meet their financial needs.
Additionally, many towns faced a shortage of workers because people from other regions of the nation were drawn by the high wages and jobs available in western Colorado. The people who didn't work in the mines had a difficult time finding housing, constructing water lines made of wood to handle more flow, and also serving meals in restaurants that were packed with workers and tourists.
Today, the Denver-Julesburg Basin is among the largest oil shale plays in the world. But while the oil industry remains an important part of the economy of the state, it's not the main driver. To boost economic growth, companies are now focusing on other industries like finance and cleantech. The production of oil and gas isn't likely to increase as fast as it did before the law was passed.
Boom and Bust Cycle
The cycle of boom and bust is a cyclical period of economic growth and decline that happens often in modern capitalist economies. In a boom economic expansion, jobs are plentiful and investors reap high returns on their investments. The boom is over and the economy begins to shrink. People lose their jobs and investors lose their money.
The central bank lends money at low interest rates to individuals and businesses during the boom. They can use the money to invest in houses, stocks in the technology sector or businesses and anticipate high returns.
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Businesses begin to cut back on their spending when the economy slows and employees lose their jobs. During the bust, business owners begin to sell off their assets, including houses and stock portfolios, in order to raise funds 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.
The energy boom made Denver an important city in the 1980s thanks to its tall skyscrapers. The "Mile High City" was given to the city.
Denver's largest economic destabilizer was the chaotic construction industry. During the boom in energy, developers built a number of projects just because they had the money.
This trend has resurfaced in the current real estate boom, especially in the Front Range. It's possible that Colorado's economy slips back into the cycle of boom-and-bust.
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