The History of Denver
The history of Denver is filled with people and events that have shaped the city. From the gold rush through its rebirth after oil.
Early Denver was a major crossroads at which people traveled between the Rocky Mountains and Great Plains. Evidence from prehistoric archaeological sites suggests that peoples from different cultures interacted and intermixed in this area.
Gold Rush
The first gold boom in Denver the Gold Rush of 1849 was an important historical event. Many people came to the area looking for fortune and a new beginning in life.
Clear Creek and Gilpin Counties were the first counties to discover gold west of Denver. Numerous prospectors had success in this region, including George Jackson of Idaho Springs and John Gregory of Cherry Creek.
These discoveries weren't enough to revive the gold mining. A good deal of publicity was needed to attract new miners. The boosters included William N. Byers, editor of Denver's first newspaper, the Rocky Mountain News, started campaigns to attract gold seekers.
More than 100,000 men had left their homes in Kansas and Nebraska and traveled across the plains of Colorado's mountain region by spring 1859. They were known as "Fifty-Niners."
Some of them sought the gold that was found in gulches like Clear Creek and Gold Run in Boulder County. Others were more determined and sought hidden gold in Colorado's mountains.
The first major gold discovery was made in the area around Central City by John Gregory who was who was a Georgian. He was a slender red-haired cracker with a keen eye for the gold that was found in his homeland.
Gregory was followed by a number of other prospectors who struck gold strikes in Clear Creek and Gold Run. Those who continued their explorations in the mountains were rewarded with the discovery of gold in the form of placer gold.
Due to the gold rush, Colorado developed into a mining mecca and a railroad-borne city. The city grew rapidly and was declared the capital of Colorado Territory in 1881. Today, Denver is a vibrant city with numerous museums, parks and other attractions that pay tribute to its rich history.
Silver Rush
The mining of silver and gold was the primary economic engine of Colorado in the 19th century. It brought in more than $1 billion in revenues and made a number early millionaires such as Nathaniel Hill and Horace Tabor.
The frenzied rush began in 1849 when a group of California prospectors set off west to search for their fortune. They found some gold in Ralston Creek, near present-day Arvada and then discovered placer gold (veins of gold embedded in the rock) at Cherry Creek. These discoveries were only teasers, but they generated interest in a few Midwestern investors as well as Eastern investors, who soon joined in and began exploring the area further.
The word spread and tens of thousands of men rushed to the northeastern part of Colorado in search of fortune. They came for many motives, ranging from wanting to make a fresh beginning to being caught in sectional tensions that divide North and South.
Some of them were motivated by the possibility and promise of riches, as a result reading promotional literature like Horace Greeley’s "Go West, Young Man." They were also motivated by an unending desire for adventure.
Whatever their motivations they all found their fortunes 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 the 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 stay afloat. Some towns remained strong like 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 United States and museums that are world-class and honor the past as well as the present.
Denver Art Museum is a wonderful place to go, with collections that span from prehistory all the way to the 21st century. It's also located across from 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 craze for culture continued. A new train line linking Denver to other towns and cities across the country made this possible.
The new route also brought more money to the city, leading to a rise in population growth. At the time World War II started, Denver was the third-largest city in the United States with a population of more than 322,000.
Another factor that contributed to the growth of Denver was the establishment of the US Mint, which was built in the city in 1878. The Mint is a well-known tourist attraction, and tours are available every day.
It's a must to visit the Molly Brown House, the former home of Denver’s first female mayor. The restored Victorian-style home offers an insight into the lives of its occupants and a fascinating look at the history of Colorado.
Although the Gold Rush helped Denver to become its identity but it wasn't without its difficulties. A lot of the women and men who left their homes in the eastern part of America to pursue the riches of the west were not well-equipped for the journey. They often traveled in wagons and were at risk of dehydration, starvation, and even death. These circumstances led to a 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 from around the nation to work in the oil fields. The boom created a huge demand for housing, restaurants and hotels, as well as water systems to accommodate the increasing number of workers in the western part of Colorado.
Several new towns sprung up in the area to accommodate workers and visitors. Some towns were small and had little shops and restaurants and others were large oil towns, with restaurants, hotels and recreation facilities.
Gearhart was one of the most well-knowntowns, and was located about half a mile from the Patterson well. There were numerous businesses in the town, such as general stores, a grocery and a bar/poolhall, machine shops, and many other services.
The town was a favorite of workers from other regions because it was cheap to stay in and was easy to access. It also had a dance venue that allowed guests and laborers to dance.
While the boom was a good time for certain people, it also brought a lot of difficulties to Denver and its surrounding communities. Some towns and families were forced to leave their homes, while others go bankrupt or become unable to make ends meet.
In addition, many towns were faced with an unsatisfactory supply of workers, as people from other parts of the country were attracted by the high wages and jobs available in western Colorado. People who didn't work in the mines had to find housing, upgrade wooden water lines to accommodate more flow, and provide meals in restaurants crowded with tourists and workers who had just arrived.
The Denver-Julesburg Basin today is one of the most significant oil shale plays in the world. However, while the oil industry is an important part of the economy of the state, it is not the main driver. Companies are focusing on other sectors, such as cleantech and finance to boost economic growth. However, the production of oil and natural gas is not expected to grow as fast as it did before the law was first passed.
Boom and Bust Cycle
Boom and bust cycles are cycles of economic growth and fall that is repeated in capitalist nations. During a boom, the economy grows and jobs are plentiful. investors get high returns from their investments. When the boom ends, the economy shrinks, 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 put the money in companies or technology stocks, or even houses and hope for an increase in the value of their investment.
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When the economy begins to slow, businesses begin to cut back on their spending, and employees begin losing their jobs. In an effort to pay for payroll business owners can sell their assets, which include houses, stock portfolios and other assets.
Colorado's history is marked by cycles of boom and bust. This includes the 1849 gold rush and the Panic in 1893. But the state's economy has shifted and it no longer depends as much on mining.
In the 1980s the energy boom transformed Denver into a city with tall skyscrapers. Denver was dubbed the "Mile High City."
Denver's largest economic destabilizer was the chaotic construction industry. In the boom in energy the developers would often construct projects simply because they had money to do so.
This trend is returning 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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