The History of Denver
Denver's past is filled with people and events that have shaped the city. From its gold rush to its rebirth after oil.
Early Denver was a crossroads where people moved between the Rocky Mountains and Great Plains. Archaeological evidence from prehistoric indigenous sites suggests that people from different cultures mixed and interacted here.
Gold Rush
The first gold boom in Denver the Gold Rush of 1849 was a significant historical event. Many people flocked to the region seeking fortune and a new beginning in life.
The initial gold discoveries were made in Gilpin and Clear Creek Counties, west of Denver. Numerous prospectors had success in this area, including George Jackson of Idaho Springs and John Gregory of Cherry Creek.
But these discoveries were not enough to revive the gold rush. A lot of publicity was required to attract new miners. Promoters such as William N. Byers, editor of Denver's first newspaper called the Rocky Mountain News, started campaigns to draw gold seekers.
Over 100,000 men had left their homes in Kansas and Nebraska, to travel across the plains into Colorado's mountain country by spring 1859. These men were called "Fifty-Niners."
Some were looking for gold in gulches, such as Clear Creek or Gold Run in Boulder County. Other gold-seekers were more ambitious, searching for gold that was buried in the mountains of Colorado.
The first major gold discovery was made in the area around Central City by John Gregory, an Georgian. He was a wiry red-haired cracker who had an eye for gold that was found in his homeland.
Gregory was followed by a number of other prospectors who made 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.
As a result of the gold rush, Colorado developed into a mining mecca and a railroad-borne city. The city grew quickly and was declared the capital of the Colorado Territory in 1881. Today, Denver is a vibrant city with a variety of museums, parks and other attractions that pay tribute to its rich history.
Silver Rush
Mining for silver and gold was the primary economic engine of Colorado in the 19th century. It brought in more than $1 billion in revenue and created a number of early millionaires such as Horace Tabor and Nathaniel Hill.
In 1849, a group California prospectors set out west to find their fortune. They found some gold in Ralston Creek, which is near the present-day 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 handful of Midwestern and Eastern investors who joined the bandwagon and began to explore the area.
Tens of thousands of people left for northeastern Colorado as word spread. They had a variety of reasons, including wanting to get a new beginning or being involved in the tensions between North and South.
Some were enticed by the prospect of riches by reading promotional literature such as Horace Greeley's "Go West, Young Man." These men also had an insatiable desire for adventure.
No matter the reason they were drawn to the wilds of Colorado, the vast majority of them found their luck in the silver and gold mining. Combining the Bland-Allison Law of 1878 which required Congress to purchase 4.5 million ounces of Silver per month, and the discovery of silver in the 1890s, significantly increased the cost of silver, and also allowed the establishment of more mines throughout the state.
Following the silver boom However the economy slowed down and the majority of mining districts struggled to stay afloat. Durango and Ouray in southwest Colorado continued to be strong, while others, like Creede or Silverton in San Juan Mountains, floundered.
Culture Rush
Denver is a cultural center. Denver is home to many of the most prestigious art institutions in the country as well as museums that are world-class and honor the past and the present.
Denver Art Museum is a wonderful place to go, with a collection that spans prehistory all the way to the 21st century. It is also across the street from the Clyfford Museum which is home to the largest collection of American abstract expressionist art.
Denver transformed itself from a frontier city to a modern, prosperous metropolis as the craze for culture continued. A new train line connecting Denver to other towns and cities across the nation made this possible.
This new route also brought in more money for the city, which in turn resulted in a rapid increase in population growth. By the time World War II started, Denver was the third-largest city in the United States with a population of over 322,000.
The US Mint was another factor that contributed to Denver's growth. It was founded in Denver in 1878. Today, the mint is a popular tourist destination, and tours are offered every day.
A visit to the Molly Brown House, which was once the residence of Denver's first female mayor, is also essential. The Victorian-style house that has been restored offers an insight into the lives of its inhabitants and an interesting look into Colorado's history.
While the Gold Rush helped to shape Denver's character but it didn't come without its difficulties. Many of those who fled their homes in eastern America to seek the riches of the west weren't well-prepared for their journey. They often traveled in wagons and were susceptible to starvation, dehydration and even death. These conditions resulted in widespread xenophobia which resulted in the formation of the Ku Klux Klan.
Oil Boom
The 1849 oil boom was the catalyst that brought Denver City into a new time. It was a time when people moved from all over the nation to work in the oil fields. The boom created a huge demand for housing, restaurants, hotels, water systems and many more and all of these were required to accommodate the increasing number of workers in western Colorado.
Numerous towns have sprung up in the region to accommodate workers and visitors. Some communities were small with little shops and restaurants and others were large oil towns, with restaurants, hotels and recreation facilities.
Gearhart was among the most famous, and was located half one mile from the Patterson well. The town had many businesses including a general store and a grocery store, a barbershop/pool hall, machine shops and many other services.
Workers from other areas adored the town as it was affordable and easy to reach. It also had a dance venue that allowed guests and laborers to dance.
While the boom was a positive time for some however, it also brought many difficulties to Denver and the communities around it. Some towns and families would lose their homes, while others would be insolvent or unsustainable.
Additionally the towns were faced with an unsatisfactory supply of workers as people from other regions of the nation were drawn in by the high-paying jobs available in western Colorado. Those who did not work in the mines required accommodation, improve wooden water lines to handle increased flows, and serve meals in restaurants crowded with new workers and tourists.
The Denver-Julesburg Basin of today is among the most significant oil shale plays in world. However, while the oil industry remains an important component of the economy in the state, it is not the dominant force. To boost economic growth, companies are focusing on other industries like finance and cleantech. Oil and gas production is not likely to grow as rapidly as it did prior to 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 countries. When there is a boom, the economy grows, jobs are plentiful and investors get high returns from their investments. When the boom comes to an end and the economy slows down and 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 use the funds to invest in houses, stocks in the technology sector or businesses and expect a high return.
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When the economy begins to slow down, businesses begin to reduce their spending, and employees are beginning losing their jobs. In the midst of the recession businesses, business owners start to sell off their assets, including their houses and stock portfolios in an effort to raise money for payroll.
Colorado's history has been marked by cycles of boom and bust, from the gold rush of 1849 until the panic of 1893. However, the state's economy is now more stable and does not depend on mining.
The energy boom created Denver a major metropolis in the 1980s thanks to its towering skyscrapers. The city became known as the "Mile High City."
The most significant economic destabilizer for Denver was the erratic construction industry. During the energy boom developers built many projects simply because they had the money.
This trend is resurfacing in the current real estate boom, specifically along the Front Range. This means it's possible that the Colorado economy could once more slide back into the boom-and-bust cycle.
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