The History of Denver
Denver's history is filled with events and people who have changed the city. From the gold rush to the rebirth of Denver after oil.
Early Denver was a hub for those who traveled between the Great Plains and Rocky Mountains. Evidence from archaeology at prehistoric sites of indigenous people suggests that people from different cultures mixed and interacted here.
Gold Rush
Denver's first gold boom the Gold Rush of 1849 was a significant historical event. Many people came to the area hoping for fortune and a fresh start in life.
Clear Creek and Gilpin Counties were the first to discover gold west of Denver. Numerous prospectors were successful in this region, including George Jackson of Idaho Springs and John Gregory of Cherry Creek.
These discoveries were not enough to revitalize the gold mining. A lot of publicity was required to attract new miners. William N. Byers, editor of Denver's very first newspaper Rocky Mountain News, launched campaigns to attract gold-seekers.
By spring 1859, over 100,000 men had left the Missouri River towns of Kansas and Nebraska to travel across plains and up into Colorado's mountain country. These were the men known as "Fifty-Niners."
Some searched for the gold in gulches like Clear Creek or Gold Run in Boulder County. Others were more determined and sought out the gold that was buried in the Colorado mountains.
The first major gold discovery was made in the region around Central City by John Gregory, a Georgian. He was a red-haired wet cracker with an eye for the gold in his native country.
Several other prospectors followed Gregory's example and struck gold in the Clear Creek and Gold Run area. The prospectors who continued to search in the mountains were rewarded by 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 quickly and became the capital of the Colorado Territory in 1881. Denver is a vibrant metropolis with many museums, parks and attractions, among other attractions that pay tribute to its rich heritage.
Silver Rush
In the 19th century, Colorado's main economic engine was silver and gold mining. It brought in more than $1 billion in revenue, and also produced many millionaires early among them Horace Tabor and Nathaniel Hill.
The frenzied rush began in 1849, when a group of California prospectors set off west to find their fortune. They discovered gold in Ralston Creek, near today's Arvada and later discovered placer gold (veins of gold embedded in the rock) at Cherry Creek. These discoveries were teasers, but they piqued the interest of a few Midwestern and Eastern investors who quickly jumped aboard and started to explore the area further.
As the word spread, tens of thousands of men came to the northeastern part of Colorado in search of fortune. They had a variety of reasons, including wanting to get a fresh start or being involved in the conflicts between North-South.
Some of them were motivated by the possibility and promise of wealth and prosperity, which led them to read promotional literature like Horace Greeley’s "Go West, Young Man." They also had an insatiable desire for adventure.
Whatever their motives, most of them found their fortunes in silver and gold mining. Combining the Bland-Allison Act of1878 which required Congress to purchase 4.5 million ounces of silver per Month, and the discovery of silver in the 1860s, significantly raised the cost of silver and enabled the establishment of more mines across the state.
Following the silver boom However, the economy faltered and many mining districts struggled to survive. Durango and Ouray, in southwest Colorado, remained strong while others, like Creede or Silverton in San Juan Mountains, floundered.
Culture Rush
Denver is a cultural hub. The city is home to some of the most important art institutions in the country, and is home to world-class museums which celebrate the past and the present.
Denver Art Museum is a excellent place to visit with a collection that spans prehistory through the 21st century. It is also across the street from the Clyfford Museum, which houses 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. This change was enabled by a new railway line that connected Denver with other cities and towns throughout the country.
This new route also brought in more money for the city, which in turn led to a surge 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.
Another factor that contributed to the development of Denver was the development of the US Mint, which was constructed in the city in 1878. The mint is now a popular tourist destination, and tours are available every day.
It is a must-see to visit the Molly Brown House, the home of Denver's first woman mayor. The restored Victorian-style home provides an insight into the lives of its inhabitants and an interesting look into the history of Colorado.
Though the Gold Rush helped to shape Denver's character however, it wasn't without issues. A lot of the men and women who left their homes in the eastern part of America to pursue the riches of the west were not well-equipped to travel. They frequently traveled in wagons and were susceptible to starvation, dehydration and even death. These conditions led to 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 flocked across the country to work in the oil fields. The boom led to a massive demand for restaurants, housing and hotels, as well as water systems to support the growing number of people in the western part of Colorado.
A number of towns were created in the area to accommodate workers and visitors. Some communities were small with only a few restaurants and shops and some had huge oil towns that had restaurants, hotels and recreation facilities.
One of the most well-known was Gearhart located about a half mile south of the Patterson well. There were many businesses in the town, including general shops as well as a grocery store, a bar/pool hall, machine shops, and many other services.
The town was a favorite among workers from other regions because it was affordable for lodging and was easy to access. It also had a dance venue where laborers and guests could dance.
While the boom was a good time for some but it also brought a lot of difficulties to Denver and the communities around it. Some families and towns were forced to leave their homes, while others would become into bankruptcy or struggle 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 wages and the numerous opportunities for employment in western Colorado. People who didn't work in the mines faced difficulties finding housing, upgrading wooden water lines to handle more flow, and also serving meals in restaurants that were filled with tourists and workers.
Today, the Denver-Julesburg Basin is one of the largest oil shale plays in the world. While the oil industry remains an important component of the economy of the state, it is not the dominant force. Companies are focusing on other industries such as cleantech and finance to fuel economic growth, while the production of oil and natural gas is not expected to increase as fast as it did before the law was passed.
Boom and bust cycle
Boom and bust cycles are a pattern of economic growth and fall that is repeated in capitalist nations. Booms occur when the economy is expanding, jobs are plentiful, and investors earn high returns on their investments. The boom ends and the economy begins to shrink. People lose their jobs and investors lose their capital.
During the boom, the central bank makes it easier for both individuals and businesses to borrow money by lending it at low interest rates. They can then invest in houses, stocks in the technology sector or businesses and expect an increase in return.
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When the economy begins to slow, businesses begin to reduce their spending and employees start to lose their jobs. During the downturn, business owners begin to sell off their possessions, including houses and stock portfolios, in order to raise cash for payroll.
The history of Colorado has been marked by boom-and-bust cycles, ranging from the gold rush in 1849 until the panic of 1893. However Colorado's economy is now more stable and does not rely on mining.
In the 1980s, the energy boom transformed Denver into a metropolis with towering skyscrapers. The city was named the "Mile High City."
But the frenzied construction business proved to be one of the most significant negatives for Denver's economy. During the energy boom developers built a number of projects just because they had the money.
This trend is returning in the current real-estate boom, particularly in 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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