The History of Denver
Denver's history is filled with people and events that have changed the city. From its gold rush to its revival after oil.
Early Denver was a place where people traveled between the Rocky Mountains and Great Plains. Prehistoric archaeological evidence suggests that people from different cultures interacted and intermixed here.
Gold Rush
Denver's first gold boom the Gold Rush of 1849 was an important historical event. It brought many people to the city who were looking for fortune or a fresh start in life.
The initial gold discoveries were made in Gilpin and Clear Creek Counties, west of Denver. Numerous prospectors made gold in this region, such as George Jackson of Idaho Springs and John Gregory of Cherry Creek.
These discoveries did not suffice to revive the gold mining. A good deal of publicity was needed to attract new miners. Promoters such as William N. Byers, editor of Denver's first newspaper known as the Rocky Mountain News, started campaigns to draw gold seekers.
By spring 1859, over 100,000 men had left the Missouri River towns of Kansas and Nebraska to traverse the plains, and then up into Colorado's mountain country. They were referred to as "Fifty-Niners."
Some were looking for the gold that was discovered in gulches, such as Clear Creek and 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 who was a Georgian. He was a wiry red-haired cracker who had a keen eye for the gold in his native land.
Gregory was followed by a number of other prospectors who struck gold strikes in Clear Creek and Gold Run. Rich placer gold was discovered by those who continued to search the mountains.
Due to the gold rush, Colorado developed into a mining mecca as well as a railroad-based city. The city expanded rapidly and became the capital of the Colorado Territory in 1881. Today, Denver is a vibrant city with numerous parks, museums, and other attractions that celebrate its storied past.
Silver Rush
The mining of silver and gold was the main economic engine of Colorado in the 19th century. It brought in more than $1 billion in revenue and produced many millionaires early among them Horace Tabor and Nathaniel Hill.
In 1849, a group California prospectors set out west to search for their fortune. They discovered some gold in Ralston Creek, close to today's Arvada and then discovered placer gold (veins of gold embedded in rock) at Cherry Creek. These discoveries were teasers, but they piqued the interest of a few Midwestern and Eastern investors who took to the water and began to explore the area.
As the word spread, hundreds of thousands of people headed to the northeastern part of Colorado to seek their fortune. They came for many reasons, ranging from seeking a fresh start to being caught up in sectional tensions between North and South.
However, some were motivated by the prospect of wealth, because of their exposure to promotional literature, such as Horace Greeley's "Go West Young Man." These men also had an insatiable desire for adventure.
Whatever their motivations the majority of them made 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 1860s, significantly increased the price of silver, and also allowed the development of more mines throughout the state.
The economy crashed after the silver boom, and many mining districts were unable to survive. Durango and Ouray in southwest Colorado continued to be strong, while others, like Creede or Silverton in the San Juan Mountains, floundered.
Culture Rush
Denver is a cultural hub. Denver is the home of many of the most prestigious art institutions in the country, as well as museums that are world class and celebrate the past as well as the present.
Denver Art Museum is a excellent place to visit with collections that span from prehistory through the 21st century. It's also located across from the Clyfford Still Museum which houses the largest collection of artwork by an American abstract expressionist.
Denver transformed its status from a frontier city to a modern, prosperous metropolis as the craze for culture continued. A new train line linking Denver to other towns and cities across the nation made this possible.
The new route also brought more money to the city, leading to a rise in population growth. Denver was the third-largest city in the United States at the start of World War II, with an estimated population of 322,000.
Another reason for the growth of Denver was the establishment of the US Mint, which was built in the city in 1878. Today, the mint is a popular tourist destination and tours are available every day.
A visit to the Molly Brown House, which is the former residence of Denver's first female mayor, is also an absolute must. The restored Victorian-style home offers an insight into the lives of its occupants and a fascinating look at the history of Colorado.
Though the Gold Rush helped to shape Denver's character but it didn't come without its issues. A lot of the people who left their homes in the eastern part of America to explore the riches of the west weren't well-equipped for the journey. They often traveled in wagons and were susceptible to starvation, dehydration and even death. These conditions led to widespread xenophobia, which led to the creation of the Ku Klux Klan.
Oil Boom
The oil boom of 1849 brought Denver City into a new time. It was a time when people travelled from all over 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 western Colorado.
To accommodate visitors and workers, several new towns were constructed in the region. Some were small communities with a few shops and eateries, whereas others were large oil towns that had restaurants, hotels and recreation facilities.
Gearhart was one of the most well-knowntowns, and was located about half one mile from the Patterson well. The town had many businesses , including a general store, a grocery, a barbershop/pool hall, machine shops, and other services.
The town was a popular destination for workers from other areas because it had cheap lodgings and was easy to reach. It also had a dance pavilion that allowed guests and laborers to dance.
The boom was a good time for some 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 go bankrupt or become unsustainable.
Many towns also had to contend with an influx of workers as people from other parts of the country were drawn by the high wages and the numerous opportunities for employment in western Colorado. The people who didn't work in the mines had to find 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 one of the most important oil shale plays in world. While the oil industry is still a major part of the economy of the state, it is not the dominant force. To boost economic growth, companies are now focused on other industries like finance and cleantech. The production of oil and gas isn't likely to increase as fast as it did before this law was passed.
Boom and bust cycle
The boom and bust cycle is an alternating phase of economic growth and decline that happens repeatedly in capitalist societies of the present. In boom times, the economy grows and jobs are plentiful. investors reap high returns on their investments. After the boom is over and the economy begins to shrink and people lose their jobs and investors lose money.
During the boom, the central bank makes it easier for both individuals and companies to borrow money by lending it at low interest rates. They can then invest the money in businesses or technology stocks, or even houses and hope for an increase in the value of their investment.
Related: Denver Car Accident Attorney
When the economy begins to slow, businesses start to reduce their spending and employees start to lose their jobs. In the midst of the recession businesses, business owners start 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 of 1849 through the Panic of 1893. However, the state's economy has evolved and is no longer dependent as much on mining.
In the 1980s, the energy boom transformed Denver into a thriving city with high-rises that towered over the city. The "Mile High City" was given to the city.
The most significant economic destabilizer for Denver was the unstable construction industry. During the energy boom developers frequently built 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 could slip back into the cycle of boom-and-bust.
Denver, Colorado Car Accident Resources:
