The History of Denver
The history of Denver is filled with people and events that have shaped the city. From the gold rush to its rebirth after oil.
Early Denver was a hub for those who traveled between the Great Plains and Rocky Mountains. Evidence from prehistoric archaeological sites suggests that peoples 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 region who were looking for fortune or a new beginning in life.
The first gold discoveries were made in Gilpin and Clear Creek Counties, west of Denver. Many prospectors were successful in their strikes in the area, such as George Jackson in Idaho Springs and John Gregory in Cherry Creek.
These discoveries weren't enough to revitalize the gold rush. 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.
Over 100,000 men had left their homes in Kansas and Nebraska to cross the plains to Colorado's mountain region 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. Others were more determined and sought out the gold that was buried in the Colorado mountains.
John Gregory, a Georgian, made the first major gold discovery in the area that was Central City. He was a red-haired hard-working cracker with a keen eye to find the gold in his homeland.
Many other prospectors followed Gregory's lead and struck gold in the Clear Creek and Gold Run area. Rich placer gold was discovered by those who continued to search the mountains.
Due to the gold rush, Colorado developed into a mining hub and a railroad-based city. The city grew rapidly and ended up becoming the capital of the Territory of Colorado in 1881. Today, Denver is a vibrant city with numerous museums, parks, and other attractions that pay tribute to its rich history.
Silver Rush
In the 19th century, Colorado's primary economic engine was silver and gold mining. It brought in more than $1 billion in revenue and produced many millionaires early such as Horace Tabor and Nathaniel Hill.
In 1849, a group of California prospectors headed west to search for their fortune. They found some gold near Arvada and then discovered placer gold (veins embedded in 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 the fray and began exploring the area further.
Tens of thousands of people fled to northeastern Colorado as word spread. They came for a variety of reasons, from wanting to make a fresh start to getting caught up in sectional tensions between North and South.
But some of them were motivated by the promise of riches, as a result of their exposure to promotional literature, such as Horace Greeley's "Go West, Young Man." They also had an insatiable desire for adventure.
Regardless of why they were drawn to the wilds of Colorado, the majority discovered their luck in 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 the 1860s, significantly increased the cost of silver, and also allowed the expansion of mines across the state.
After the boom in silver However, the economy faltered and most mining districts struggled 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 major cultural center. The city boasts some of the largest art institutions in the nation and is home to world-class museums that celebrate the past and the present.
Denver Art Museum is a excellent place to visit with collections that span from prehistory through the 21st century. It is also located just across the street from the Clyfford Museum which is home to the largest collection American abstract expressionist art.
As the culture rush continued, Denver began to transform itself from a frontier town into a modern and flourishing city. A new train line connecting Denver to other towns and cities across the nation made this possible.
The new route also brought more money to the city, which led to a rise in population growth. Denver was the third-largest city in the United States at the start of World War II, with the population topping 322,000.
Another reason for the development of Denver was the creation of the US Mint, which was constructed in the city in 1878. The mint is a renowned tourist attraction, and tours are available daily.
A visit to the Molly Brown House, which was the home of Denver's first woman mayor, is a must. The Victorian-style house that was renovated in Victorian style, provides fascinating insights into Colorado's past and the present.
While the Gold Rush helped to shape Denver's image however, it wasn't without difficulties. Many of the women and men who left their homes in the eastern part of America to pursue the riches of the west were ill-equipped for the journey. They often traveled in wagons and were prone to starvation, dehydration, and even death. These conditions led to widespread xenophobia, which led to the formation 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 world to work in the oil fields. The boom created a huge demand for housing, restaurants and hotels, water systems and many more, all of which were needed to support the increasing number of people in western Colorado.
Numerous towns have sprung up in the area to accommodate workers and visitors. Some towns were small, with few shops and restaurants, while others had large oil towns with restaurants, hotels and recreation facilities.
One of the most popular was Gearhart in the town of Gearhart, which was about a half mile south of the Patterson well. The town had a number of establishments, including a general store, a grocery and a barbershop/poolhall, machine shops and other services.
The town was a favorite among workers from other regions because it was cheap to stay in and was easy to access. It also featured an outdoor dance hall which was where workers and guests could dance.
While the boom was a great time for some however, 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 would fail or be in financial difficulty.
In addition that, many towns faced the shortage of workers, as people from other parts of the country were drawn by the lucrative wages and jobs available in western Colorado. The people who didn't work in the mines were forced to find housing, upgrade wooden water lines to accommodate more flow, and provide meals in restaurants that were 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 remains an important part of the economy in the state, it is not the primary driver. Companies are focusing on other sectors, such as finance and cleantech to boost economic growth, and the production of oil and natural gas isn't expected to grow as fast as it did when the law was passed.
Boom and bust cycle
The boom and bust cycle is a cycle of economic expansion and decline that occurs repeatedly in capitalist societies of the present. Booms occur when the economy is expanding and jobs are plentiful and investors earn high returns on their investments. The boom is over and the economy shrinks. People lose their jobs and investors lose their money.
During the boom that followed, the central bank made it easier for individuals and businesses to borrow money by lending it at low interest rates. They can put the funds in companies, technology stocks or houses and hope for a high return on their investment.
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Companies begin to reduce their spending after the economy slows and employees lose their jobs. In the midst of the recession business owners begin to sell off their assets, including stock portfolios and houses, in order to raise money for payroll.
The history of Colorado has been characterized by boom-and-bust cycles, from the gold rush of 1849 to the Panic of 1893. However, Colorado's economy has changed and it no longer depends heavily on mining.
The energy boom led to the creation of Denver a major metropolis in the 1980s with its high-rises. Denver was dubbed the "Mile High City."
The biggest economic destabilizer in Denver was the chaotic construction industry. During the energy boom developers built a number of projects just because they had the money.
This trend is resurfacing in the current real-estate boom, particularly in the Front Range. It's possible that Colorado's economy will slip back into the cycle of boom and bust.
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