The History of Denver
The history of Denver is full of individuals and events that have changed the city. From its gold rush to its revival 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 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 region seeking fortune or a fresh start in their lives.
Clear Creek and Gilpin Counties were the first to find gold west of Denver. Numerous prospectors made gold in this area, including George Jackson of Idaho Springs and John Gregory of Cherry Creek.
However, these discoveries weren't enough to revive the gold rush. A lot of publicity was needed to entice new miners. William N. Byers, editor at Denver's first newspaper Rocky Mountain News, launched campaigns to attract those who were looking for gold.
In the spring of 1859, over 100,000 men had left their homes in the Missouri River towns of Kansas and Nebraska to travel across the plains and into Colorado's mountain country. They were referred to as "Fifty-Niners."
Some were looking for the gold discovered in gulches, such as Clear Creek and Gold Run in Boulder County. Others were more determined and sought out the gold that was buried in Colorado's mountains.
The first major gold discovery was made in the region around Central City by John Gregory who was an Georgian. He was a red-haired, wet cracker with an eye for the gold in his home country.
Several other prospectors followed Gregory's lead and made gold strikes in the Clear Creek and Gold Run area. The gold in the placer deposits was discovered by those who continued to search the mountains.
In the wake of the gold rush, Colorado developed into a mining hub and a railroad-based city. The city grew rapidly, eventually becoming the capital of the Territory of Colorado 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 engine of economic growth of Colorado in the 19th century. It brought in more than $1 billion in revenue and created a few early millionaires like Nathaniel Hill and Horace Tabor.
In 1849, a group California prospectors headed west to search for their fortune. They discovered some gold near Arvada and later discovered placer gold (veins embedded in rock) at Cherry Creek. These discoveries were just teasers but they piqued curiosity in a handful of Midwestern investors as well as Eastern investors, who swiftly joined the fray and began exploring the area further.
The word spread and tens of thousands of men came to the northeastern region of Colorado in search of their fortune. They were driven by a variety of reasons, including wanting a new start or having been involved in the conflict between the North and South.
However, some were motivated by the prospect of riches as a result of their exposure to promotional literature, like Horace Greeley's "Go West, Young Man." They were also motivated by an insatiable need for adventure.
Whatever their motives, most of them found their fortunes in silver or gold mining. Combining the Bland-Allison Act of1878 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 cost of silver and enabled the development of more mines throughout the state.
Following the silver boom, however the economy slowed down and many mining districts struggled to survive. Some towns remained strong like Durango and Ouray in southwest Colorado and others such as Creede and Silverton in the San Juan Mountains, floundered and had to shut down their mines.
Culture Rush
Denver is a cultural hub. Denver is home to some of the most important art institutions in the country and museums that are world class and celebrate the past and present.
Denver Art Museum is a excellent place to visit with an extensive collection that spans from prehistory all the way to the 21st century. It's also adjacent to the Clyfford Still Museum that houses the largest collection of artwork by an American abstract expressionist.
Denver transformed its status from a frontier city to an urban, prosperous city as the culture craze continued. A new train line connecting Denver to other towns and cities across the country enabled this.
The new route also brought more money to the city, which led to an increase 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 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 daily.
It's a must to visit the Molly Brown House, the former residence of Denver's first female mayor. The Victorian-style residence that was restored in Victorian style, provides an interesting look into Colorado's history and present.
While the Gold Rush helped Denver to establish its name, it was not without its challenges. Many of those who fled their homes in eastern America to seek the riches of the west were not well-prepared for their journey. They frequently traveled in wagons and were susceptible to dehydration, starvation, and even death. These circumstances led to a an increase in xenophobia and fear that led to the formation 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 country to work in the oil fields. The boom resulted in a huge demand for housing, restaurants, hotels, water systems and many more and all of these were needed to support the growing number of workers in western Colorado.
A number of towns were created in the region to accommodate visitors and workers. Some towns were small, with little shops and restaurants and others were large oil towns with hotels, restaurants, and recreation facilities.
Gearhart was one of the most well-known, and was located half a mile from the Patterson well. The town was home to a variety of businesses including general stores as well as a supermarket, a barbershop/pool hall, machine shops and other services.
The town was a favorite among workers from other areas due to the fact that it was cheap to stay in and was easy to access. It also had the dance pavilion which was where workers and guests could dance.
While the boom was a positive time for certain people however, it also brought many difficulties to Denver and the surrounding communities. Some families and towns would lose their homes and others would go bankrupt or find it difficult to make ends meets.
Many towns also had to contend with a shortage in workers because people from other parts the country were attracted by the high pay and many opportunities for employment in western Colorado. People who didn't work in the mines had to find housing, upgrade wooden water lines to accommodate the increased flow, and prepare meals in restaurants crowded with new workers and tourists.
The Denver-Julesburg Basin of today is among the most significant oil shale plays in the world. While the oil industry remains a major part of the economy of the state, it is not the main driver. To spur economic growth, companies are looking at other sectors such as cleantech and finance. Oil and gas production is not likely to grow as quickly as it did when this 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. In a boom, the economy grows as jobs are plentiful and investors reap high returns on their investments. When the boom comes to an end and the economy begins to shrink and people lose their jobs and investors lose money.
The central bank lends money at low rates to both businesses and individuals during the boom. They can put the money in businesses or technology stocks, or even houses, and hope for a high return on their investment.
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When the economy begins to slow, businesses begin to cut back on their spending and employees start to lose their jobs. In the midst of the recession, business owners begin to sell their assets, including their houses and stock portfolios, in an effort to raise funds to pay their employees.
Colorado's history is marked by boom-and–bust cycles. These include the gold rush of 1849 and the 1893 Panic. However, the state's economy has shifted and it no longer depends on mining as much.
The energy boom led to the creation of Denver an important metropolis in the 1980s thanks to its high-rises. The "Mile High City" was given to the city.
But the frenzied construction industry proved to be one of the largest destabilizers in Denver's economy. During the boom in energy the developers would often construct projects simply because they had the cash to do so.
This trend is resurfacing in the current real-estate boom, particularly along the Front Range. It's possible that the Colorado economy will once more slip into the traditional boom-and-bust cycle.
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