The History of Denver
The history of Denver is filled with people and events that have shaped the city. From the gold rush to the revival of Denver following the oil spill.
Early Denver was a crossroads where people were able to travel between the Rocky Mountains and Great Plains. Evidence from prehistoric archaeological sites suggests that people from various cultures interacted and intermixed in this area.
Gold Rush
The Gold Rush of 1849, or the first boom in gold in Denver was a significant event in the city's history. It brought many people to the city seeking fortune or a new start in their lives.
Clear Creek and Gilpin Counties were the first to discover gold west of Denver. Numerous prospectors had success in this region, such as George Jackson of Idaho Springs and John Gregory of Cherry Creek.
However, these discoveries weren't enough to revive the gold rush. To attract new miners, it took a lot of publicity. William N. Byers, editor at Denver's first newspaper Rocky Mountain News, launched campaigns to attract those who were looking for gold.
Over 100,000 men had already left their homes in Kansas and Nebraska and traveled across the plains of the mountains of Colorado by the spring of 1859. They were referred to as "Fifty-Niners."
Some sought the gold found in gulches, such as Clear Creek or Gold Run in Boulder County. Other gold seekers were more ambitious, searching for buried gold in the mountains of Colorado.
John Gregory, a Georgian who made the first major gold discovery in the region that was Central City. He was a slender red-haired cracker who had a keen eye for the gold that was found in his homeland.
Gregory was closely followed by other prospectors who made gold strikes in Clear Creek and Gold Run. Rich placer gold was discovered by those who continued to search the mountains.
The gold rush created Colorado an important mining center and railroad-dependent city. The city grew quickly and became the capital of 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
In the 19th century, the primary economic engine was gold and silver mining. It brought in more than $1 billion in revenue, and also produced several millionaires in the early years among them Horace Tabor and Nathaniel Hill.
The rush began in 1849 when a group of California prospectors set off west to search for their fortune. They discovered some gold near Arvada and then discovered placer gold (veins embedded in the rock) at Cherry Creek. These discoveries were teasers however, they piqued interest of a few Midwestern and Eastern investors who quickly joined the bandwagon and began to explore the area further.
When the word spread, hundreds of thousands of people headed to the northeastern region of Colorado in search of fortune. They came for a variety of motives, ranging from seeking a fresh start to being caught up in tensions between sections North and South.
Some were motivated by the prospect of riches as a result of their reading of promotional literature, like Horace Greeley's "Go West, Young Man." These men also had an insatiable desire for adventure.
Whatever the reason for why they were attracted to the wilderness of Colorado, the vast majority of them found their luck in the silver and gold mining. The discovery of silver in the 1860s, coupled with the Bland-Allison Act of 1878, which required Congress to buy 4.5 million pounds of silver each month, raised the price of the metal considerably and enabled the development of more mines across the state.
The economy plummeted following the silver boom and many mining districts could not survive. Some towns remained strong such as Durango and Ouray in southwest Colorado, while others, such as Creede and Silverton in the San Juan Mountains, floundered and had to close their mines.
Culture Rush
Denver is a cultural hub. Denver is home to some of the top art institutions in the nation as well as museums that are world-class and honor 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 across the street from the Clyfford Museum, which houses the largest collection 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 linking Denver to other cities and towns across the nation allowed this to happen.
The new route also brought more money into 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 establishment of the US Mint, which was built in the city in 1878. The mint is a popular tourist attraction and tours are offered daily.
A visit to the Molly Brown House, which was once the residence of Denver's first female mayor, is an absolute must. The restored Victorian-style home offers a glimpse into the lives of its inhabitants and an interesting look into Colorado's history.
Although the Gold Rush helped to shape Denver's image but it didn't come without its difficulties. Many of the women and men who left their homes in the eastern part of America to seek the riches of the west were not well-equipped for the journey. They often traveled in wagons and were susceptible to dehydration, hunger, 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 age. It was a time when people traveled from around the nation to work in the oil fields. The boom led to a massive demand for homes, restaurants and hotels, as well as water systems, to support the growing number of people in western Colorado.
To accommodate workers and visitors to accommodate workers and visitors, several towns were constructed in the region. Some communities were small with only a few restaurants and shops and some had huge oil towns with hotels, restaurants and recreation facilities.
One of the most renowned was Gearhart located half a mile south of the Patterson well. The town had a number of establishments, including general stores and a grocery store and a barbershop/poolhall, machine shops, and other services.
The town was a favorite among workers from other areas due to the fact that it had cheap lodgings and was easy to reach. It also featured the dance pavilion which was where workers and guests could dance.
While the boom was a good time for certain people but it also brought a lot of difficulties to Denver and its surrounding communities. Certain families and towns would lose their homes and 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 the country were attracted by the high wages and numerous opportunities for employment in western Colorado. People who didn't work in the mines were forced to find homes, build wooden water lines to handle the increased flow, and prepare meals in restaurants that were crowded with tourists and workers who had just arrived.
The Denver-Julesburg Basin today is one of the most important oil shale plays in world. While the state's oil industry is still a significant part of its economy, it's not the only one. To boost economic growth, companies are now focusing on other industries such as finance and cleantech. Oil and gas production is not likely to increase as fast as it did prior to when this law was passed.
Boom and Bust Cycle
Boom and bust cycles are a pattern of economic growth and decline that occurs in capitalist nations. In a boom when the economy is growing and jobs are plentiful. investors reap high returns on their investments. The boom ends and the economy begins to shrink. People lose their jobs, and investors lose their money.
The central bank lends money at low rates to individuals and businesses during the boom. They can invest the funds in companies such as technology stocks, houses, or other houses and hope for an increase in the value of their investment.
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Businesses begin to cut back on their spending when the economy slows and employees lose their jobs. To pay for payroll, business owners sell their assets, including houses, stock portfolios and other assets.
The history of Colorado is characterized by boom-and–bust cycles. This includes the gold rush of 1849 and the Panic of 1893. But the state's economy has evolved and is no longer dependent on mining as much.
In the 1980s the energy boom transformed Denver into a city with towering skyscrapers. The "Mile High City" was given to the city.
But the frenzied construction business proved to be one of the most significant destabilizers of Denver's economy. During the boom in energy, developers built many projects simply because they had money.
This trend is resurfacing in the current real estate boom, particularly along the Front Range. It's possible that Colorado's economy slips back into the cycle of boom-and-bust.
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