*** precious metals gold rushes








Precious Metals: Gold Rushes

Gold Rushes
Figure 1.--This is a scene from the Klondike Gold Rush (December 23, 1897). The Montana Kid is arriving in Skagway from Dawson City. Interesting that the sled dogs are single file and there is no snow in December. Skagway on the coast in Alaska was how the miners got to Skagway in the Yukon. It is now the Klondike Highway.

Gold rushes were reported in ancient times. They are believed to have occurred in ancient Egypt. Actual examples were first reoorted in the Roman Empire. Pliny the Elder described gold mining as Diodorus Siculus. Other precious (especially silver) and base metals were involved, but gold was the greatest attraction. These ancient gold rushes were limited becaiuse as soon as any real quantity of gold was discovered, rulers acted to seize control. It was the 19th century that was the great age of gold rushes. There were two reasons for this. First was the emergence of capitalism which provided security for privare individuals to hold gold. Second English law which meant that that the owners of land had rights to the mineral resources--not the monarch or state. Third, was the falling costs of transportation, especially with the the steanm engune and ocean liners. The first major gold rush of modern times was the California Gold Rush (1848-55). This occurred in the age of sail. Gold was discovered at Sutter's Mill in California (1848). This led to the 1849 gold rush. Getting to California was a major undertaking. But thousands of individuals undertook the effort because of the alure of gold. After California, the were gold rushes Australia (1851), New Zealand (Otago-1851), Venezuela (mostly British-1871), South Africa (1886), and Canada (Yukon-1896). Smaller gold rushes took place in many other countries. News of gold finds brought in notable rushes of prospective miners to stake their claim on the the richest areas. This had a range of significant effects. Some miners made fortunes, in some cases fortunes. Most of the parrticipants diud not. Others did benifitted by these rushes, including and merchants and transport concerns. The resulting increase in the world's gold supply in econonies based on the gold system stimulated global trade and investment. The resulting mass migration, trade, colonization, and environmental impact had significant imapcts. Gold rushes resulted in waves of immigration that in many cases led to the permanent settlement of lightly populated areas. Under Spanish and Mexican rule, the population non-Native American population of Califirnia was very small--about 8,000 people. The Native American population was much lsrger, but unknown. The Califirnia Gold Rush briught the first significant non-Native American population into the new state.







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Created: 7:09 AM 5/6/2016
Last updated: 1:08 AM 1/10/2023