The biggest gold nugget discovered during the American Gold Rush weighed nearly 195 pounds (Holub 3-4). This was just a small part of the 750,000 pounds of gold that was extracted during the Gold Rush - equivalent to 375 tons! (History.com Staff). “And [The Gold Rush] started by accident! (Holub 5).” The American Gold Rush affected the United States because of the anxiety to arrive at Sutter’s Mill, lots of americans growing very rich, and inflation increasing majorly. One of the major effects the Gold Rush had on the United States was anxiety to arrive at Sutter’s Mill.
The big day was January 24, 1848. James Marshall was building a sawmill for John Sutter. These two men worked with each other. Marshall and Sutter were planning on cutting …show more content…
But, part of being a good prospector is knowing what to do with your money once you become rich. Some of these prospectors did not know what to do with their money. For example, “The two most successful gold hunters started out as very poor men and because of the Gold Rush, these men became very rich. These men started ‘Spending Freely and Living Wildly,’ and in no time, all of their riches were gone. Stories like these are far too common among men in the gold mines” (“Primary Sources). Gold never ran out, it just got harder to find over time. These prospectors thought they could spend all of their money and just hunt for more gold. Little did they know that gold would get harder to find. The American Gold Rush lasted from 1848-1857 with about 300,000 prospectors involved (“California Gold Rush.”). The final effect the American Gold Rush had on the United States was inflation increasing …show more content…
For example, prices were very high for supplies like tents, tools, mining gear, and more when you were hunting for gold. If these prices weren’t yet affordable, rich businessmen could grubstake people and pay for their supplies. Then, in return, the miners would pay the businessmen back with some of the gold that they discover (Holub 42-43). These prices were so expensive that a pound of coffee costed $1200 in today’s currency. Although these prices were high, they also were fair. Think about how the woman that sold $18,000 worth of pies in the gold fields felt or the man who extracted a total of two billion dollars worth of precious metal during the Gold Rush (Boggan, Steve). It is clear that the California Gold Rush had a major effect on everyone in the United States of
The big day was January 24, 1848. James Marshall was building a sawmill for John Sutter. These two men worked with each other. Marshall and Sutter were planning on cutting …show more content…
But, part of being a good prospector is knowing what to do with your money once you become rich. Some of these prospectors did not know what to do with their money. For example, “The two most successful gold hunters started out as very poor men and because of the Gold Rush, these men became very rich. These men started ‘Spending Freely and Living Wildly,’ and in no time, all of their riches were gone. Stories like these are far too common among men in the gold mines” (“Primary Sources). Gold never ran out, it just got harder to find over time. These prospectors thought they could spend all of their money and just hunt for more gold. Little did they know that gold would get harder to find. The American Gold Rush lasted from 1848-1857 with about 300,000 prospectors involved (“California Gold Rush.”). The final effect the American Gold Rush had on the United States was inflation increasing …show more content…
For example, prices were very high for supplies like tents, tools, mining gear, and more when you were hunting for gold. If these prices weren’t yet affordable, rich businessmen could grubstake people and pay for their supplies. Then, in return, the miners would pay the businessmen back with some of the gold that they discover (Holub 42-43). These prices were so expensive that a pound of coffee costed $1200 in today’s currency. Although these prices were high, they also were fair. Think about how the woman that sold $18,000 worth of pies in the gold fields felt or the man who extracted a total of two billion dollars worth of precious metal during the Gold Rush (Boggan, Steve). It is clear that the California Gold Rush had a major effect on everyone in the United States of