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By the end of this section, you will be able to:
  • Identify the major discoveries and developments in western gold, silver, and copper mining in the mid-nineteenth century
  • Explain why the cattle industry was paramount to the development of the West and how it became the catalyst for violent range wars

Although homestead farming was the primary goal of most western settlers in the latter half of the nineteenth century, a small minority sought to make their fortunes quickly through other means. Specifically, gold (and, subsequently, silver and copper) prospecting attracted thousands of miners looking to “get rich quick” before returning east. In addition, ranchers capitalized on newly available railroad lines to move longhorn steers that populated southern and western Texas. This meat was highly sought after in eastern markets, and the demand created not only wealthy ranchers but an era of cowboys and cattle drives that in many ways defines how we think of the West today. Although neither miners nor ranchers intended to remain permanently in the West, many individuals from both groups ultimately stayed and settled there, sometimes due to the success of their gamble, and other times due to their abject failure.

The california gold rush and beyond

The allure of gold has long sent people on wild chases; in the American West, the possibility of quick riches was no different. The search for gold represented an opportunity far different from the slow plod that homesteading farmers faced. The discovery of gold at Sutter’s Mill in Coloma, California, set a pattern for such strikes that was repeated again and again for the next decade, in what collectively became known as the California Gold Rush    . In what became typical, a sudden disorderly rush of prospectors descended upon a new discovery site, followed by the arrival of those who hoped to benefit from the strike by preying off the newly rich. This latter group of camp followers included saloonkeepers, prostitutes, store owners, and criminals, who all arrived in droves. If the strike was significant in size, a town of some magnitude might establish itself, and some semblance of law and order might replace the vigilante justice that typically grew in the small and short-lived mining outposts.

The original Forty-Niners were individual prospectors who sifted gold out of the dirt and gravel through “panning” or by diverting a stream through a sluice box ( [link] ). To varying degrees, the original California Gold Rush repeated itself throughout Colorado and Nevada for the next two decades. In 1859, Henry T. P. Comstock, a Canadian-born fur trapper, began gold mining in Nevada with other prospectors but then quickly found a blue-colored vein that proved to be the first significant silver discovery in the United States. Within twenty years, the Comstock Lode    , as it was called, yielded more than $300 million in shafts that reached hundreds of feet into the mountain. Subsequent mining in Arizona and Montana yielded copper, and, while it lacked the glamour of gold, these deposits created huge wealth for those who exploited them, particularly with the advent of copper wiring for the delivery of electricity and telegraph communication.

Questions & Answers

Ayele, K., 2003. Introductory Economics, 3rd ed., Addis Ababa.
Widad Reply
can you send the book attached ?
Ariel
?
Ariel
What is economics
Widad Reply
the study of how humans make choices under conditions of scarcity
AI-Robot
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn Reply
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn
what is ecnomics
Jan Reply
this is the study of how the society manages it's scarce resources
Belonwu
what is macroeconomic
John Reply
macroeconomic is the branch of economics which studies actions, scale, activities and behaviour of the aggregate economy as a whole.
husaini
etc
husaini
difference between firm and industry
husaini Reply
what's the difference between a firm and an industry
Abdul
firm is the unit which transform inputs to output where as industry contain combination of firms with similar production 😅😅
Abdulraufu
Suppose the demand function that a firm faces shifted from Qd  120 3P to Qd  90  3P and the supply function has shifted from QS  20  2P to QS 10  2P . a) Find the effect of this change on price and quantity. b) Which of the changes in demand and supply is higher?
Toofiq Reply
explain standard reason why economic is a science
innocent Reply
factors influencing supply
Petrus Reply
what is economic.
Milan Reply
scares means__________________ends resources. unlimited
Jan
economics is a science that studies human behaviour as a relationship b/w ends and scares means which have alternative uses
Jan
calculate the profit maximizing for demand and supply
Zarshad Reply
Why qualify 28 supplies
Milan
what are explicit costs
Nomsa Reply
out-of-pocket costs for a firm, for example, payments for wages and salaries, rent, or materials
AI-Robot
concepts of supply in microeconomics
David Reply
economic overview notes
Amahle Reply
identify a demand and a supply curve
Salome Reply
i don't know
Parul
there's a difference
Aryan
Demand curve shows that how supply and others conditions affect on demand of a particular thing and what percent demand increase whith increase of supply of goods
Israr
Hi Sir please how do u calculate Cross elastic demand and income elastic demand?
Abari
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Source:  OpenStax, U.s. history. OpenStax CNX. Jan 12, 2015 Download for free at http://legacy.cnx.org/content/col11740/1.3
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