Gold Rush, California

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  • The California Gold Rush began in January 1848, when James W. Marshall discovered significant gold deposits near Sacramento at Sutter's Mill on the south fork of the American River. It was the beginning of a seven-year era during which California gained international attention, immigration to the area exploded, territorial government in the area developed after the cession of California to the United States in February 1848, and economic growth in the region took off. Lasting from 1848 to 1855, the California Gold Rush stimulated the U.S. economy through an increase in money supply, boosting the national and international economy. In 1849, the production of California gold exceeded thirty-seven tons, and annual production from 1848 to 1857 averaged seventy-six tons. The value of the gold mined ...

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