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California gold rush: what really happened?

By Finserv MARKETS - Oct 15,2019
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California gold rush: what really happened?

For many historians, the California gold rush is considered to be one of the most significant events of the 19th century — an event that changed the financial course of Americans. The event was so extensive that it saw migration in large numbers about 1,57,000 Americans had then migrated to California to explore their fortunes.

Now with the introduction of digital gold, people have the option to buy gold online, but at the time of the gold rush, it was all about digging and mining gold from the hearth of the earth.

digital gold
The gold rush in California did change the fortune of many. On the other hand, it ruined the fortunes of others. There were successes to be celebrated, dead bodies to be counted, many farmlands to be wasted, and rivers to be choked.

How it all started

When gold was discovered at Sutter’s Mill on January 24, 1848, several saw it as a scheme to get rich quickly. Not only did the event draw people from the surrounding lands, but also neighbouring countries.

The discovery and mining of gold fueled the numerous dreams of Americans and also boosted the country’s economy, bringing it to a place where the nation could foresee and more importantly implement the rail lines. The railways were only to better the fortunes of America.

When the news of gold reached San Francisco, many people were unwilling to believe in it. However, a ray of light came in the form of entrepreneur Sam Brannan, who marched into the town, waving a container of gold to prove that the precious metal, indeed, was readily available for mining.

Now that it was proven, the shops stood empty, and people flocked in thousands of numbers to get their share of the gold. That was the only thing people could think of doing then — getting rich. The process was not entirely smooth; it resulted in several complications and conflicts as well.

The conflict

As people around started gathering, the population of native Americans started feeling insecure. So much was the insecurity of having their land flooded, that they even resorted to violent means to ward then off.

As people worked hard to mine the gold, move dirt and rock from the freezing stream, many died due to accidents and diseases. As for the native people of California, it is estimated that over a lakh and twenty thousand died of starvation, diseases, and homicide during the California gold rush. The gold rush did take a toll on the place and many works of literature highlighted the very fact.

Thanks to modern means, buying gold is not so hard or violent, unlike the California gold rush. With the introduction of digital gold, such as what’s available on Finserv MARKETS, you can now buy gold online at market-linked rates. It is not free like the gold rush, but when things can be done safer and cheaper, and without getting your hands messy, then why not go for it?

Eventually, the gold rush started fading, and it left many miners disappointed. A lot of them started working for larger mining companies that could invest in the technology and resources that were needed for large scale mining. By the mid-1950s, the gold had become more of a labour job than an individual mining endeavor.

However, the mining did take a toll on the landscape. The sediment that was washed down during mining flooded the landscapes,ruining the fields. The rivers were filled with residue, and crops were ruined.

Later, a court ruling brought an end to hydraulic mining in 1884, and post that, and agriculture took over as the primary form of economy California.

Conclusion

If you want to seek fortunes in gold — it still holds much value — then you should consider buying digital gold on Finserv MARKETS. When you buy gold online on Finserv MARKETS, you get access to high liquidity, which means that you can sell it anytime for money — all at the tip of your fingers, without having to go into the mines.

You also get access to 24 karat gold. Besides, the process is entirely smooth, and there is no commission that you have to worry about. You also need minimal documentation for completing your gold purchase online.

Finserv MARKETS, from the house of Bajaj Finserv, is an exclusive online supermarket for all your personal and financial needs. We understand that every individual is different and thus when you plan to achieve your life goals or shop for the gadget of your dreams, we believe in helping you Make it Happen in a few simple clicks. Simple and fast loan application processes, seamless, hassle-free claim-settlements, no cost EMIs, 4 hours product delivery and numerous other benefits. Loans, Insurance, Investment and an exclusive EMI store, all under one roof – anytime, anywhere!

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