MANIFEST DESTINY 1806 1855
ELECTION OF 1848 AND THE CALIFORNIA GOLD RUSH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True-everyone became a millionaire!
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False-a few found gold, but those who became wealthy sold supplies to the miners.
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Either A or B
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None of the above
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Detailed explanation-1: -Sam Brannan was the great beneficiary of this new found wealth. Prices increased rapidly and during this period his store had a turnover of $150, 000 a month (almost $4 million in today’s money). Josiah Belden was another man who made his fortune from the gold rush. He owned a store in San Jose.
Detailed explanation-2: -In total, it’s estimated that 750, 000 pounds of gold were discovered during the Gold Rush. It reached its peak in 1852 when prospectors found $90 million worth of gold-that’s $2.7 billion in 2021 dollars!
Detailed explanation-3: -The Gold Rush attracted immigrants from around the world. As news of the discovery was slow to reach the east coast, many of the first immigrants to arrive were from South America and Asia. By 1852, more than 25, 000 immigrants from China alone had arrived in America.
Detailed explanation-4: -Contents. The California Gold Rush was sparked by the discovery of gold nuggets in the Sacramento Valley in early 1848 and was arguably one of the most significant events to shape American history during the first half of the 19th century.