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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Became Businessmen or Businesswomen
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Struck it rich!
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Went Home.
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Never found enough gold to become rich.
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Detailed explanation-1: -The output of gold rose from $5 million in 1848 to $40 million in 1849 and $55 million in 1851. However, only a minority of miners made much money from the Californian Gold Rush. It was much more common for people to become wealthy by providing the miners with over-priced food, supplies and services.
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: -During the 1850s and 1860s Brannan was known as the richest man in California. The chaos of the gold rush had played to his personality and business instincts, but he plunged into some schemes with the care of a gambler. He once sailed to Hawaii to overthrow the king, a coup that failed.
Detailed explanation-4: -But the largest profit was made by the U.S. government, with the expansions to the west, railroads, infrastructure-new cities blossomed and turned into metropolitan areas, everyone wanted gold so more and more people began to move over to the west.