USA HISTORY

Detailed explanation-1: -By 1853 their numbers had grown to 250, 000. Although it was estimated that some $2 billion in gold was extracted, few of the prospectors struck it rich.

Detailed explanation-2: -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. Sam Brannan was the great beneficiary of this new found wealth.

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: -On January 24, 1848, gold was discovered in California at Sutter’s Mill. By 1849, people were coming to California from all over the world to look for gold. The California gold rush caused a huge increase in California’s population. That year about 80, 000 gold-seekers came to California, hoping to strike it rich.