The California Gold Rush: Entrepreneurialism and Economic Development
Stimulation of Industries
Serving the Miners
Saloons and Brothels
Demand for Railroad
Gold Rush Connections
Impact of the Railroad
A bank in San Francisco during the Gold Rush
Before banks, miners faced many problems when dealing with money
Used gold/gold dust as currency, inefficient and inaccurate form of currency
Banks exchanged drafts for gold, provided a dependable and efficient currency
Miners worried about safety of their gold, suspect to theft
Banks offered a secure storage place for miners' gold
Banks spent much of their capital into building strong, safe buildings to bolster customers' trust in them
Banks became very successful by serving miners' needs
Back To "Saloons and Brothels"
Next to "The RailRoad"
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