The California Gold Rush: Entrepreneurialism and Economic Development
Thesis
Stimulation of Industries
Lumber
Agriculture
Other Industries
Serving the Miners
General Stores
Saloons and Brothels
Banks
The Railroad
Demand for Railroad
Gold Rush Connections
Impact of the Railroad
Process Paper
Annotated Bibliography
Banks
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
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Thesis