Gold Currency Analysis
Image having to decide how many chickens to trade for one cow, this would be very difficult. This is one of the challenging tasks people living thousands of years ago had to endure. This was done in order to maintain trading and economic transactions. Since the earliest of times currency has grown to be widespread and highly demanded. The use currency has made significant effects on the United States economy, allowing the transition from barter to banknotes. Since the influence of currency has carried on throughout United States history, traits of these influences still remain inscribed on currency The United States still uses today. In addition to high demand for currency there has been an equally high demand for the material gold.
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This material is comprised of the chemical Aurum, known to be a dense, soft and ductile metal. This material alone serves little purpose other than the perceived value added by societies around the world. Being one of the materials most commonly used for trade, gold was introduced to the United States during 1793 gold was discovered in North Carolina. This discovery went with little attention for the public with gold still being an unknown material. Gold was later discovered at The Reed Farm in North Carolina 6 years later in 1799. This new discovery created public attention and a new sense of demand for the …show more content…
This increased demand for gold was during 1848 when James W. Marshall discovered gold in California. The gold in California began to be discovered in much greater quantities than in North Carolina. During the next year in 1849 over 300,000 people rushed to California with the hopes of finding gold and becoming rich. This is how the “Gold Rush” name was formed and still used to this current day. Since the gold rush began in 1849, the term “49ers” also originated and the name still remains used to this day in california by sports teams and many other traditions in San Francisco and throughout California.
The increased demand for gold in California lead the production of railways across the United States. The Gold Rush lead to the completion of the Transcontinental Railway in 1869 which was built by Union Pacific and Central Pacific. The motivation for building of a nationwide railroads caused by the gold rush timeframe was a major factor in economic growth and lead to drastically increasing economic
This material is comprised of the chemical Aurum, known to be a dense, soft and ductile metal. This material alone serves little purpose other than the perceived value added by societies around the world. Being one of the materials most commonly used for trade, gold was introduced to the United States during 1793 gold was discovered in North Carolina. This discovery went with little attention for the public with gold still being an unknown material. Gold was later discovered at The Reed Farm in North Carolina 6 years later in 1799. This new discovery created public attention and a new sense of demand for the …show more content…
This increased demand for gold was during 1848 when James W. Marshall discovered gold in California. The gold in California began to be discovered in much greater quantities than in North Carolina. During the next year in 1849 over 300,000 people rushed to California with the hopes of finding gold and becoming rich. This is how the “Gold Rush” name was formed and still used to this current day. Since the gold rush began in 1849, the term “49ers” also originated and the name still remains used to this day in california by sports teams and many other traditions in San Francisco and throughout California.
The increased demand for gold in California lead the production of railways across the United States. The Gold Rush lead to the completion of the Transcontinental Railway in 1869 which was built by Union Pacific and Central Pacific. The motivation for building of a nationwide railroads caused by the gold rush timeframe was a major factor in economic growth and lead to drastically increasing economic