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THE HISTORY OF GOLD
Focus On Gold Part1
Article # : gold154
Focus On Gold
Prior to American discoveries, Europe enjoyed the distinction of being the world's largest producer and hoarder of gold. First it came from the areas of the Mediterranean and then from Africa. The 16th century brought Spanish explorers to search for gold in Central and South America. The looting of Aztec and Inca temples from Mexico to Peru followed, and more gold than the world had ever seen flowed back to Spain. South America had supplied most of the world's gold until the early 1800's.
In 1513 the Caribbean island of Cuba became a Spanish stronghold in the Americas when gold was discovered. Mining continued for 20 years before supplies dwindled, sending gold seekers to other islands and eventually South America. Estimates range between 600-800 thousand ounces of gold recovered before fortune seekers moved on.
America's movement towards independence in the 1770's brought England's European rivals into the picture. Since we suffered from a shortage of gold, France, and Spain to a lesser degree, loaned the Colonies over $20 million in gold and silver. This eventually saved the independence movement, since our Continental dollars were not backed by gold. Our own first major gold discovery would not come until almost three decades later (1799) in North Carolina.
Georgia gold was first discovered on Cherokee Indian territory in 1828, an area which later became known as Dahlonega (Indian name for "yellow money"). The federal government established a mint in the area in 1838 which produced gold coinage in excess of $6,000,000 until 1861. That year, with the advent of the Civil War, the mint at Dahlonega closed down its operations as Georgia withdrew from the Union.
Even presidents find gold! Thomas Jefferson, third chief executive of these United States (1801-1809), reported finding a four pound rock-bound specimen that contained an ounce of gold. This was in his native Virginia, one of the first gold producing colonies.
The California gold rush of 1849 was quickly followed by rushes to Australia in 1851, South Africa in 1886 and Alaska and Canada in the 1890's. In less than half a century the world's supply of gold had more than doubled.
The first year of the California gold rush was not without its problems. Diseases ran rampant in many mining camps. Lack of sanitary facilities brought outbreaks of cholera and dysentery in the more crowded gold fields.
A lack of fresh fruits and vegetables caused an ailment called scurvy in which there is a lack of vitamin C. The results were bleeding gums, loose and lost teeth, exhaustion and diarrhea.
When physicians were called in to treat miners they often succumbed to "gold fever" and wound up ignoring their own health.
Source:The New 49ers