American West

Boom and Bust Economy

One enduring theme of the American West is the boom-and-bust cycles of precious-metal mining . Almost from its discovery, the image of America as a land of golden wealth has presented a powerful image to the world. America's extensive economic resources have led some historians to suggest that the abundance of the land and its use by her citizens and governments is a key factor in shaping the national character. From different angles both Frederick Jackson Turner's "The Significance of the Frontier in American History" (1893) and David M. Potter's People of Plenty (1954)  show the key roles of mineral wealth in the American experience.

The discovery of precious metals hurried the westward movement of the nation. The discovery of gold in California in January 1848 and the Gold Rush the next year is only the most prominent example. The early history of many western states, especially Nevada, Colorado, Idaho, Arizona, Montana, the Dakotas and Alaska are intimately tied up with mining activities. These were linked to politics and the issues of statehood which were in turn, welded to the growth of American nationalism, encouraging as they did the development of regional and national transportation and communication networks.

After the Gold Rush boom they felt silent and dropped into oblivion as suddenly as they had sprung up. The second half of the nineteenth century witnessed one of the greatest mass migrations in the world’s history. By the turn of the next century, the boom-and-bust cycle had come full circle, the mines were playing out, prompting the settlers of the West to move on again and try their luck elsewhere.

For information about Ghost towns see:

• American Culture and Language
• Legends of America

(See: Mining the American West in the British Library)

However, there have been many economic cycles in the region:

• We might even mark the initial development boom at some 13-15,000 ago when the first people made it to North America, and in the course of a millennium or two managed to occupy the whole region, at least seasonally.
• Certainly the Spanish conquest from the south in the 1500s constituted another regional "boom."
• The fur trade of the 1820s-1830s.
• Mormon settlement of the Great Basin.
• The cattle "rush" of the late 19th century.
• Irrigation, military, and energy booms of the 19th and 20th centuries.
• And the great wave of development which washed over the West in the 1990s. The boom of the 1990s differed from those than preceded it. In contrast to the past, the recent boom -- which occurred while prices for most of the region's raw natural resources were depressed -- was fueled by the service, high-tech, recreation and retirement industries.

Readings:

• Schwantes, "Wage Earners and Wealth Makers," (handout provided)
• Nugent: 9

Response Paper: Read the discussion about current boom and bust in New West: http://www.newwest.net/topic/article/overheard_in_the_new_west/C40/L40/. Add your comments to the discussion.