The Gold Rush Transforms California
The 1848 discovery of gold at Sutter’s Mill sparked a massive migration to California. Over 300,000 people arrived seeking instant wealth. San Francisco grew from a tiny settlement to a major city practically overnight. The population surge helped California achieve statehood in 1850. The diverse influx included Chinese immigrants, Latin Americans, and Europeans. The Gold Rush created a boom-and-bust economic pattern still familiar in American business.
